22 January 2016
Hong Kong’s small businesses increasingly confident, tech
savvy and growing
New survey data released today by CPA Australia shows Hong Kong’s small business sector has an increasingly
positive economic outlook, with a strong focus on e-commerce and business management – some of the key
drivers of economic growth.
The findings, from CPA Australia’s annual Asia-Pacific Small Business Survey, follow extensive surveying of nearly
3,000 small business operators in Malaysia, Vietnam, Indonesia, China, Hong Kong, Singapore, Australia and New
Zealand.
CPA Australia chief executive Alex Malley says the survey results show there is growing strength in the small
business sector in Hong Kong, with many respondents reporting growth over the past 12 months and reporting a
positive economic outlook.
“Hong Kong’s small businesses have had a successful 12 months, with 64 per cent of respondents reporting that
they grew over this period,” Malley says.
“Confidence in Hong Kong’s economy has risen 13 per cent from the 2014 survey results, with 52 per cent of
respondents expecting the local economy to grow in 2016.
“This increasingly confident outlook is translating into jobs, with 33 per cent of Hong Kong’s small business sector
reporting that they increased employee numbers in the past 12 months, and a third of businesses expecting to
increase employee numbers in the coming year.”
“Small businesses in Hong Kong are also taking advantage of the large and growing online marketplace and with
their very high uptake of social media and strong investment in e-commerce, are well-placed to out-compete less
nimble and tech savvy competitors in Hong Kong and elsewhere.
“The strong focus on e-commerce may also be helping many of Hong Kong’s small businesses reduce their rental
costs while increasing their chance of gaining access to the fast-growing e-commerce market in the Mainland
without necessarily needing a physical presence there.”
Other key findings from the survey for Hong Kong include:
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93 per cent of respondents use social media for business purposes, compared with the survey average of
81 per cent
43 per cent of respondents expect to grow their e-commerce presence to a large extent, compared with the
survey average of 32 per cent
22 per cent of respondents expect their revenue from overseas markets to grow strongly in the next 12
months, compared with the survey average of 19 per cent
The CPA Australia Asia-Pacific Small Business Survey provides annual insights into the views of small businesses
across the region and forms part of a longitudinal study that began in 2009.
Survey available at www.cpaaustralia.com.au. For a snap shot of results click here. For full report click here.
-ENDS-
Media contact: Stuart Dignam on +61434 003 911 or [email protected]