22 January 2016
Shanghai’s small businesses confident, innovative and tech
savvy
New survey data released today by CPA Australia shows Shanghai’s small business sector is maintaining a
positive economic outlook, with a strong focus on innovation, e-commerce and social media – 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, Hong Kong, Singapore, Australia, New Zealand
and four major cities from the mainland of China, including Shanghai.
CPA Australia chief executive Alex Malley says the survey results show there is real strength in the small business
sector in Shanghai, with confidence higher than it was last year and appearing set to continue for some time.
“Shanghai’s small businesses have had a successful 12 months, with 80 per cent of respondents reporting that
they grew over this period,” Malley says.
“Looking to 2016, the results are also very positive, with 77 per cent of small businesses expecting to grow in the
year ahead.
“Confidence in China’s economy is also high, with 71 per cent of respondents expecting the economy to grow in
2016.
“This positive outlook is translating into jobs, with 40 per cent of Shanghai’s small business sector reporting that
they increased employee numbers in the past 12 months.
“There are good reasons to be confident in Shanghai’s small business sector, with 25 per cent of Shanghai small
businesses definitely expecting to innovate in the next 12 months through the introduction of a new product, service
or process that is unique to China.”
“Small businesses in Shanghai are also taking advantage of the large and growing online marketplace and with an
almost universal uptake of social media, are well-placed to out-compete less nimble and tech savvy competitors in
China and elsewhere.”
“The range of initiatives China’s government has implemented or is implementing to encourage growth and
innovation, such as the Belt and Road initiative, the promotion of mass entrepreneurship and innovation, and the
‘Made in China 2025’ plan should further inculcate a culture of innovation and entrepreneurship amongst
Shanghai’s small businesses. Such a culture should help drive the next phase of China’s economic growth story.”
Key findings from the survey for Shanghai include:
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96 per cent of respondents use social media for business purposes, compared with the survey average of
81 per cent
30 per cent of respondents expect to grow their e-commerce presence to a large extent, compared with the
survey average of 32 per cent
92 per cent of respondents earned revenue from online sales, compared with the survey average of 69 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 +61 434 003 911 or [email protected]