Asia's small firms see economic growth
Friday, June 22, 2007
SMALL businesses across Asia expect good times ahead, according to a survey commissioned by The Hongkong and Shanghai Banking Corporation Limited (HSBC).
Conducted by the Nielsen Company in the first quarter of 2007, the survey covered 1,800 small and medium-sized enterprises across nine countries and territories: Hong Kong, mainland China, Taiwan, Singapore, India, Korea, Malaysia, Indonesia and Australia.
In a statement, HSBC said the firms were asked about their local economic outlook, whether they plan to invest and recruit as well as their views about trade volumes with mainland China, the rest of Asia and the rest of the world.
Margaret Leung, Global Co-head of Commercial Banking at HSBC said: "This survey showed that an overwhelming number of respondents are positive about the economic outlook of their economy and trade volumes ahead and are willing to invest in their business as well as recruit more staff. This bodes well for the global economy as SMEs are the backbone of economies both in Asia and the rest of the world."
The most optimistic SMEs on economic outlook are in India, Singapore, mainland China and Indonesia.
Hong Kong SME respondents are generally positive about the economic outlook for the territory with 71 per cent expecting the economy to grow at the same pace (19 per cent), moderately faster (27 per cent) or significantly faster (25 per cent) than the economic growth rate in the first quarter.
Indonesian SMEs are the most optimistic about investing to expand their businesses, followed by SMEs in mainland China, Australia and Singapore. The majority of Hong Kong SMEs (63 per cent) have no plans to invest, while 27 per cent plan to invest and 11 per cent expect to cut investment or production in the year.
SMEs in mainland China are the most optimistic about recruiting more workers, followed by Indonesia, India and Singapore. The Brunei Times
Conducted by the Nielsen Company in the first quarter of 2007, the survey covered 1,800 small and medium-sized enterprises across nine countries and territories: Hong Kong, mainland China, Taiwan, Singapore, India, Korea, Malaysia, Indonesia and Australia.
In a statement, HSBC said the firms were asked about their local economic outlook, whether they plan to invest and recruit as well as their views about trade volumes with mainland China, the rest of Asia and the rest of the world.
Margaret Leung, Global Co-head of Commercial Banking at HSBC said: "This survey showed that an overwhelming number of respondents are positive about the economic outlook of their economy and trade volumes ahead and are willing to invest in their business as well as recruit more staff. This bodes well for the global economy as SMEs are the backbone of economies both in Asia and the rest of the world."
The most optimistic SMEs on economic outlook are in India, Singapore, mainland China and Indonesia.
Hong Kong SME respondents are generally positive about the economic outlook for the territory with 71 per cent expecting the economy to grow at the same pace (19 per cent), moderately faster (27 per cent) or significantly faster (25 per cent) than the economic growth rate in the first quarter.
Indonesian SMEs are the most optimistic about investing to expand their businesses, followed by SMEs in mainland China, Australia and Singapore. The majority of Hong Kong SMEs (63 per cent) have no plans to invest, while 27 per cent plan to invest and 11 per cent expect to cut investment or production in the year.
SMEs in mainland China are the most optimistic about recruiting more workers, followed by Indonesia, India and Singapore. The Brunei Times
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