5 in 10 ASEAN SMEs expect revenue growth this year
26% projects a double-digit growth.
More than half of small and medium enterprises in ASEAN region (52%) are expecting revenue growth this year, with 26% projecting a double-digit growth.
“This optimism reflects the region’s positive environment – nations experiencing muted growth are approaching the tail end of their economic slowdown and restructuring while those approaching a ‘demographic sweet spot’ will benefit from multiple factors to fuel SME growth,” said Audrey Chia, CEO of Dun & Bradstreet Singapore, in a press release.
In line with this, 60% of SMEs said they will prioritise investing on technology over fixed assets in 2018 to push business performance. Software that would improve the websites and help develop mobile apps are on top of the list of 78% of SMEs.
The ASEAN SME Transformation Study was created by United Overseas Bank, EY, and Dun & Bradstreet. It was participated by 1,235 SMEs across Indonesia, Malaysia, Thailand, Vietnam, and Singapore.