THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT"

Transcription

1 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT

2 2 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT LEGAL NOTICE CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies, representing more than 155,000 members of the financial, accounting and business profession in 118 countries. ISBN: For information about CPA Australia, visit our website cpaaustralia.com.au First published 2016 CPA Australia Ltd ACN Level 20, 28 Freshwater Place Southbank Vic 3006 Australia Copyright CPA Australia Ltd (ABN ) ( CPA Australia ), All rights reserved. CPA Australia owns all copyright in these materials or uses it under licence or applicable law. For permission to reproduce any material, a request in writing is to be made to the Legal Business Unit, CPA Australia Ltd, Level 20, 28 Freshwater Place, Southbank, Victoria 3006 Australia. DISCLAIMER CPA Australia has used reasonable care and skill in compiling the content of these materials. However, CPA Australia makes no warranty that the materials are accurate and up to date. These materials do not constitute the provision of professional advice whether legal or otherwise. Users should seek their own independent advice prior to relying on or entering into any commitment based on the materials. The materials are purely published for reference purposes alone. CPA Australia, their employees, agents and consultants exclude completely all liability to any person for loss or damage of any kind including but not limited to legal costs, indirect, special or consequential loss or damage (however caused, including by negligence) arising from or relating in any way to the materials and/or any use of the materials. Where any law prohibits the exclusion of such liability, then to the maximum extent permitted by law, CPA Australia s liability for breach of the warranty will, at CPA Australia s option, be limited to the supply of the materials again, or the payment of the cost of having them supplied again.

3 3 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT OVERVIEW CPA Australia Asia-Pacific Small Business Survey 2015 is the sixth in a series of annual reports measuring small business confidence, the drivers of confidence, technology uptake and access to finance by small businesses. The data is compared across the eight economies included in this survey and over time. In total, 2932 participants completed the survey, including 510 from Australia, 610 from Mainland China, 265 from Hong Kong, 306 from Indonesia, 310 from Malaysia, 311 from New Zealand, 310 from Singapore and 310 from Vietnam. The online survey was conducted with a random sample of small business owners/managers between 24 September and 14 October The sample was obtained through panel providers. To qualify for the survey, participants were required to be an owner, a senior manager (defined as being a director, a principal, a CEO, a CFO, a senior manager or a managing director) or a qualified accountant of a business with fewer than 20 employees.

4 4 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT SUMMARY OF HONG KONG RESULTS Focus on e-commerce and exporting is boosting the confidence and competiveness of Hong Kong s small business sector. CPA Australia s Asia-Pacific Small Business Survey reveals that a strong focus by many Hong Kong small businesses on e-commerce, social media and exporting is contributing to a more positive outlook by the sector. The focus on e-commerce, social media and exporting also means that many of Hong Kong s small businesses are well placed to outcompete their less nimble and tech-savvy competitors and remain competitive against rivals from fast-growing neighbouring economies who are taking big steps to improve their competitiveness. More than half of the respondents (52.0 per cent) expect Hong Kong s economy to grow in the next 12 months, a 12.6 percentage point increase from the 2014 survey results. This jump in economic confidence has flowed through to confidence in their own business, with 55.1 per cent of Hong Kong businesses expecting to grow in the next 12 months, up from 39.0 per cent in This, however, is still well below the survey average of 70.7 per cent of small businesses expecting to grow in the next 12 months. It is also below the results for the mainland of China (77.7 per cent) and Singapore (56.5 per cent). There is no doubt that the survey results show that economic and small business sentiment in Hong Kong for 2016 has turned positive. Further, Hong Kong s strong focus on e-commerce and exporting and continued strong economic growth in the mainland of China (the Mainland) supported by policies such as the Belt and Road Initiative, show that there is much to be positive about with regard to Hong Kong and its small business sector in 2016 and beyond. The sector is not without its challenges, however. The main challenge is increasing costs, particularly rent, with Hong Kong businesses being the most likely of the markets surveyed to nominate this as the factor most detrimental to their business in the past 12 months. However, the very strong focus on e-commerce means that many Hong Kong businesses are responding well to this challenge. Investing in e-commerce platforms makes good business sense as it may reduce their need for floor space, particularly in high rental locations, and increases the chance of them gaining access to the fast-growing e- commerce market in the Mainland without necessarily needing a physical presence there. With Hong Kong s tourism and retail sectors going through a weak period, efforts to reach customers directly through e-commerce platforms also show that many Hong Kong small businesses have the right strategy in place, and that this should be a positive contributor to long-term growth. Another familiar challenge for Hong Kong small businesses is what appears to be an overreliance on external finance. As in previous years, Hong Kong small businesses continue to seek external finance even when business conditions are not working in their favour. They are also more likely to seek external finance to cover increasing expenses, increasing rent and increasing borrowing costs than small businesses from other markets. These issues should ideally be addressed through improved cash flow management and cost control rather than increased borrowings. While the strong focus on e-commerce and exporting is positive, a stronger focus on innovation would make Hong Kong small businesses even more competitive and likely to grow. As the survey results show, businesses that are innovating are significantly more likely to be growing and creating jobs.

5 5 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Hong Kong small businesses are less likely than the survey average or small businesses in the Mainland to innovate through the introduction in the next 12 months of a new product, service or process that is unique to Hong Kong or the world (17.7 per cent for Hong Kong small businesses compared with the survey average of 22.0 per cent and 31.6 per cent of small businesses from the Mainland). Putting aside the need for a stronger focus on innovation, Hong Kong small businesses are largely competitive and well placed to grow in the coming years as: a large percentage expect to grow their e-commerce presence (42.6 per cent of Hong Kong small businesses expect to grow their e-commerce presence to a large extent in the next 12 months compared with the survey average of 32.2 per cent, the Shanghai reading of 29.5 per cent and the Singapore reading of 19.4 per cent) many expect to grow revenue from overseas markets (22.3 per cent of Hong Kong small businesses expect their revenue from overseas markets to grow strongly in the next 12 months compared with the survey average of 19.1 per cent, Singapore at 17.7 per cent and Shanghai at 10.9 per cent) a very large percentage use social media in their business (93.2 per cent of Hong Kong small businesses use social media in their business compared with the survey average of 81.4 per cent and well ahead of Singapore s reading of 79.6 per cent and Australia s reading of 50.2 per cent). The more positive small business outlook and a focus on some of the key drivers of future growth and competiveness are contributing to the sector creating new jobs, with 32.8 per cent of Hong Kong small businesses forecasting they will increase employee numbers in the next 12 months. This number could be higher with a stronger focus on innovation. Other results from the survey Demographics Hong Kong small business owners are younger than the survey average (63.4 per cent are under 40 compared with the survey average of 53.2 per cent). There is a strong correlation between younger business owners and those businesses that expect to grow, sell online, use social media for business purposes, and innovate through the introduction of new products, processes or services. Improved business management Hong Kong small businesses were slightly less likely to state that improved business management had a major positive impact on their business in the past 12 months than the survey average (20.4 per cent compared with the survey average of 25.4 per cent). Cost control was also a major positive influence on Hong Kong businesses; however, increasing costs remain a major detrimental issue for Hong Kong businesses.

6 6 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Access to finance For those Hong Kong small businesses that sought finance in the past 12 months, access to finance became easier than in the previous 12 months (43.5 per cent found access to finance easy or very easy in this survey compared with 29.9 per cent in the last survey). These easier financing conditions and the more positive economic environment contributed to an increase in the number of businesses seeking external funds (78.1 per cent required external funds in the past 12 months against 69.9 per cent that required external funds in the last survey). While growth remains the most important reason for accessing finance, Hong Kong businesses were also the most likely to access external funds for covering increasing expenses.

7 7 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT MAJOR FINDINGS FOR HONG KONG Innovation is a key driver of growth, job creation and exporting; therefore more Hong Kong small businesses could benefit from a greater focus on innovation. With small businesses with an e-commerce presence being more likely to be growing and creating jobs, Hong Kong s strong focus on e- commerce is a distinct competitive advantage for its business and the economy. With the survey results showing a strong connection between exporting, and growth and jobs, Hong Kong s focus on exporting is a competitive advantage for its small businesses and the economy. With the survey results showing a strong connection between social media use and business growth, the near universal usage of social media by Hong Kong s small businesses is a competitive advantage. Reflecting more positive business conditions, nearly one-third of Hong Kong small businesses plan to increase their headcount in Hong Kong small business confidence in the growth prospects for the local economy and their own business is up in Access to finance for Hong Kong small businesses became easier over the past 12 months.

8 8 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT KEY SURVEY FINDINGS FOR HONG KONG INNOVATION Innovation 1 is a key driver of growth, job creation and exporting. More Hong Kong small businesses could therefore benefit from a greater focus on innovation. Small businesses that in the next 12 months will definitely introduce a new product, service or process that is new to their market or the world 2 Indonesia 45.8% China 31.6% Malaysia 29.0% Vietnam 26.1% Hong Kong 17.7% Singapore 15.2% New Zealand 6.8% Australia 5.1% 1 Innovation, for the purpose of the survey, is taken to be the introduction of a new product, service or process that is unique to a market or the world. 2 All data for China excludes Hong Kong, which is shown separately.

9 9 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT The relationship between innovation and jobs creation, business growth and exporting EMPLOYEE NUMBERS Percentage that expect to definitely introduce a product, service or process that is new to their market or the world Expecting to increase employee numbers in the next 12 months NOT expecting to increase employee numbers in the next 12 months BUSINESS GROWTH Expecting to grow their business in the next 12 months NOT expecting to grow their business in the next 12 months EXPORTING Expecting revenue from overseas sales to grow strongly in the next 12 months NOT expecting to grow their revenue from overseas sales in the next 12 months

10 10 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Innovation is a core driver of business growth and competitiveness, and while a reasonable number of Hong Kong small businesses are undertaking innovation, more could be done. With the survey results showing innovative businesses are significantly more likely to be growing, exporting and creating jobs, it is easy to see why innovation and technology is one of the key economic areas the Hong Kong government seeks to further develop. As a recent OECD paper on innovation stated, in the long run, it is difficult to imagine growth without innovation. The OECD estimates that innovation can contribute up to 50 per cent of economic growth depending on the economy, the level of economic development and the phase of the economic cycle. 3 Such an estimate highlights why the Hong Kong government is absolutely right to have innovation as a core policy focus. Businesses are also more likely to definitely expect to undertake innovation through the introduction in the next 12 months of a new product, service or process that is unique to their market or the world if they: have a business owner/manager aged under 40 have between 5 and 19 staff are from the banking, finance and insurance sector, or the manufacturing sector. KEY FINDING Innovation is a core driver of economic growth, business growth, job creation and exporting. We suggest that more Hong Kong small businesses should place a greater emphasis on innovation and take advantage of the support for innovation offered by the Hong Kong government. 3 OECD Innovation Strategy: An Agenda for Policy Action, OECD Publishing, Paris, 2015, p. 4

11 11 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT E-COMMERCE With small businesses with an e-commerce presence being more likely to be growing and creating jobs, Hong Kong s strong focus on e-commerce is a distinct competitive advantage for its business and the economy. Small business that generated revenue from online sales a comparison between Hong Kong, Shanghai and Singapore 100% 90% Shanghai 80% Hong Kong 70% 60% Singapore 50% Small business that intend to grow their e-commerce presence to a large extent in next 12 months a comparison between Hong Kong, Shanghai and Singapore 50% 40% Hong Kong 30% Shanghai 20% Singapore 10%

12 12 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT The relationship between e-commerce and business growth, jobs creation and exporting BUSINESS GROWTH Percentage that expect to grow their e-commerce presence to a large extent Expecting to grow their business in the next 12 months NOT expecting to grow their business in the next 12 months EMPLOYEE NUMBERS Expecting to increase employee numbers in the next 12 months NOT expecting to increase employee numbers in the next 12 months EXPORTING Expecting revenue from overseas sales to grow strongly over the next 12 months NOT expecting to sell into overseas markets in the next 12 months

13 13 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Small businesses from Hong Kong are leading their peers and competitors from Singapore, Australia and New Zealand on generating revenue from online sales. This advantage is only likely to grow as small businesses from Hong Kong are significantly more likely to expect to grow their e-commerce presence in the next 12 months than businesses from almost all other markets in the survey including Shanghai and Singapore. With the survey results showing that small businesses that are selling online and seeking to grow their e-commerce presence are significantly more likely to be growing and creating jobs, it is easy to see why the Hong Kong government has innovation and technology as a key economic area for further development. The focus on e-commerce should also assist Hong Kong small businesses reduce the impact that rent has on their business, as e-commerce could allow them to take up less floor space, particularly in high rental locations. It could also allow them to better connect with customers, particularly in the Mainland, without necessarily having a physical presence there. With Hong Kong s retail and tourism sectors going through a weak period, such a focus on e-commerce may be an important way to help businesses in those sectors to manage through this difficulty and place them in a good position for future growth. While online sales are not relevant for all businesses, when you combine the data that shows a strong connection between e-commerce and growth, growing digital penetration and literacy of customers, high rent and weaknesses in some sectors of the Hong Kong economy, the results suggest it would be wise for all businesses to investigate establishing and growing their e-commerce presence. Small businesses are also more likely to earn income from online sales where: they have between 5 and 19 staff the business has been established for less than 21 years the respondent is aged under 40 the business is from the manufacturing sector. KEY FINDING The high degree of focus on e-commerce by Hong Kong s small businesses is a key competitive advantage for those businesses and the economy. The focus on e-commerce should also allow Hong Kong s small businesses to better control rent costs and make it easier for them to connect with customers in the Mainland.

14 14 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT SMALL BUSINESS AND EXPORTING With the survey results showing a strong connection between exporting, and growth and jobs, Hong Kong s focus on exporting is a competitive advantage for its small businesses and the economy. Small businesses expecting revenue from overseas sales to grow strongly in the next 12 months a comparison between Hong Kong, Shanghai and Singapore 25% Hong Kong 20% Singapore 15% 10% Shanghai 5% 0% The relationship between exporting, and jobs creation and business growth EMPLOYEE NUMBERS Percentage that expect their revenue from exporting to grow strongly Expecting to increase employee numbers in the next 12 months NOT expecting to increase employee numbers in the next 12 months

15 15 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT BUSINESS GROWTH Expecting to grow their business in the next 12 months NOT expecting to grow their business in the next 12 months Hong Kong s small businesses are the second most likely of the markets surveyed to expect to strongly grow their revenue from exporting in the next 12 months. With the survey results showing that small businesses that are exporting are more likely to be growing and creating jobs, this focus is a strong competitive advantage for Hong Kong s small businesses and the broader economy. While such an external focus does come with risks, including foreign exchange risks and the potential for downturns in key markets, the advantages of exporting over focusing on the domestic market are significant. A focus on the domestic market limits growth potential and increases the business s risk exposure should the local economy slow. It also means that the business may be less exposed to competitive pressures, which the survey results show may have a negative impact on innovation and growth. Further, the business may be less exposed to new ideas from other markets, which may also negatively impact innovation. For Hong Kong s small businesses to maintain this competitive advantage, more businesses should be looking to export, not only to the Mainland but to other fast-growing economies such as Indonesia and Vietnam. Small businesses are also more likely to expect strong growth in their earnings from overseas in the next 12 markets if: the business is from the manufacturing sector the businesses has between 5 and 19 employees the respondent is aged under 50 the business has been established for less than 21 years. KEY FINDING With Hong Kong s small businesses being more likely to focus on exporting than nearly all other markets, this is a competitive advantage for its businesses and the economy. With a strong connection between exporting and growth and jobs, more Hong Kong small businesses should consider exporting as part of their business strategy.

16 16 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT SOCIAL MEDIA With the survey results showing a strong connection between social media use and business growth, the near universal usage of social media by Hong Kong s small businesses is a competitive advantage. Small businesses that used social media in their business a comparison between Hong Kong, Shanghai and Singapore 100% Shanghai 90% Hong Kong 80% Singapore 70% 60% With the survey results showing a connection between social media use for business purposes and business growth, the very strong uptake of social media amongst Hong Kong s small businesses gives them a competitive advantage over businesses from Singapore, New Zealand and Australia where the number of small businesses using social media is much lower. With customers being increasingly likely to seek to communicate and transact with businesses via social media, a robust social media presence should enhance a small business s ability to attract, retain and transact with customers. It may also enhance their brand reputation and assist them to grow their business. Those that use social media use it for a variety of purposes including communicating with existing customers, promoting their business to potential customers, and selling their products or services. Small businesses are significantly less likely to be using social media for business purposes where: the respondent is aged 50 or over the business has been established for over 20 years the business has four or fewer staff. KEY FINDING With small businesses using social media being more likely to grow, the large-scale adoption of social media by Hong Kong s small businesses is a competitive advantage that should help generate future growth.

17 17 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT JOBS AND SMALL BUSINESSES Reflecting more positive business conditions, nearly one-third of Hong Kong small businesses plan to increase their headcount in Small businesses that increased employee numbers in the past 12 months a comparison between Hong Kong, Shanghai and Singapore 50% 40% Shanghai 30% Hong Kong 20% Singapore 10% Small businesses that plan to increase employee numbers in the next 12 months a comparison between Hong Kong, Shanghai and Singapore 50% Shanghai 40% 30% 20% Hong Kong Singapore 10%

18 18 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Relationship between jobs creation and business growth, innovation, exporting and e-commerce BUSINESS GROWTH Percentage that expect to increase employee numbers in the next 12 months Expecting to grow in the coming 12 months NOT expecting to grow in the coming 12 months INNOVATION Definitely expecting to introduce a new product, service or process unique to their country or the world NOT expecting to introduce a new product, service or process unique to their country or the world EXPORTING Expect to grow export revenue strongly NOT expecting to sell into overseas markets

19 19 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT E-COMMERCE Expect to grow their e-commerce presence to a large extent NOT expecting to grow their e-commerce presence The jump in the number of Hong Kong businesses that are expecting their business to grow in 2016 from 2015 is flowing through to jobs, with 32.8 per cent of Hong Kong s small businesses planning to increase employee numbers in the next 12 months. Other factors contributing to this healthy reading of jobs growth is the strong focus on e-commerce and exporting by many of Hong Kong s small businesses. While Hong Kong s small businesses are significantly less likely to be creating jobs than businesses from Indonesia, Vietnam and the Mainland, they are more likely to do so than Singaporean, Australian and New Zealand small businesses. Over the next 12 months, businesses that expect to increase employee numbers are also significantly more likely to: intend to significantly increase their e-commerce presence strongly grow their revenue from overseas sales innovate through definitely introducing a new product, service or process. Small businesses are also more likely to expect to increase employee numbers over the next 12 months if: the business is in the manufacturing, accommodation or food services industries the business has between 5 and 19 staff the respondent is aged under 40. KEY FINDING A stronger focus on innovation should lead to more Hong Kong small businesses increasing their headcount.

20 20 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT BUSINESS AND ECONOMIC CONDITIONS Hong Kong small business confidence in the growth prospects for the local economy and their own small business is up in Small businesses that grew over the past 12 months by market 4 Indonesia Vietnam China 57% 63% 70% 34% 26% 8% Malaysia Hong Kong Singapore 51% 49% 55% 9% 12% 14% New Zealand 41% 15% Australia 32% 13% Grown A Little Grown Strongly Small businesses that expect their business to grow in the coming 12 months, 2009 to 2015 by market 100% 90% 80% 70% 60% 50% 40% Vietnam Mainland China Singapore New Zealand Malaysia Indonesia Hong Kong Australia 30% All data for China excludes Hong Kong, which is shown separately.

21 21 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Small businesses that expect their local economy to grow over the next 12 months, 2011 to 2015 by market 100% 90% 80% 70% 60% 50% 40% Australia Hong Kong Indonesia Malaysia New Zealand Singapore Mainland China Vietnam 30% 20% Just over half of Hong Kong s respondents (52.1 per cent) expect Hong Kong s economy to grow in 2016, a 12.7 percentage point increase from their forecast for This positivity is expected to flow through to business growth, with 55.1 per cent of Hong Kong small businesses expecting their business to grow in the next 12 months, a 16.1 percentage point jump from their forecast for Despite these large increases in confidence, Hong Kong s small businesses remain the least positive of the markets surveyed, slightly below Australia and Singapore. Having said that, with many small businesses focused on e-commerce, social media and exporting (which the survey results show are important drivers of growth), there is much to be confident about for 2016 and beyond. This increase in economic and business confidence comes at a time when Hong Kong s economy is facing a range of external pressures including slowing growth in the Mainland (although it remains very robust), uncertainty over US interest rates and weaker than expected recoveries in the economies of the US, Japan and the euro area. Small businesses that expect to innovate, grow their e-commerce presence to a large extent and strongly grow revenue from exports are significantly more likely to expect their business to grow in the next 12 months. In addition, small businesses are also more likely to expect to grow if: they have between 5 and 19 employees the respondent is aged under 50 the business reported growing in the past 12 months. Further, small businesses are more likely to expect their local economy to grow if: they have between 5 and 19 employees they are in the manufacturing, property or construction sector the respondent is aged under 40.

22 22 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT KEY FINDING A stronger focus on innovation should lead to more Hong Kong small businesses experiencing growth.

23 23 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT ACCESSING FINANCE Access to finance for Hong Kong s small businesses became easier over the past 12 months. Access to finance the percentage that experienced easy to very easy financing conditions in the previous 12 months Indonesia 60.6% Indonesia 56.3% China 59.3% New Zealand 53.7% Australia 54.3% Australia 48.1% New Zealand 50.0% China 33.4% Hong Kong 43.5% Malaysia 32.3% Singapore 34.1% Vietnam 32.0% Malaysia 31.8% Singapore 30.9% Vietnam 29.7% Hong Kong 29.9% Access to finance became easier for many Hong Kong small businesses that sought external finance in the past 12 months than in These easier financing conditions may have encouraged more Hong Kong small businesses to seek external finance, with 78.1 per cent seeking external finance in the past 12 months, up from 69.1 per cent in the preceding 12 months. It should be noted that this result is well above the number of Australian and New Zealand small businesses that sought external finance over the same period, even though small businesses in those markets experienced easier financing conditions. Banks are the most popular source of finance for Hong Kong s small businesses, followed by investors. Hong Kong s small businesses were most likely to have sought external finance to assist with business growth. Hong Kong s small businesses were, however, the most likely to have borrowed in the past 12 months to cover increasing expenses, increasing rent and increasing borrowing expenses. A stronger focus on cash flow management and cost control should see fewer businesses borrow for these purposes. 5 All data for China excludes Hong Kong, which is shown separately.

24 24 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT KEY FINDING Accessing finance became easier for many of Hong Kong s small businesses in A stronger focus on cash flow and cost control should see the number of Hong Kong s small businesses borrowing to cover increasing costs, rent and borrowing expenses fall.

25 25 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT APPENDICES HONG KONG DATA SNAPSHOT Business and economic growth Small businesses that expect their business to grow - Hong Kong against survey average Hong Kong small businesses that expect their business to grow against small business growth expectations for Hong Kong's economy 90% 90% 70% 70% 50% 50% 30% Survey average Hong Kong 30% Expect local economy to grow Expect their business to grow 2015 Rank Rank survey average Businesses that grew in the past 12 months 63.8% 5/8 46.5% 7/8 68.2% Businesses that expect to grow in the next 12 months Businesses that expect the local economy to grow in the next 12 months 55.1% 8/8 39.0% 8/8 70.7% 52.1% 5/8 39.4% 8/8 61.1%

26 26 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Business activity over the past 12 months 2015 Rank Rank survey average Increased employee numbers 32.5% 4/8 18.1% 6/8 33.1% Improved business management had a major positive impact on their business Increasing costs had a major negative impact on their business 20.4% 5/8 N/A N/A 25.4% 41.9% 3/8 N/A N/A 39.0% Required funds from an external source 78.1% 4/8 69.9% 5/8 59.9% Sought external funds for business growth 50.2% 6/8 51.8% 6/8 56.3% Found it easy or very easy to access external finance Rent was the most detrimental factor impacting their business 43.5% 5/8 29.9% 8/8 47.6% 41.9% 1/8 N/A N/A 22.9% Planned business activity over the next 12 months 2015 Rank Rank survey average Increase employee numbers 32.8% 5/8 22.7% 6/8 41.8% Definitely expect to introduce a new product, service or process unique to their market or the world Expect to grow their e-commerce presence to a large extent Expect revenue from overseas markets to grow strongly Expect to significantly increase spending on marketing and promotion Expect to grow their investment in assets strongly 17.7% 5/8 N/A N/A 22.0% 42.6% 2/8 N/A N/A 32.2% 22.3% 2/8 N/A N/A 19.1% 24.5% 4/8 N/A N/A 22.8% 23.4% 4/8 N/A N/A 23.1% Definitely will seek external funds 31.3% 4/8 18.1% 5/8 29.2% Expect easy to very easy access to finance 41.7% 3/8 27.3% 7/8 43.3% Expect to seek external finance to fund growth 51.9% 6/8 49.5% 7/8 59.7%

27 27 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Social media and e-commerce 2015 Rank Rank survey average Earned revenue from online sales 80.4% 4/8 75.5% 5/8 68.9% Used social media for business purposes 93.2% 4/8 87.9% 5/8 81.4% Demographics 2015 Rank Rank survey average Business is 10 years old or younger 58.9% 6/8 60.6% 5/8 65.6% Respondent is aged 39 or younger 63.4% 4/8 55.7% 6/8 53.3%

28 28 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT COMPARISON OF RESULTS BETWEEN HONG KONG, SHANGHAI AND SINGAPORE Key results Business and economic growth Hong Kong Shanghai Singapore Businesses that grew in the last 12 months 63.8% 79.5% 58.7% Businesses that expect to grow in the next 12 months 55.1% 76.9% 56.5% Businesses that expect the local economy to grow in the next 12 months 52.1% 71.1% 48.1% Jobs creation Hong Kong Shanghai Singapore Increased employee numbers over the PAST 12 months 32.5% 39.7% 19.7% Plan to increase employee numbers over the NEXT 12 months 32.8% 45.5% 27.7% Innovation Hong Kong Shanghai Singapore Definitely expect to introduce a new product, service or process unique to their market or the world 17.7% 25.0% 15.2% Online sales and social media Hong Kong Shanghai Singapore Earned revenue from online sales 80.4% 92.3% 63.6% Expect to grow their e-commerce presence to a large extent in the next 12 months 42.6% 29.5% 19.4% Used social media for business purposes 93.2% 96.2% 79.6%

29 29 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT Exporting Hong Kong Shanghai Singapore Expect revenue from overseas markets to grow strongly over the next 12 months 22.3% 10.9% 17.7% Improved business management Hong Kong Shanghai Singapore Improved business management had a major positive impact on their business 20.4% 32.1% 20.3% Costs Hong Kong Shanghai Singapore Increasing costs had a major negative impact on their business 41.9% 39.1% 36.1% Rent was the cost increase most detrimental to their business 41.9% 41.7% 32.6%

30 30 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 HONG KONG REPORT ABOUT THE SURVEY The CPA Australia Asia-Pacific Small Business Survey 2015 is part of a longitudinal annual study of small business conducted by CPA Australia since This report presents a cross-market comparison between the eight markets surveyed and, where applicable, a comparison of results from 2009 onwards. The survey was conducted between 24 September and 14 October The mainland of China and Vietnam were included in the survey for the first time in Indonesia and New Zealand were included in The survey in the mainland of China was conducted in Beijing, Chongqing, Guangzhou and Shanghai. All data for China excludes Hong Kong, which is shown separately. Interview method In each market, the online survey was conducted amongst a random sample of small business owners/managers. The sample was obtained through online panel provider Research Now and their Asian panel partner ipanelonline. To qualify for the survey, participants were required to be an owner, a senior manager (defined as being a director, a principal, a CEO, a CFO, a senior manager or a managing director) or a qualified accountant of a business with fewer than 20 employees. Sample In total, 2932 participants completed the survey, including 510 from Australia, 610 from the mainland of China, 265 from Hong Kong, 306 from Indonesia, 310 from Malaysia, 311 from New Zealand, 310 from Singapore and 310 from Vietnam. Of the 610 participants from the mainland of China, 155 were from Beijing, 152 were from Chongqing, 147 were from Guangzhou and 156 were from Shanghai. Questioning Questions on small business confidence, employment, social media, costs and access to finance were drawn from previous surveys. Some slight modifications to question wording were made to a number of those repeated questions. Questions on innovation, major influences on the business environment, e-commerce, spending on marketing and assets and exporting are new in this survey. Questionnaires in Australia, Singapore and New Zealand were administered in English. The Hong Kong questionnaire was administered in traditional Chinese, the questionnaire for Malaysia was administered in both English and Bahasa Malaysia, Indonesia s questionnaire was administered in Bahasa Indonesia, China s questionnaire was administered in simplified Chinese, and Vietnam s questionnaire was administered in Vietnamese. Rounding All percentage results shown in this report have been rounded.

31 29 cpaaustralia.com.au

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015

THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY 2015 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS SURVEY GENERAL REPORT FOR AUSTRALIA, CHINA, HONG KONG, INDONESIA, MALAYSIA, NEW ZEALAND, SINGAPORE AND VIETNAM 2 THE CPA AUSTRALIA ASIA-PACIFIC SMALL BUSINESS

More information

The CPA Australia Asia-Pacific Small Business Survey 2012. Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore

The CPA Australia Asia-Pacific Small Business Survey 2012. Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore The CPA Australia Asia-Pacific Small Business Survey Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies

More information

The CPA Australia. Asia-Pacific Small Business Survey 2011. Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore

The CPA Australia. Asia-Pacific Small Business Survey 2011. Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore The CPA Australia Asia-Pacific Small Business Survey Australia, Hong Kong, Indonesia, Malaysia, New Zealand and Singapore CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies

More information

Access to Finance: Tips to Guide SMEs

Access to Finance: Tips to Guide SMEs Access to Finance: Tips to Guide SMEs CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies representing more than 139,000 members of the financial, accounting and business

More information

Understanding and Managing Interest Rate Risk

Understanding and Managing Interest Rate Risk Understanding and Managing Interest Rate Risk Finance & Treasury April 2008 CPA Australia Ltd ( CPA Australia ) is the sixth largest professional accounting body in the world with more than 117,000 members

More information

A guide to managing foreign exchange risk

A guide to managing foreign exchange risk A guide to managing foreign exchange risk CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies with more than 122,000 members of the financial, accounting and business profession

More information

Renminbi Depreciation and the Hong Kong Economy

Renminbi Depreciation and the Hong Kong Economy Thomas Shik Acting Chief Economist thomasshik@hangseng.com Renminbi Depreciation and the Hong Kong Economy If the recent weakness of the renminbi persists, it is likely to have a positive direct impact

More information

Guide to managing commodity risk

Guide to managing commodity risk Guide to managing commodity risk October 2012 ISBN: 978-1-921742-33-0 CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies representing more than 139,000 members of the financial,

More information

Trade Confidence Survey Australia:1H 2015

Trade Confidence Survey Australia:1H 2015 Trade Confidence Survey Australia:1H 2015 About the Survey The HSBC Trade Confidence Survey gauges business sentiment and expectations on trade activity and business growth over a six month time horizon.

More information

Concept report: The Australian Personal Loans Market - Targeting the high value personal loan customer

Concept report: The Australian Personal Loans Market - Targeting the high value personal loan customer Concept report: The Australian Personal Loans Market - Targeting the high value personal loan customer www.rfintelligence.com About RFi Group RFi Group is a global intelligence and media provider focusing

More information

A GUIDE TO UNDERSTANDING AUDITING AND ASSURANCE:

A GUIDE TO UNDERSTANDING AUDITING AND ASSURANCE: A GUIDE TO UNDERSTANDING AUDITING AND ASSURANCE: LISTED COMPANIES OCTOBER 2014 BE HEARD. BE RECOGNISED. 2 A GUIDE TO UNDERSTANDING AUDITING AND ASSURANCE CPA Australia Ltd ( CPA Australia ) is one of the

More information

Servcorp Limited Analyst Presentation. Presented by Alf Moufarrige, CEO Taine Moufarrige, Executive Director

Servcorp Limited Analyst Presentation. Presented by Alf Moufarrige, CEO Taine Moufarrige, Executive Director Servcorp Limited Analyst Presentation Presented by Alf Moufarrige, CEO Taine Moufarrige, Executive Director Wednesday 23 February 2011 1 Operational Highlights H1 2011 Mature floor NPBT of $13.32 million

More information

Cloud computing. Advantages and disadvantages

Cloud computing. Advantages and disadvantages Cloud computing Advantages and disadvantages CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies representing more than 139,000 members of the financial, accounting and

More information

AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1

AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1 AUSTRALIA S EXPORTS OF EDUCATION SERVICES 1 Introduction Australia s education services exports have continued to grow in importance this decade. Since 1982, education services exports have grown at an

More information

January 2015 business.westernunion.com.au

January 2015 business.westernunion.com.au Western Union Business Solutions Currency Outlook January 2015 business.westernunion.com.au What s coming up Steven Dooley Currency Strategist APAC 2 History in the making! These are historic times US

More information

2014 GLOBAL CUSTOMER SERVICE BAROMETER COMPARISON OF FINDINGS ACROSS MARKETS

2014 GLOBAL CUSTOMER SERVICE BAROMETER COMPARISON OF FINDINGS ACROSS MARKETS 2014 GLOBAL CUSTOMER SERVICE BAROMETER COMPARISON OF FINDINGS ACROSS MARKETS Research Methods This research was completed online among a random sample of consumers aged 18+ in: U.S. Canada Mexico Italy

More information

global ENTERPRISE SURVEY REPORT 2011 asia-pacific

global ENTERPRISE SURVEY REPORT 2011 asia-pacific global ENTERPRISE SURVEY REPORT 2011 asia-pacific A UNIQUE AnnuAL insight into the competitiveness of ASIA-PAcific businesses And developments in GLOBALisAtion business with confidence icaew.com/smeresearch

More information

PROFESSIONAL SCEPTICISM: LOOKING BOTH WAYS ON A ONE WAY STREET

PROFESSIONAL SCEPTICISM: LOOKING BOTH WAYS ON A ONE WAY STREET 1 PROFESSIONAL SCEPTICISM PROFESSIONAL SCEPTICISM: LOOKING BOTH WAYS ON A ONE WAY STREET A CONVERSATION ABOUT PROFESSIONAL SCEPTICISM WITH LEADERS OF THE AUDIT PROFESSION, PSYCHOLOGISTS AND BEHAVIOURAL

More information

Singaporean exports set to accelerate due to Asian economic rebound and global trade agreements coming online

Singaporean exports set to accelerate due to Asian economic rebound and global trade agreements coming online News Release 29 May 2015 Singaporean exports set to accelerate due to Asian economic rebound and global trade agreements coming online ** Singapore expected to see one of the highest trade growth rates

More information

THE HUDSON REPORT HONG KONG EMPLOYMENT AND HR TRENDS OCTOBER - DECEMBER 2011 FROM GREAT PEOPLE TO GREAT PERFORMANCE

THE HUDSON REPORT HONG KONG EMPLOYMENT AND HR TRENDS OCTOBER - DECEMBER 2011 FROM GREAT PEOPLE TO GREAT PERFORMANCE THE HUDSON REPORT EMPLOYMENT AND HR TRENDS OCTOBER - DECEMBER 2011 HONG KONG FROM GREAT PEOPLE TO GREAT PERFORMANCE INTRODUCTION The Hudson Report is an established and highly respected publication, based

More information

Self-managed super funds insights

Self-managed super funds insights Self-managed super funds insights November 29 Ltd ( ) is one of the world s largest accounting bodies with more than 122, members of the financial, accounting and business profession in countries. For

More information

Standard Chartered Hong Kong SME Leading Business Index

Standard Chartered Hong Kong SME Leading Business Index Standard Chartered Hong Kong SME Leading Business Index Quarter 2, 2015 About the index Sponsored by Standard Chartered Bank (Hong Kong) Limited, the Standard Chartered Hong Kong SME Leading Business Index

More information

VIETNAM B2C E-COMMERCE MARKET 2015

VIETNAM B2C E-COMMERCE MARKET 2015 PUBLICATION DATE: AUGUST 2015 PAGE 2 GENERAL INFORMATION I PAGE 3 KEY FINDINGS I PAGE 4-5 TABLE OF CONTENTS I PAGE 6 REPORT-SPECIFIC SAMPLE CHARTS I PAGE 7 METHODOLOGY I PAGE 8 RELATED REPORTS I PAGE 9

More information

+20. Outsourcing feature STEPHEN MALLON/GETTY IMAGES

+20. Outsourcing feature STEPHEN MALLON/GETTY IMAGES +20 Outsourcing feature STEPHEN MALLON/GETTY IMAGES [ 20 ] A Plus + September 2007 Outsourcing to Asia Business outsourcing to Asia is a fast growing trend what does this mean for Hong Kong accountants?

More information

ANNUAL REPORT FOR THE 2011/12 FINANCIAL YEAR

ANNUAL REPORT FOR THE 2011/12 FINANCIAL YEAR ANNUAL REPORT FOR THE 20 FINANCIAL YEAR 15 August 2012 1 AGENDA THE FULL YEAR AND FOURTH QUARTER HIGHLIGHTS Tue Mantoni, CEO THE FINANCIAL RESULT FOR THE FOURTH QUARTER OF 20 Henning Bejer Beck, CFO THE

More information

Asian Stock Markets in 2015:

Asian Stock Markets in 2015: Asian Stock Markets in 2015: Expected trends and the role of Asian Funds Passports Dr. Andrew Freris CEO, Ecognosis Advisory Ltd March 2015 1 Summary, Part I The Asian markets which outperformed in 2014,

More information

Asia-Pacific Datacenter Services Market 2010 New Contenders Emerging on the Horizon

Asia-Pacific Datacenter Services Market 2010 New Contenders Emerging on the Horizon Asia-Pacific Datacenter Services Market 2010 New Contenders Emerging on the Horizon June 2012 Contents Section Slide Numbers Executive Summary 4 Market Overview 10 Australian Datacenter Services Market

More information

Australia s 2030 Emission Reduction Target

Australia s 2030 Emission Reduction Target Australia s 2030 Emission Reduction Target Strong, credible, responsible The Australian Government will reduce greenhouse gas emissions to 26 28 per cent below 2005 levels by 2030. Our target is a step

More information

A Long-term Forecast of Demographic Transition in Japan and Asia

A Long-term Forecast of Demographic Transition in Japan and Asia A Long-term Forecast of Demographic Transition in Japan and Asia Takao Komine Professor, Hosei University Why is the Population Problem Important for Asia Today? 1. The uncertainty of population forecasts

More information

The Value of Financial Planning

The Value of Financial Planning The Value of Financial Planning FPSB s Global Consumer Survey Danel Kuhlmann Financial Planning Standards Board Marketing & Communications Director 1 Copyright 2015 Financial Planning Standards Board Who

More information

The Westpac Group third quarter 2011 sound core earnings growth

The Westpac Group third quarter 2011 sound core earnings growth Media Release 16 August 2011 The Westpac Group third quarter 2011 sound core earnings growth Third quarter 2011 highlights (compared to results for the average of 1Q and 2Q 2011) 1 Cash earnings of approximately

More information

Private Equity in Asia

Private Equity in Asia Private Equity in Asia October 21 Asia private equity, in particular China, has increasingly attracted attention from institutional investors due to the region s faster economic recovery, greater growth

More information

AN OVERVIEW OF APES 110 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS

AN OVERVIEW OF APES 110 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS LICENCES AND REGISTRATIONS FOR PUBLIC PRACTITIONERS 1 1 AN OVERVIEW OF APES 110 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS AN OVERVIEW OF APES 110 CODE OF ETHICS FOR PROFESSIONAL ACCOUNTANTS The objective

More information

International Education in the Comox Valley: Current and Potential Economic Impacts

International Education in the Comox Valley: Current and Potential Economic Impacts International Education in the Comox Valley: Current and Potential Economic Impacts FINAL REPORT March 2012 Prepared by: Vann Struth Consulting Group Inc. Vancouver, BC www.vannstruth.com Prepared for:

More information

6. Economic Outlook. The International Economy. Graph 6.2 Terms of Trade Log scale, 2012/13 average = 100

6. Economic Outlook. The International Economy. Graph 6.2 Terms of Trade Log scale, 2012/13 average = 100 6. Economic Outlook The International Economy Growth of Australia s major trading partners is expected to be around its long-run average in 015 and 016 (Graph 6.1). Forecasts for 015 have been revised

More information

Best of the Best Benchmark. Adobe Digital Index APAC 2015

Best of the Best Benchmark. Adobe Digital Index APAC 2015 Best of the Best Benchmark Adobe Digital Index APAC 2015 ADOBE DIGITAL INDEX Best of the Best Benchmark (APAC) This report covers the performance of companies in Asia Pacific region, including Japan (APAC).

More information

Insurance market outlook

Insurance market outlook Munich Re Economic Research 2 May 2013 Global economic recovery provides stimulus to the insurance industry long-term perspective positive as well Once a year, MR Economic Research produces long-term forecasts

More information

P R E S S R E L E A S E

P R E S S R E L E A S E Hong Kong, May 22, 2013 Survey reveals corporate overdue payment in Asia Pacific region deteriorated in 2012 - Companies are less optimistic about recovery of global economy in 2013 A survey of corporate

More information

Asia-Pacific Secure Content Management Market 2012 Stable Growth is Anticipated in the email and Web Security Segments

Asia-Pacific Secure Content Management Market 2012 Stable Growth is Anticipated in the email and Web Security Segments Asia-Pacific Secure Content Management Market 2012 Stable Growth is Anticipated in the email and Web Security Segments October 2013 Contents Section Slide Number Executive Summary 5 Market Overview 11

More information

EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA. October 2015. eastspring.co.id

EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA. October 2015. eastspring.co.id EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA October 2015 eastspring.co.id 2 Asia Investor Behaviour Study 2015 - Indonesia Asia Investor Behaviour Study 2015 - Indonesia CONTENTS

More information

PHILIPPINES B2C E-COMMERCE MARKET 2015

PHILIPPINES B2C E-COMMERCE MARKET 2015 PUBLICATION DATE: AUGUST 2015 PAGE 2 GENERAL INFORMATION I PAGE 3 KEY FINDINGS I PAGE 4-5 TABLE OF CONTENTS I PAGE 6 REPORT-SPECIFIC SAMPLE CHARTS I PAGE 7 METHODOLOGY I PAGE 8 RELATED REPORTS I PAGE 9

More information

New South Wales State and Regional Population Projections 2001-2051. 2004 Release TRANSPORT AND POPULATION DATA CENTRE

New South Wales State and Regional Population Projections 2001-2051. 2004 Release TRANSPORT AND POPULATION DATA CENTRE New South Wales State and Regional Population Projections 21-251 251 24 Release TRANSPORT AND POPULATION DATA CENTRE THE TRANSPORT AND POPULATION DATA CENTRE (TPDC) The TPDC is located in the NSW Department

More information

Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit.

Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit. PMI Purchasing Managers Index (PMI ) series are monthly economic surveys of carefully selected companies compiled by Markit. They provide an advance signal of what is really happening in the private sector

More information

ANNUAL GENERAL MEETING CHAIRMAN AND CEO ADDRESS

ANNUAL GENERAL MEETING CHAIRMAN AND CEO ADDRESS SLIDE CHAIRMAN S ADDRESS Chairman s Address Allan English ANNUAL GENERAL MEETING CHAIRMAN AND CEO ADDRESS MEDIA/ASX ANNOUNCEMENT October 24, 2013 I am pleased to report that Silver Chef has achieved another

More information

2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey

2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey 2010 Expatriate, Returnee and China Hired Foreigner, Compensation and Benefits Survey Result Sharing Presentation The American Chamber of Commerce in Shanghai Agenda Study Background Growth Expatriates

More information

Risk management guide for small to medium businesses

Risk management guide for small to medium businesses Risk management guide for small to medium businesses For information about CPA Australia, visit our website cpaaustralia.com.au First published CPA Australia Ltd ACN 008 392 452 385 Bourke Street Melbourne

More information

Guide To The Online Advertising Market in China

Guide To The Online Advertising Market in China Guide To The Online Advertising Market in China It is hard to deny that Asia-Pacific is already a giant in the online advertising market since the ad expenditures in the region have reached $27.3 billion

More information

TRENDS IN IRISH TOURISM. A report for Dublin Port Company Limited

TRENDS IN IRISH TOURISM. A report for Dublin Port Company Limited TRENDS IN IRISH TOURISM A report for Dublin Port Company Limited February 2011 SECTION 1 RECENT TRENDS IN IRISH TOURISM Economic Significance of Tourism Since 2007 the growth dynamic of the Irish economy

More information

APEC s evolving supply chain

APEC s evolving supply chain 2012 APEC CEO Summit: PwC issues spotlight APEC s evolving supply chain Leading up to this year s Asia-Pacific Economic Cooperation CEO Summit in Vladivostok, Russia on September 7 8, PwC is sharing a

More information

HSBC in China. Presentation to Citi Global Financial Conference. Helen Wong Group General Manager, President and Chief Executive Officer, HSBC China

HSBC in China. Presentation to Citi Global Financial Conference. Helen Wong Group General Manager, President and Chief Executive Officer, HSBC China HSBC in China Presentation to Citi Global Financial Conference Helen Wong Group General Manager, President and Chief Executive Officer, HSBC China November 2012 Forward-looking statements This presentation

More information

Russell Group response to the Home Office consultation on regulating migrant access to health services in the UK

Russell Group response to the Home Office consultation on regulating migrant access to health services in the UK Russell Group response to the Home Office consultation on regulating migrant access to health services in the UK 1. Summary We urge the Government not to introduce charges for temporary migrants for access

More information

Weiqiao Textile Announces its 2015 Interim Results

Weiqiao Textile Announces its 2015 Interim Results Weiqiao Textile Announces its 2015 Interim Results Seize new opportunities in new normal development phase Continued leadership against the backdrop of industry changes Financial Summary Revenue was approximately

More information

HUDSON SALARY GUIDES 2015

HUDSON SALARY GUIDES 2015 Singapore HUDSON SALARY GUIDES 2015 Sales & Marketing about this publication This Salary Guide is a compilation of salary and market information provided by Hudson consultants, clients, candidates and

More information

Legal Private Practice Market Report & Salary Survey 2012/2013 Hong Kong

Legal Private Practice Market Report & Salary Survey 2012/2013 Hong Kong Legal Private Practice Market Report & Salary Survey 2012/2013 Hong Kong Introduction Welcome to the Taylor Root Hong Kong Private Practice market report for 2012/2013. Our report includes an appraisal

More information

Servcorp Limited Analyst Presentation

Servcorp Limited Analyst Presentation Servcorp Limited Analyst Presentation Alf Moufarrige, CEO Thomas Wallace, CFO Thursday 25 February, 2010 Six Months ended 31 December 2009 1 Operational Highlights H1 2010 Mature floor NPBT of $12.05 million

More information

Legislative Council Panel on Economic Services

Legislative Council Panel on Economic Services For discussion on 25 January 1999 Legislative Council Panel on Economic Services PROMOTION OF HONG KONG AS AN INTERNATIONAL SHIPPING CENTRE Purpose This paper aims to inform members of a series of new

More information

FY14 Results 25 February 2015

FY14 Results 25 February 2015 FY14 Results 25 February 2015 Generating positive cash flow and profit Achieving growth across all key metrics Statutory Earnings: EBITDA of $1.2m Revenue up 79% to $45.1m NPAT of $476k Strong growth in

More information

INDUSTRY OVERVIEW SOURCE OF INFORMATION. Report prepared by Euromonitor

INDUSTRY OVERVIEW SOURCE OF INFORMATION. Report prepared by Euromonitor The information that appears in this Industry Overview has been prepared by Euromonitor International Limited and reflects estimates of market conditions based on publicly available sources and trade opinion

More information

THAILAND B2C E-COMMERCE MARKET 2015

THAILAND B2C E-COMMERCE MARKET 2015 PUBLICATION DATE: AUGUST 2015 PAGE 2 GENERAL INFORMATION I PAGE 3 KEY FINDINGS I PAGE 4-5 TABLE OF CONTENTS I PAGE 6 REPORT-SPECIFIC SAMPLE CHARTS I PAGE 7 METHODOLOGY I PAGE 8 RELATED REPORTS I PAGE 9

More information

WORLD. Geographic Trend Report for GMAT Examinees

WORLD. Geographic Trend Report for GMAT Examinees 2011 WORLD Geographic Trend Report for GMAT Examinees WORLD Geographic Trend Report for GMAT Examinees The World Geographic Trend Report for GMAT Examinees identifies mobility trends among GMAT examinees

More information

Trends in Australia s Exports 1

Trends in Australia s Exports 1 April 2 Trends in Australia s Exports 1 The reduction of trade barriers, and cheaper transportation and communication costs have contributed to Australia becoming more open and more closely integrated

More information

[Figure 1 on Page 6] [Survey of individual investors in Japan, the U.S. and China (H.K.)]

[Figure 1 on Page 6] [Survey of individual investors in Japan, the U.S. and China (H.K.)] Twelfth Monex Global Retail Survey Individual investors expectations for the U.S. market grows. The DI of the forecast for world stock markets by individual investors for the coming three months remained

More information

Media Release. 1 P a g e

Media Release. 1 P a g e Media Release Helping SMEs Recalibrate for Quality Growth - SMPs should pay attention to SMEs growing demand for advisory services, especially in Tax, Risk Management and Financial Management Singapore,

More information

Statement by Kasper Rorsted Chairman of the Management Board Conference-Call November 11, 2015, 10.30 a.m.

Statement by Kasper Rorsted Chairman of the Management Board Conference-Call November 11, 2015, 10.30 a.m. Statement by Kasper Rorsted Chairman of the Management Board Conference-Call November 11, 2015, 10.30 a.m. Welcome to our conference call today. As you will have seen, this morning we sent out our news

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

What is driving Australians' travel choices?

What is driving Australians' travel choices? What is driving Australians' travel choices? What is driving Australians' travel choices? ISBN 978-1-921812-45-3 Tourism Research Australia Department of Resources, Energy and Tourism GPO Box 1564 Canberra

More information

The rise of the cross-border transaction. Grant Thornton International Business Report 2013

The rise of the cross-border transaction. Grant Thornton International Business Report 2013 The rise of the cross-border transaction Grant Thornton International Business Report 2013 Foreword MIKE HUGHES GLOBAL SERVICE LINE LEADER MERGERS & ACQUISITIONS GRANT THORNTON INTERNATIONAL LTD When reflecting

More information

Cross-border ecommerce

Cross-border ecommerce Cross-border ecommerce Opening doors for Victorian businesses around the world ecommerce into China 9 March 2016 Charles Thompson General Manager, International Australia Post StarTrack Group A changing

More information

Procurement Outsourcing Services¹

Procurement Outsourcing Services¹ Procurement Outsourcing Services¹ The following overview of the procurement outsourcing services in Australia is mainly based on the information provided by IBISWorld and consists of additional information

More information

Superannuation and Private Equity

Superannuation and Private Equity BUSINESS MANAGEMENT Superannuation and Private Equity A research paper on superannuation fund investment in private equity MAY 2006 CPA Australia is the largest professional organisation in Australia with

More information

China Is Not Global Business Panacea

China Is Not Global Business Panacea NEWS RELEASE For immediate release, 8 February 2012 China Is Not Global Business Panacea Say China s Business Leaders SHANGHAI, China. 8 February 2012 China s captains of industry have expressed caution

More information

Competency Requirements

Competency Requirements Representatives of the Australian Accounting Profession CPA Australia Ltd, The Institute of Chartered Accountants in Australia & the National Institute of Accountants Competency Requirements For Auditors

More information

SERVCORP LIMITED ABN 97 089 222 506 APPENDIX 4E. Preliminary Final Report for the financial year ended 30 June 2009

SERVCORP LIMITED ABN 97 089 222 506 APPENDIX 4E. Preliminary Final Report for the financial year ended 30 June 2009 SERVCORP LIMITED APPENDIX 4E Preliminary Final Report for the financial year ended The information in this document should be read in conjunction with the 2009 and any public announcements made during

More information

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley

GLOBAL TRENDS IN HIGHER EDUCATION. David Stockley GLOBAL TRENDS IN HIGHER EDUCATION David Stockley Beijing May 2011 KEY TRENDS 1. Changing gglobal demographics 2. Increasing global student mobility 3. Higher education as a global market 4. Declining public

More information

The Importance of Corporate Governance for an International Financial Centre

The Importance of Corporate Governance for an International Financial Centre The Importance of Corporate Governance for an International Financial Centre Eddy Fong Chairman 9 September 2008 Good morning ladies and gentlemen. I would like to start by congratulating the Chamber of

More information

Stock Investor Survey

Stock Investor Survey Stock Investor Survey Hong Kong June 2006 CONTENTS 1. Executive Summary 1 2. Retail Participation and Demographic Profile of Stock Investors 6 3. Choice of Intermediary 7 Ways to Improve Securities Trading

More information

Chinese students and the higher education market in Australia and New Zealand.

Chinese students and the higher education market in Australia and New Zealand. Chinese students and the higher education market in Australia and New Zealand. by Ma Xiaoying English Department North China Electric University, Beijing, China and Malcolm Abbott Centre for Research in

More information

Domain House Price Report June Quarter 2015

Domain House Price Report June Quarter 2015 Domain House Price Report June Quarter 2015 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Sydney market reports remarkable growth over June quarter to reach median house price of

More information

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar

Factors affecting the inbound tourism sector. - the impact and implications of the Australian dollar Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar 1 Factors affecting the inbound tourism sector - the impact and implications of the Australian dollar

More information

Asian Animation Industry. Asian Animation Industry: Strategies, Trends and Opportunities. Page 1

Asian Animation Industry. Asian Animation Industry: Strategies, Trends and Opportunities. Page 1 Asian Animation Industry: Strategies, Trends and Opportunities Page 1 Table of Contents Introduction Animation in Asian Societies Establishment of Local Animation Industry LOCAL CONTENT PRODUCTIONS SUCCESSFUL

More information

This is a licensed product of Ken Research and should not be copied

This is a licensed product of Ken Research and should not be copied 1 TABLE OF CONTENTS 1. Asia-Pacific Insurance Industry 1.1. Industry Introduction 1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P 1.3. Asia-Pacific Insurance Market Segmentation

More information

Invesco s guide to your tax statement

Invesco s guide to your tax statement Invesco s guide to your tax statement June 2016 This guide has been prepared by Invesco to assist you in completing your income tax return for the year ended 30 June 2016. This guide relates only to your

More information

NEWS FROM NATIONALBANKEN

NEWS FROM NATIONALBANKEN 1ST QUARTER 2016 NO. 1 NEWS FROM NATIONALBANKEN PROSPERITY IN DENMARK IS KEEPING UP Since the crisis in 2008, the Danish economy has generated an increase in prosperity, which is actually slightly higher

More information

Ipsos Global Reputation Centre Point of View. Your Stakeholders and Your Reputation. 2011, Ipsos Public Affairs

Ipsos Global Reputation Centre Point of View. Your Stakeholders and Your Reputation. 2011, Ipsos Public Affairs Ipsos Global Reputation Centre Point of View Your Stakeholders and Your Reputation 2 Ipsos Global Reputation Centre Your Stakeholders and Your Reputation Measuring Stakeholders Why is measuring stakeholders

More information

SINGAPORE BUSINESS FORMATION STATISTICS REPORT

SINGAPORE BUSINESS FORMATION STATISTICS REPORT Q1 # SINGAPORE BUSINESS FORMATION STATISTICS REPORT JANUARY - MARCH 2014 JANUS CORPORATE SOLUTIONS PTE LTD 16 Raffles Quay, Suite 33-03, Singapore 048581 +65 6222 7445 www.guidemesingapore.com Singapore

More information

2. Incidence, prevalence and duration of breastfeeding

2. Incidence, prevalence and duration of breastfeeding 2. Incidence, prevalence and duration of breastfeeding Key Findings Mothers in the UK are breastfeeding their babies for longer with one in three mothers still breastfeeding at six months in 2010 compared

More information

Research & Corporate Development DERIVATIVES MARKET TRANSACTION SURVEY 2009/10

Research & Corporate Development DERIVATIVES MARKET TRANSACTION SURVEY 2009/10 Research & Corporate Development DERIVATIVES MARKET TRANSACTION SURVEY 2009/10 November 2010 CONTENTS Page 1. Introduction...1 2. Key findings... 3 3. Figures and tables... 7 3.1 Distribution of trading

More information

REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING. Second half

REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING. Second half + REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING 2016 2013 Q1 REVIEW OF THE SURVEY OF ENTERPRISES ON BUSINESS FINANCING Second half ISSN 2424-4791 (ONLINE) REVIEW OF THE SURVEY OF ENTERPRISES

More information

2012 Software and SaaS Benchmarking Industry Report

2012 Software and SaaS Benchmarking Industry Report 2012 Software and SaaS Benchmarking Industry Report OPEXEngine www.opexengine.com 15 Hancock Road Weston, MA 02493 (617) 674-4218 Copyright 2012 All rights reserved. No part of this report may be reproduced

More information

Convenience Retail Asia Interim Profit impacted by rising costs and investment expenses despite growth in turnover

Convenience Retail Asia Interim Profit impacted by rising costs and investment expenses despite growth in turnover For immediate release Convenience Retail Asia Interim Profit impacted by rising costs and investment expenses despite growth in turnover Turnover and comparable store sales up despite difficult retail

More information

The Wine and Spirits Market in Asia-Pacific and Worldwide with Prospects Until 2017

The Wine and Spirits Market in Asia-Pacific and Worldwide with Prospects Until 2017 The Wine and Spirits Market in Asia-Pacific and Worldwide with Prospects Until 2017 From the VINEXPO* market study For the 12 th consecutive year, VINEXPO the international wine and spirits exhibition

More information

Delta Economics Trade View Rebecca Harding

Delta Economics Trade View Rebecca Harding Counter-Intuitive or Perfectly Timed? 10th February 2014 Why Australia s reliance on commodity trade with China is not what the market thinks Since October 2013, the value of the Australian dollar has

More information

Analysis of Survey Results

Analysis of Survey Results Analysis of Survey Results 调 查 结 果 分 析 The American Chamber of Commerce in Shanghai 上 海 美 国 商 会 -2011 China business report Analysis of survey results Survey Overview This year s survey was conducted online

More information

ASIA PACIFIC BUSINESS TRAVELLER RESEARCH 2011

ASIA PACIFIC BUSINESS TRAVELLER RESEARCH 2011 ASIA PACIFIC BUSINESS TRAVELLER RESEARCH 2011 1 Asia Pacific Business Traveller Research 2011 FOREWORD Evan Lewis Vice President Communications - Asia Pacific Accor Asia Pacific In keeping with its position

More information

Broadband Internet: Removing the Speed Limit for Canadian Firms

Broadband Internet: Removing the Speed Limit for Canadian Firms Catalogue no. 11-621-MIE No. 016 ISSN: 1707-0503 ISBN: 0-662-38099-1 Analytical Paper Analysis in Brief Broadband Internet: Removing the Speed Limit for Canadian Firms by Mark Uhrbach and Bryan van Tol

More information

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors

Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Global Student Mobility 2025 Forecasts of the Global Demand for Pathways to Higher Education in the Schools, VET and ELICOS sectors Andrew Hewett IDP Education Australia Agenda and Key Issues Pathways

More information

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific

The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific The Impact of The European Crisis on Travel To and From Europe and China & Asia-Pacific A Report by Research For Travel Ltd July 2012 Research For Travel Ltd The Impact of The European Crisis on Travel

More information

Tourism New Zealand Commerce Committee Annual Review

Tourism New Zealand Commerce Committee Annual Review Tourism New Zealand Commerce Committee Annual Review 2013/14 ADDITIONAL QUESTIONS (128-134) Tourism New Zealand Commerce Committee Annual Review - 2013/14 Additional Questions: 128-134 128. The Committee

More information

Asia-Pacific Application Performance Management Market CY 2013 Rapidly Changing Application Architecture and Business Environment Drives the Market

Asia-Pacific Application Performance Management Market CY 2013 Rapidly Changing Application Architecture and Business Environment Drives the Market Asia-Pacific Application Performance Management Market CY 2013 Rapidly Changing Application Architecture and Business Environment Drives the Market October 2014 Contents Section Slide Number Executive

More information