Six in 10 SMEs plan to increase digitisation investments by more than 25%: survey

The majority said funding is the biggest challenge to the digital shift.

More than nine in 10 (93%) of SMEs said digitisation is necessary for their growth but three challenges hinders them in doing so, a DBS study revealed.

In the study that polled 105 respondents, funding emerges as the top challenge in digitalisation (57%), followed by limited resources (46%), and relevant technical expertise / skillset (43%).

Despite the challenges, 65% plan to increase their investments in digitalisation by more than 25%, higher than in 2022.

Asked about their top business priorities in the next five years, businesses cited digital marketing (46%), establishing an online presence / e-Commerce / mobile applications (41%), and developing data analysis and management (37%).

The survey was conducted in Hong Kong between March and June 2023 to understand the community's attitudes and priorities towards digital transformation

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

HK scraps MPF Offsetting Scheme to enhance employee protection
Starting 2025, employers are no longer allowed to offset long service and severance payments from its Mandatory Provident Fund contributions.