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More SMEs in Hong Kong expect increased sales in 2024
In 2023, 63% of SMEs saw higher sales.
Seven in 10 (70%) small and medium enterprises (SMEs) expect higher sales in 2024, data from QBE Insurance showed.
In 2023, only 47% of SMEs said they were expecting an increase in sales in the coming year.
More SMEs also believe the next 12 months will present better economic conditions (47% in 2023; 70% in 2024).
Whilst having a positive outlook on Hong Kong’s economy, three economic conditions still concern Hong Kong SMEs.
SMEs are most concerned about investor/consumer confidence (63%), followed by increasing operating costs (60%) and decreasing customer demand domestically (55%).
To address these concerns, SMEs plan to properties cost control (73%), followed by customer base and business diversification (50%).
Some (48%) plan to shore up domestic demand and local business opportunities.
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