3 global growth trends for Hong Kong businesses

In an era where technology has made the world feel smaller than ever, small and midsize companies in the Asia-Pacific region have an unprecedented opportunity for growth. Businesses in Hong Kong and beyond are not just participating in the global market—they're poised to lead it.

A new report produced by Forbes in association with FedEx uncovers three growth trends that are shaping the future of e-commerce for small and midsize companies in the region.

Optimism fuels global expansion

Firstly, a sense of optimism is fuelling ambitions for global expansion among these businesses. With 87% of surveyed business leaders planning to extend their customer base and 80% looking to expand their supplier network, it's clear that small and medium businesses are no longer content with playing in local sandboxes. This drive is largely attributed to improved economic conditions, signalling an environment ready for businesses willing to venture beyond familiar territories.

However, global expansion is not just about ambition; it's about capability. The report highlights that real-time, data-driven logistics and supply chain engagements are deemed critical for success, pointing to a world where physical and technological connectivity enables even the smallest of businesses to achieve global reach.

Read the full report to see the regions where business leaders in Southeast Asia see the greatest growth potential over the next 12 months.

The challenge of cross-border complexity

Yet, with great opportunity comes great challenges. The second trend the report identifies is the complexity of cross-border commerce. Working through tariff schedules, tax entities and customs clearance can be daunting, particularly for smaller businesses that lack the legal and financial advisory teams of their larger counterparts.

Additionally, the push for sustainability adds another layer of complexity, demanding a more conscientious approach to business operations and supply chain management.

Download the full report to learn the biggest barriers to cross-border bureaucracy.

The power of technology partnerships

This leads us to the third and perhaps most exciting trend: the role of technology partnerships in scaling cross-border business. The digital world offers small and medium businesses a chance to enhance their e-commerce capabilities and integrate advanced technologies such as AI, despite having limited IT budgets.

Strategic partnerships, particularly with global logistics specialists, can offer access to cutting-edge technology, efficient delivery solutions and sustainable practices without exceeding operational and technology budgets.

Download the full report to see how technology is helping small companies punch above their weight.

Get ready to expand your global reach

The future is bright for small and midsize companies in the Asia-Pacific region. However, to fully seize the opportunities that lie ahead, businesses must embrace the trends shaping the global market. This means leveraging optimism for expansion, working through cross-border complexity with smart partnerships and using technology to their advantage.

The complete report by Forbes and FedEx, 3 Global Growth Trends Worth Watching for Small and Midsize Companies in the Asia-Pacific, offers insightful analysis and actionable advice for businesses aiming to thrive in the global marketplace. Download the full report now and discover how your business can navigate the complexities of global expansion and achieve sustainable growth in the dynamic Asia-Pacific market.

Discover more tools and tips to grow your small business internationally on the FedEx Small Business Center.