New awards signal SMEs' role in keeping Hong Kong competitive
Almost half of local private employers are small firms - with 1.3 million workers - and 79 per cent of them trade across borders
Entrepreneurs are the life blood of Hong Kong's economy and their contribution to keeping the city globally competitive must be properly recognised, according to the sponsor of a major new awards programme organised by the South China Morning Post.
"These awards will help to promote best practices in relation to sustainable growth and international expansion, whilst also inspiring the next generation of up and coming business people in Hong Kong," said Ken Lee, managing director Hong Kong and Macau and Asia Pacific head of commercial at DHL Express.
Speaking in an interview before an awards ceremony taking place later today, Lee told the Post that the small and medium-sized enterprises (SMEs) run by the city's legion of entrepreneurs gave Hong Kong a distinctive profile internationally - and a competitive advantage globally.
"According to a study conducted by IHS and DHL Express released in 2013, SMEs engaged in international markets are twice as likely to be successful as those only operating domestically," Lee said.
"The winners of the awards demonstrate how they distinctly differentiated themselves from competition by clear visions to grow in this dynamic and diversified market environment."
A 2013 survey commissioned by DHL found that 79 per cent of Hong Kong SMEs are trading across borders. Mainland China, the US, Taiwan, and Japan are all key markets for small businesses in the city.