Women-led SMEs and start-ups compete for top prize in growth-focused challenge
Entries are open for Standard Chartered’s SC Women’s International Network Now and Next Challenge, with up to HK$1 million worth of funding and training for finalists
Rising through the ranks of her family’s freight-forwarding business, Janet Ng, chief operating officer, Trimanson Express, has had to deal with preconceptions of being a woman in a male-dominated sector and push through comfort zones to get to where she is today.
Trimanson is a Hong Kong business in the small and medium-sized enterprise (SME) bracket. It was acquired by Ng’s father in 1986 and specialises in air and marine cargo services. After graduating from university, Ng joined the company in 2010 to learn the operations of the business from the bottom up, undertaking basic tasks such as typing up air waybills and calling airlines to book freight space.
Ng was also introduced to the customer service side of the business, where she gained an understanding of the essential role it plays in developing successful long-term partnerships. “Because I’m in the family business, I have been able to connect and communicate with many airlines and overseas partners much earlier in my career than some people,” she says. “The minus is, no matter how hard I work, I still have to prove myself because I’m second generation.”
Rather than letting this demoralise her, Ng plays up to her strengths as a problem-solver, which has helped her gain exposure within the industry and, under her leadership, expand Trimanson’s operations into the African market. “We’ve seen major growth in the last seven to eight years because we are ahead when it comes to serving the African market, giving us an edge in the industry,” she says. “We felt that though it’s hard to tap into Africa, at least we don’t have to fight in a very competitive market like Europe or America. Now, we’re seeing more freighters flying to Africa, and we are growing together.”
Ng, who was a winner of the GBA Outstanding Women Entrepreneur Award in Family Business in 2020, says there can be days when she feels underestimated within her sector. “Some people have this idea that women don’t understand the operations of the business,” she says, adding she has had to navigate her way confidently in rooms full of men. “This business involves a lot of relationship-building, with many meetings and social gatherings that require a lot of energy. And as the only woman in the group, I have to know how to negotiate with them.”
Ng’s focus on connecting with colleagues and business associates has helped her earn respect in the industry, and to excel in her role. “The connections I have made in the last 15 years – they are now vice-presidents of airlines, or the CEOs or COOs of companies, which has helped me a lot,” she says, adding that they have at times advocated for her and supported her in business meetings, becoming allies.
One important factor that has helped her family’s business expand over the years is finding the right partners. Trimanson has banked with Standard Chartered since 2014, with the bank granting services including a mortgage loan, trade facility and bank guarantee to help support the business.
“Having good financial support, management, an edge – these areas are very important, and luckily we have these things through early planning. If we didn’t, things would be very hard for us,” Ng says.
With an increasingly challenging business environment, support for female executives of SMEs and entrepreneurs is crucial. According to research by networking community Women of Hong Kong, female entrepreneurs can face limited access to funding channels. To help strengthen the financial capabilities and develop the business skills of women, Standard Chartered, together with crowdfunding platform Lift Women, launched the SC Women’s International Network Now and Next Challenge, offering practical and financial support for female entrepreneurs poised for growth and expansion.
The challenge shortlists 20 women-led businesses and female entrepreneurs, from which 10 will be selected to join the eight-week LiftHer Global Accelerator Programme, which will help them further refine their business strategies. The finalists will then compete in a pitching challenge in August, and five winners will be awarded funding, as well as marketing and branding support to raise their profile.
Mary Huen, CEO, Hong Kong, Greater China and North Asia, Standard Chartered, says the bank can help smaller companies by collaborating with industry associations that enable SMEs to transform their businesses through digitalisation and cross-border expansion: “The addition will bring more benefits to SMEs by providing them with better exposure and tools to strengthen their brand competitiveness and business skills to capture growth opportunities that will inject new impetus in Hong Kong’s economic development.”
The SC Women’s International Network Now and Next Challenge, launched in 2023, falls under Standard Chartered’s Women’s International Network, which was established to support women-led SMEs by providing access to funding and expertise, as well as a network of like-minded entrepreneurs. The initiative has pledged to provide US$1 billion in funding globally to women-led businesses by 2028.
As a key part of the support provided, finalists will have the opportunity to join the SC Women’s International Network community, exposing them to more business connections and opportunities for collaboration. “Our ambition extends beyond empowering women entrepreneurs,” says Xie Wen, global head of SME banking, Standard Chartered. “We not only want to support the growth of women entrepreneurs, but also build a genuinely inclusive business ecosystem that promotes cross-gender, cross-industry cooperation and resource sharing.”
Informed by the challenges she has faced during her own journey as a female leader of an SME, Ng sees the value for female professionals of turning to communities. “To create a more inclusive, dynamic and gender-balanced economy, it takes all of us to share experiences, uplift one another and create opportunities for others,” she says. “Lean into the communities – we all hold the power to shape a brighter future where everyone can thrive.”