5 min read
The world is evolving faster than ever. Businesses must constantly reinvent themselves amid changing trends and priorities. As we enter a new decade, advances in technology are disrupting old business models and giving rise to the new economy. Micro, Small and Medium Enterprises (MSMEs) are moving to the forefront. They now account for more than 90% of establishments in the ASEAN region and contribute 30-53% of GDP among member countries.
To better understand the needs of Southeast Asia’s MSMEs, research conducted by Bloomberg Media Group in partnership with GrabFinance unearthed the views and aspirations of 600 respondents from MSMEs in Singapore, Malaysia, Thailand and the Philippines. The survey-based study, titled SMEs in a New Decade, New Economy, sought to uncover the trends, business needs and priorities of the region’s entrepreneurs as they enter an exciting new era.
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1 out of 2 SME respondents in this survey is a Bloomberg frequent audience. Bloomberg audiences are split 50-50 between micro-to-small-sized and medium-sized companies and are more likely to be “success seekers”, while non-audiences are more likely to be solo entrepreneurs and seek career stability.
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