Komsan Chiyadis
GrabFood delivery-partner, Thailand
You are reading SMEs in a New Decade, New Economy under Insights
27 FEB 2020•Bloomberg Media Group
SMEs in a New Decade, New Economy
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.
Learn more about this thought-leadership study
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Top 6 Trends in the New Decade that SMEs will or continue to leverage in the next 1 - 3 years:
Adopting advanced technology that improves manual, repetitive business processes (e.g. Cloud computing or AI software)
Technology apps to do business forecasting and analysis
Non-traditional financing (e.g. angel investors, crowdfunding, alternative lending platforms)
Utilizing and expanding e-wallet transaction methods
Using technology-led solutions/apps for supply-chain management, inventory management, payment schedules, cash management and trade financing
Work mobility (e.g. work from home, remote workers)
About Bloomberg SME Audiences:
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.
Demographics of Bloomberg SME audience:
Span from a wide range of industries, more likely to be in manufacturing, IT/software and wholesale distribution
Tech-savvy with half of them foreseeing to be utiliszing AI, cloud computing, mobile apps to do business forecasting and expanding on the usage of e-wallets, etc. in the next few years
Use their own savings and bank loans for their businesses
Have a greater need to look for business loans compared to the average SMEs (78% vs 69%)
More likely to source funding via P2P lending services, crowdfunding and venture capitalists.
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Purchasing inventory and meeting other short-term needs
Why Partner with Us?
When you start a small business, you’ve got big dreams. And GrabFinance is here to help. We’re committed to empowering SMEs across Southeast Asia with funding, tools and insights so they can reach their goals, no matter what they are.
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