Survey: 31% of HK SMEs prioritise marketing and branding for business growth

Over 50% of Hong Kong SMEs are looking for funding and financial support, while one-third of them prioritise marketing and branding for business growth, a DBS Hong Kong survey finds.

The DBS Hong Kong “SME Pulse Check Survey” interviewed over 400 Hong Kong SME representatives under DBS BusinessClass between 15 January to 28 January 2025. It aims to provide local insights into the sentiments and priorities of Hong Kong SMEs, shedding light on their economic outlook, growth expectations and concerns, and their views towards the upcoming 2025/26 Hong Kong Budget announcement on 26 February 2025.

The survey revealed that a substantial number of Hong Kong SMEs (56%) are seeking funding and financing support, along with easier access to business loans in the upcoming budget announcement. Additionally, 32% are hoping to receive government assistance in expanding into new markets, such as Asia and the Middle East, and in business matching and networking. Meanwhile, 28% are looking for support in technology and innovation.

The survey also found that 60% of the respondents expressed that operational costs remain as their top concern, then closely followed by geopolitical uncertainties and economic fluctuations, each at 52%, and access to capital and financing at 33%.

Despite these challenges, more than half of the respondents (52%) anticipates business growth over the next 12 months and 28% expects businesses to remain stable. Top priorities amongst SMEs are ensuring consistent cashflow and managing costs (76%), then followed by market expansion (56%) and marketing and branding (31%). Notably, more Hong Kong SMEs are prioritising the implementation of sustainable practices (23%) in their operations than last year (14%).

Moreover, when asked about their top expectations from a banking partner to support their business, respondents cited simplified and efficient banking platform, dedicated relationship manager support and guidance, followed by access to competitive financing solutions such as loans, credit lines.

When it comes to market expansion, Mainland China (66%) remains the top priority market for Hong Kong SMEs, with the Greater Bay Area (GBA) at 45%. Asian markets (57%) and Europe (22%) are also their considered markets for expansions. Within the Asian markets, Singapore tops the list, followed by Indonesia, Malaysia, and Vietnam. Interestingly, the survey reflects a growing interest in the Middle East market, with 16% of SMEs considering it as a new market for opportunities.

Lareina Wang, executive director and head of SME Banking, DBS Hong Kong, said, “SMEs are the backbone of Hong Kong’s economy, yet many face challenges in managing operational costs, maintaining cash flow, and expanding into Asia. At DBS Hong Kong, we leverage our deep Asian connectivity and digital leadership to empower SMEs with tailored banking solutions, dedicated relationship support, and competitive financing. By driving their resilience, growth, and regional expansion, we continue to fuel economic progress and strengthen Hong Kong’s business ecosystem.”

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