The pandemic posed unprecedented challenges for businesses across the world, including APAC. In response, many enterprises, especially the small-and-medium-sized businesses (SMBs), harnessed digital to continue to both survive and thrive. Many of these SMBs swiftly pivoted from their traditional brick-and-mortar operations to online, which had a positive impact. A recent PayPal study* with SMBs across Hong Kong, India, Japan, and Singapore, reports that SMBs have in fact emerged from this pandemic with a positive story to tell. This trend is expected to continue in 2022 in APAC which is one of the leading regions for eCommerce growth. SMBs make up a majority of enterprises and are the cornerstone for the region’s economy1. The PayPal study offers some interesting insights into how the SMBs in APAC showed resilience in the face of disruptions and strengthened their online proposition.
— SMBs report a positive experience during the pandemic
— Greater reliance on digital payment
— Cross-border trade a key priority for SMBs
— SMBs to continue to invest in building and enhancing their digital capabilities
— Social media emerged as the leading gateway for growth
Click HERE for the SMB report of Singapore
Click HERE for the SMB report of Hong Kong
Click HERE for the SMB report of India
* PayPal commissioned APAC SMB Surveys 2021. N=980. Online survey of business decision makers of Hong Kong, India, Japan and Singapore SMBs (which are currently engaged in online selling) between September to October 2021.
1 The Foundation for Economies Worldwide Is Small Business | IFAC