Technology is the gateway to consumer convenience, but it holds an even more important role for businesses. If properly harnessed, it can help businesses achieve greater operational efficiency and grow at their maximum rate of potential.The World Bank says SMEs account for up to 95% of businesses worldwide. Given that statistic, it is easy to say economic advancement strongly depends on the rate of tech adoption by SMEs. However, emerging technologies can appear foreign and daunting to SMEs, especially because of the potentially serious ramifications for smaller businesses if they are not applied properly.If technology has a vital role to play […]
Move over Europe and North America – Asia is the emerging home to much of the new global wealth generated in recent decades, proving that global businesses are becoming much more East-facing.Unlike the West, the wealth found across Asia doesn’t just come from multinational corporations but small to medium-sized enterprises that have seized the future by capitalising on emerging customer trends and technologies.What is striking is that for many of these SMEs, it’s a family affair. To put this in perspective: over the next 25 years, roughly seven out of 10 family businesses are set to make a transfer from […]
Which banking services do small businesses need most over their first five to ten years of growth?“I remember being asked that exact question just after I started my company,” recalls an SME founder and managing director operating across the Asia-Pacific region.“It was my first meeting with my banking relationship manager. He asked which services I thought I might need initially so I turned the question back on him and said: ‘Please will you tell me?’”It quickly became clear to this small business boss that what she needed most from her bank wasn’t a commercial account that she could keep an […]
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