South-East Asian SMEs are missing out on the digital revolution. Here’s how to get them on board
January 18th, 2022 – Major economies in South-East Asia have been hit hard by the pandemic and are still navigating the path to recovery amid renewed outbreaks, new virus variants and an uneven vaccine roll-out. Yet as devastating as lockdown restrictions have been, they are also proving a positive driving force for millions of consumers to adapt to new ways of spending and embracing digital commerce, permanently changing consumer behaviour.
According to research conducted by Bain & Company and Facebook, eight in 10 consumers in South-East Asia are now digital. To put that number into perspective, the number of new digital consumers added in just one year in the Philippines, Singapore, Malaysia, Indonesia, Thailand and Vietnam is equivalent to the population of the entire UK.
More…https://www.weforum.org/agenda/2022/01/south-east-asia-sme-digitization-financial-services/
Written by World Economic Forum
Photo: Asian Development Blog
Related Post
Equipping SMEs with the skills to...
SMEs and entrepreneurs heavily depend on skills to stay competitive and face greater challenges than larger firms in accessing and retaining...
The future of entrepreneurship with AI
AI-native startups are redefining the nature of entrepreneurship through accelerated scaling. With leaner teams, evolving funding dynamics, ...
Micro and small businesses can act...
In an international context where conflicts have reached their highest level since the Second World War, what role can micro, small, and med...
