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Hong Kong micro-multinationals among most global-minded in the World
HONG KONG micro-multinationals have had international ambitions from the start, according to a new global research study, commissioned by FedEx Express.
"The success of these small businesses depends on access to international markets, and the logistics industry has a vital role to play," said Hong Kong-Macau FedEx chief Anthony Leung.
"We are helping them connect to the world, not only with fast and reliable logistics, but also by providing deep expertise in trade regulations and supply chain management."
Fifty-four per cent of Hong Kong micro-multinationals describe themselves as "international", far more than the global and regional averages of 40 per cent and 39 per cent respectively.
Meanwhile, 67 per cent of them expanded into other markets within five years or less of being set up, compared to the global and regional averages of 56 per cent and 55 per cent.
In fact, 64 per cent of the city's micro-multinationals had an international presence from inception, a much higher proportion than the 38 per cent of their global and regional counterparts that are "born global".
The FedEx study was conducted by Harris Interactive and it examines a subset of small- to medium-size enterprises (SMEs) that either have a presence in multiple markets from the start, or leverage online business platforms and the increased openness of the global economy.
The study reveals that business is booming for micro-multinationals, with 58 per cent of Hong Kong micro-multinationals currently achieving annual revenue growth, compared to 53 per cent of SMEs as a whole.
Not only do micro-multinationals outperform their peers, they can stand the test of time: 68 per cent have been established for more than 10 years, above the global and regional averages of 55 per cent and 61 per cent respectively.
They are also bullish about their international operating model, with 79 per cent believing it is easier to operate across multiple markets now than it was five years ago.
In Hong Kong, 68 per cent of micro-multinationals point to their logistics service providers as important in helping them run their international business successfully.
In addition, they rank superior logistics systems (43 per cent) among the top three factors that make multi-market operation possible. Other factors they cited include greater export opportunities (46 per cent) and elimination of trade barriers (43 per cent).
"The success of these small businesses depends on access to international markets, and the logistics industry has a vital role to play," said Hong Kong-Macau FedEx chief Anthony Leung.
"We are helping them connect to the world, not only with fast and reliable logistics, but also by providing deep expertise in trade regulations and supply chain management."
Fifty-four per cent of Hong Kong micro-multinationals describe themselves as "international", far more than the global and regional averages of 40 per cent and 39 per cent respectively.
Meanwhile, 67 per cent of them expanded into other markets within five years or less of being set up, compared to the global and regional averages of 56 per cent and 55 per cent.
In fact, 64 per cent of the city's micro-multinationals had an international presence from inception, a much higher proportion than the 38 per cent of their global and regional counterparts that are "born global".
The FedEx study was conducted by Harris Interactive and it examines a subset of small- to medium-size enterprises (SMEs) that either have a presence in multiple markets from the start, or leverage online business platforms and the increased openness of the global economy.
The study reveals that business is booming for micro-multinationals, with 58 per cent of Hong Kong micro-multinationals currently achieving annual revenue growth, compared to 53 per cent of SMEs as a whole.
Not only do micro-multinationals outperform their peers, they can stand the test of time: 68 per cent have been established for more than 10 years, above the global and regional averages of 55 per cent and 61 per cent respectively.
They are also bullish about their international operating model, with 79 per cent believing it is easier to operate across multiple markets now than it was five years ago.
In Hong Kong, 68 per cent of micro-multinationals point to their logistics service providers as important in helping them run their international business successfully.
In addition, they rank superior logistics systems (43 per cent) among the top three factors that make multi-market operation possible. Other factors they cited include greater export opportunities (46 per cent) and elimination of trade barriers (43 per cent).
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