3 in 4 SMEs expect sales growth in 2023

Business optimism has prompted 58% of SMEs to increase their headcount.

Three out of four small businesses in Hong Kong (74%) are expecting growth in their sales this year, data from CPA Australia's Asia-Pacific Small Business Survey showed.

CPA Australia said border reopening and improved economy boosted businesses' confidence. Six in 10 businesses expect economic growth in 2023.

“This optimistic sentiment can be partly attributed to the recovery from the low base of the past three years,” added Cliff Ip, Deputy Divisional President of CPA Australia – Greater China.

In 2022, more than half (56%) of small businesses grew.

"Bolstered by government relief measures, small businesses in Hong Kong overcame a particularly challenging period and recovered quickly in the second half of 2022," Ip said.

Meanwhile, Business optimism has prompted more than half (58%) of small businesses to increase their headcount this year and pushed 89% to innovate in the next 12 months.

Follow the link for more news on

CPA Australia

Also Read

2024 Policy Address: Hong Kong cuts tax on liquor priced above $200 to 10% to boost trade

HK leads in business confidence index in GBA

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit