HK SMEs are finding more strategies for survival

Many Hongkongers have invested a lot in Shenzhen to open a factory, which belongs to SMEs.
Those entrepreneurs made great efforts in running business and managing the whole manufacture operation.

They have to watch closely about the mainland policies for factories and tax policies as well because such policies will change according to the market demand.

In addition, they now are facing more challenges when the business is closely related to RMB appreciation, wage increases, rising material and utility costs, as well as higher administrative and compliance costs.

SMEs are trying to develop new products, services and develop overseas market to get more orders.

The SME entrepreneurs should make sure that there is a niche market there for the new product or service and analyze the market thoroughly about whether it has or can obtain suitable resources to enter the market. The assessment of profit that new products and services can bring should go ahead before the new meditation of rolling out new or upgraded products or services.

In order to get more overseas orders, SME may attend trade fairs, such as Canton Fair, which has been divided into two phases in Guangzhou, China, the first phase running from April 15 to 19 and the second phase running April 23 to 27.

SMEs can also find some valuable business information on B2B platforms, such as IBUonline, a foreign trade service provider.