Entrepreneurs in Asia-Pacific believe that globalization, social media and big data and advanced analytics are the keys to business success, according to a survey from the Economy Intelligence Unit.
The study, conducted on behalf of FedEx, found that 67% of entrepreneurs believe globalization has a positive impact on their business.
In addition, 58% of respondents from APAC markets including Hong Kong are planning to expand their business internationally, even though 63% say that their current customers are based in their home country.
Meanwhile 45% of entrepreneurs in the region have identified big data and analytics as a key industry tool.
But many entrepreneurs believe that social media will remain the most important technology for their business for the next five years, even though consumers believe social media will become less important over the same period.
“SMEs are one of the growth drivers in Asia Pacific and we are excited to hear that entrepreneurs in this region are receiving the right support and are planning to expand their businesses globally,” FedEx Express Asia Pacific president Karen Reddington said.
“These insights help us understand how we can help SMEs harness the full potential of global trade. Apart from providing the logistics infrastructure required to get access to new markets, FedEx is constantly innovating to give entrepreneurs and SMEs the right tools to gain that competitive edge they need in doing international business.”