Small and Medium-sized Enterprises (SMEs) are a critical component of Hong Kong’s economic landscape, characterised by their relatively small workforce compared to larger corporations. In Hong Kong, the distinction between SMEs and larger enterprises is determined by the number of employees, with manufacturing enterprises employing fewer than 100 individuals and non-manufacturing enterprises employing fewer than 50 persons falling into the SME category.
Statistics and Economic Impact
As of March 2021, Hong Kong boasted an impressive ecosystem of over 340,000 SMEs, accounting for more than 98% of all enterprises in the region. These dynamic businesses played a pivotal role in the economy by providing employment opportunities for over 1.2 million individuals, constituting approximately 45% of total employment (excluding civil service positions).
SME Distribution
SMEs in Hong Kong are distributed across various industries, reflecting the diversity of economic activities in the region. Most SMEs are concentrated in the import/export trade and wholesale sectors, followed closely by professional and business services.
These two industries together represent approximately 46% of all SMEs and contribute significantly to SME employment, accounting for around 44% of the total workforce within the SME sector.
SMEs play a crucial role in the economic development of Hong Kong, contributing substantially to employment and fostering entrepreneurship. Their resilience and adaptability make them vital in sustaining the region’s economic vitality.
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To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
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Small and Medium-sized Enterprises (SMEs) are a critical component of Hong Kong’s economic landscape, characterised by their relatively small workforce compared to larger corporations. In Hong Kong, the distinction between SMEs and larger enterprises is determined by the number of employees, with manufacturing enterprises employing fewer than 100 individuals and non-manufacturing enterprises employing fewer than 50 persons falling into the SME category.