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Be Resilient: Your Strategy for Business Growth | ASEAN SME Transformation Study 2022
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Be Resilient: Your Strategy for Business Growth | ASEAN SME Transformation Study 2022
For SMEs in ASEAN, 2021 was a year of mixed fortunes, with COVID-19 recovery efforts advancing at different rates across the region. Whilst businesses looked expectantly towards 2022 as a year of renewal, markets were plunged into fresh upheaval with the recent Ukraine conflict. Regional SMEs now find themselves facing significant geopolitical uncertainty, elevated inflation and ongoing supply chain and workforce disruptions.
As these pressures converge, businesses across the region need to constantly adapt to remain competitive. To help ASEAN SMEs gain insight into the strategies taken by their peers, UOB, Accenture and Dun & Bradstreet (D&B) have collaborated on the ASEAN SME Transformation Study. Concluded at Q1 2022, our online survey captured insights from 1,500 SMEs in five key ASEAN markets: Singapore, Indonesia, Malaysia, Thailand and Vietnam.
Here is a glimpse of the key insights:
The report also outlines strategies that SMEs can adopt for business growth, along with the latest outlook for ASEAN region.
The information contained in this publication is based on certain assumptions and analysis of publicly available information and reflects prevailing conditions as of the date of the publication. Any opinions, projections and other forward-looking statements regarding future events or performance of, including but not limited to, countries, markets or companies are not necessarily indicative of, and may differ from actual events or results.
The views expressed within this publication are solely those of the author’s and are independent of the actual trading positions of United Overseas Bank Limited, its subsidiaries, affiliates, directors, officers and employees (“UOB Group”). Views expressed reflect the author’s judgment as at the date of this publication and are subject to change.
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UOB Group may have also issued other reports, publications or documents expressing views which are different from those stated in this publication. Although every reasonable care has been taken to ensure the accuracy, completeness and objectivity of the information contained in this publication, UOB Group makes no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability relating to any losses or damages howsoever suffered by any person arising from any reliance on the views expressed or information in this publication.
This publication has not been reviewed by the Monetary Authority of Singapore.
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