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More attention to economic statistic to keep abreast of the business pulse

26 September 2012 14:13

When developing business, SMEs need to analyze large amounts of information in order to make proper market deployment. In this information era where messages are excessive and confused, how should SMEs collect and make use of information to enhance its competitiveness? There are indeed many public and private organizations that publish economic statistics that related closely to SMEs. If SMEs can make good use of them, they can always be strategized and support the continuing development of their businesses.

In July this year, the Hong Kong Productivity Council (HKPC) launched Hong Kong’s first professional survey of forward-looking business index for SMEs, with an aim to assist the public and SMEs to get an insight into the forthcoming business climate and thus make better forward planning. The survey was conducted by HKPC independently, and has a high neutrality and credibility. The index will be released every quarter in January, April, July and October each year, and is computed from the analysis of local SMEs’ view on the outlook of the overall business environment for the next quarter such as headcount, overall investment, sales, global economic change, etc. through telephone interviews done by HKPC’s professionals.

To better reflect the true picture of the local business condition and enhance the significance of the index, the size and scope of the survey is the most extensive of its kind in Hong Kong, covering eight industries including manufacturing, import/export trade and wholesale, retail, accommodation and catering services, information and communications, finance and insurance, professional services, and real estate industry.

SMEs are encouraged to utilize similar market intelligence, so that more comprehensive short and long term business plans can be made.

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