EY Reveals a Massive Growth Opportunity for SME Financing

The more than 340,000 small and medium enterprises (SMEs) make up 98% of the Hong Kong businesses, and employ 45% of the private sector workforce^*. While central to driving economic expansion, this segment is often underserved regarding credit for further development and growth.

This in-depth research report from EY-Parthenon will prove beneficial for SMEs seeking more accessible application opportunities and lenders looking for safer, smoother onboarding processes.

Questions addressed include:

• How are financial institutions positioned to address emerging financing needs of SMEs?
• What constitutes success in future SME financing, and what innovations are needed to achieve it?
• What are the top business challenges SMEs face, and how can responsible lenders help overcome them?
• What strategies can be implemented to increase the quantity and quality of transparent, mutually-beneficial transactions?

As Hong Kong SMEs accelerate their digital transformations, innovative lenders must respond with sophisticated, automated, agile processes to realise increased revenue, cost savings and efficiency gains.

Download the report to learn more.

*Future of SME Financing, EY, 2022