- \n
- Taiwanese small businesses were less impacted by COVID-19 than other
\nAsia-Pacific markets.<\/li>\n - Fifty-six per cent of Taiwan’s small businesses expect to grow in 2021,
\nsurvey finds.<\/li>\n - Small businesses are neglecting opportunities to
\nadopt digital payment technologies.<\/span><\/li>\n<\/ul>\n
\n <\/p>\n\u00a0<\/p>\n
\n <\/p>\nTAIPEI, TAIWAN\u00a0–\u00a0<\/b>Media OutReach<\/a>\u00a0–\u00a031 March 2021 –\u00a0Small businesses in Taiwan remain
\nmoderately resilient in the face of COVID-19-related uncertainties. In a recent
\nsurvey by CPA Australia<\/a>, 46 per cent of small businesses reported growing in
\n2020, while 56 per cent expect to grow in 2021.<\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/137739\/CPA-en.JPG#image-137739\")
<\/p>\n
\n <\/p>\nThe survey canvassed the views of 4,227 small businesses in 11 markets
\nacross the Asia-Pacific region, including Mainland China, Malaysia, Vietnam and
\nAustralia, to understand their business strategies and outlook. Three hundred
\nand three Taiwanese small businesses took part. <\/p>\n
\n <\/p>\n“Taiwan’s small businesses demonstrated resilience and adaptability in
\ntheir operations last year. They are cautiously optimistic about their growth prospects in 2021 due to
\nTaiwan’s effective
\nCOVID-19 response and improvements in the global economy,” said Honorary Taiwan Adviser to CPA
\nAustralia, Mr Elic Lam FCPA. <\/p>\n
\n <\/p>\nAmong surveyed markets, small businesses in Taiwan were the least likely
\nto be negatively impacted by COVID-19. Only 45 per cent of respondents reported
\nthat COVID-19 had a major negative impact on their businesses in 2020, compared
\nto the survey average of 57 per cent. In fact, Taiwanese respondents were the most
\nlikely to report that COVID-19 had a positive influence on their business in
\n2020. <\/p>\n
\n <\/p>\n“COVID-19 positively impacted some industries and adversely affected
\nothers. For example, the social distancing measures enforced around the world
\nled to a surge in demand for IT and electronic products which may have
\nbenefited some of Taiwan’ small businesses,” Lam explained. <\/p>\n
\n <\/p>\nAmong the advanced economies
\nsurveyed (Australia, Hong Kong, New Zealand, Singapore and Taiwan), small
\nbusinesses in Taiwan are the most likely to use social media to communicate
\nwith existing customers and promote their business to potential customers (42
\nper cent). <\/p>\n
\n <\/p>\nHowever, there is room for
\nimprovement when it comes to using new payment technologies. Only 38 per cent
\nreported generating more than 10 per cent of their sales through digital or
\nonline payment technologies in 2020. This is much lower than the survey average
\nof 64 per cent.<\/p>\n
\n <\/p>\n“Over the past three years,
\nthe use of digital payment technologies among small businesses in Taiwan has
\nnot shown any significant growth, and the percentage offering such payment
\noptions to customers is noticeably lower than other Asia-Pacific markets.
\nNevertheless, some local developments point to the possibility of a
\nbreakthrough in digital payment usage this year. <\/p>\n
\n <\/p>\n“COVID-19 has accelerated
\ndigitalisation in the region, with more markets adopting
\ndigital or online payment options. As an export-driven economy, where over one-third
\n(34 per cent) of respondents expect their revenue from overseas sales to grow
\nin 2021, I predict more Taiwanese small businesses will start to or accelerate
\ntheir digitalisation strategy. <\/p>\n
\n <\/p>\n“This will enable them to
\ntake advantage of growing domestic and overseas digital transactions. In
\naddition, the development of the FinTech sector in Taiwan such as virtual banks
\nis likely to lead to the promotion of financial innovation among small
\nbusinesses. <\/p>\n
\n <\/p>\n“Our survey indicates that small businesses that grew strongly in 2020 were
\nmuch more likely to have invested in technology, and there is a strong link
\nbetween innovation and business growth. To maintain their competitiveness,
\nsmall businesses in Taiwan must keep up with the latest technology trends so
\nthey are ready to grasp the opportunities presented by new innovations,” said
\nLam.<\/p>\n
\n <\/p>\nCPA Australia recommends the following key measures for small businesses
\nin Taiwan:<\/p>\n
\n <\/p>\n- \n
- Consult a trusted professional adviser to improve recovery prospects.<\/li>\n
- Implement technologies to help business grow and evaluate its
\neffectiveness in phases.<\/li>\n - Enhance cybersecurity protections and review IT systems regularly.<\/li>\n
- Explore opportunities to expand online and diversify into new markets in
\nthe region.<\/li>\n - Keep abreast of the latest technology developments and changes in
\nconsumer behaviour.<\/li>\n<\/ul>\n
\n <\/p>\n\u00a0<\/p>\n
\n
\nDownload CPA Australia
\nAsia-Pacific Small Business Survey 2020-21<\/a> <\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Taiwanese small businesses were less impacted by COVID-19 than other Asia-Pacific markets. Fifty-six per cent of Taiwan’s small businesses expect to grow in 2021, survey finds. Small businesses are neglecting opportunities to adopt digital payment technologies. \u00a0 TAIPEI, TAIWAN\u00a0–\u00a0Media OutReach\u00a0–\u00a031 March 2021 –\u00a0Small businesses in Taiwan remain moderately resilient in the …<\/p>\n","protected":false},"author":1,"featured_media":13710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13709"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=13709"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/13710"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=13709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=13709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=13709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}