Connie Talk | Michael Lai: Flexibility and trust contribute to success of SMEs in HK

When we come to the word "enterprise", we tend to think of huge business conglomerates, rumbling factories, and big amount of employees. However, in reality, small and medium-sized enterprises (SMEs) are the real foundation of Hong Kong's social structure. They are small but dynamic, and although they are not as resilient as large corporations, their flexibility earns them a place in the arena called society.

In this episode, we invited Mr. Michael Lai, President of the Hong Kong General Chamber of Small and Medium Business, to talk about the changes in the current economic situation and the prospects for the development of SMEs in Hong Kong.

According to Mr. Lai, the term "SMEs" refers to manufacturing enterprises with less than 100 employees and non-manufacturing enterprises with less than 50 employees. In his opinion, the most essential quality for SMEs is "flexibility." The most important thing they need is "trust". "but I think the most important for the HK government and me is to maintain a free port... it's more serious, the crisis of confidence." Meanwhile, Mr. Lai mentioned the problem of labor shortage. He hoped that the government would make reasonable use of the advantages of the Greater Bay Area to bring in high-quality talents to supplement the manpower.

Mr. Lai also noted that the popular ESG concept can also be applied to SMEs. With the help of sustainable development and green office concepts, enterprises can reduce costs and increase profits.

In the end, Mr. Lai spoke with respect about Hong Kong and its people. In his opinion, it is the lack of resources and the desire for a better life that has brought up the hardworking and flexible people of Hong Kong.

“Hong Kong is our place. It’s where we were born. It's our home so we need to work together and have a better tomorrow.”