ASEAN has far greater economic potential when viewed as a whole rather than the sum of its parts.
Global economic growth is sliding towards a five-year low and predicting a gloomy backdrop for all but the most nimble of businesses. However Mid-Market Enterprises that have analysed the risks through careful planning will be in a stronger position to successfully grow throughout this period.
As Southeast Asian economies continue to rise, so too is the wealth of the region’s family-owned businesses. Passing on the management of these companies to family members requires careful planning, in order to avoid a myriad of internal and external challenges.
The decision to expand overseas requires equal attention to a new market’s culture and perceptions.
The leader of Singapore’s first scrap metal recycling company with a vertical integration strategy shares his story on 20 years of hard work to transform his family’s business.
Peter Wong, Deputy Chairman and Chief Executive, The Hongkong and Shanghai Banking Corporation Limited
Strategies for entering a new market
SMEs should embrace the attributes that brought them initial success as a distinct advantage and focus on creating a highly attractive value proposition when they enter a new market.
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