According to CPA Australia’s Asia-Pacific Small Business Survey, Malaysia’s small business sector is experiencing growth with an increase in employment and technology investment. These findings come from surveying “nearly 3,000 small business operators in Malaysia, Vietnam, Indonesia, Hong Kong, Singapore, Australia, New Zealand and China.”
While 2016 saw stronger business growth versus 2017, the sentiment around 2018 seems to be a high potential for increasing revenue and operational investment. Paul Drum, CPA Australia head of policy stated that “More than a quarter (27.5%) of Malaysia’s small businesses added staff in 2017, reflecting strong growth for many Malaysian small businesses. A healthy 40.1% are expecting to add additional staff members in 2018. Small businesses from Malaysia continue to be strong users of digital technologies in their business. Over half of Malaysian businesses surveyed (53.4%) earned over 10% of their income from online sales, and over 80% use social media for business purposes,”
With such positive outlooks, there is now a push for more Malaysian companies to accept payment online which means potential added revenue from the likes of Google or Apple for their payment solutions.
The global trend of positive business growth seems to be continuing in Southeast Asia with currently no sign of slowing down.