Photo by Mike Petrucci / Unsplash

SMEs in ASEAN are being left out

Article May 9, 2022

Let's talk about SMEs in Southeast Asia.

Malaysia: SMEs contribute to 38.9% GDP and accounted to 48.4% of employment.

Indonesia: SMEs contribute to 60% GDP and accounted to 97% of employment.

Singapore: SMEs contribute to 48% GDP and accounted to 65% of employment.

Thailand: SMEs contribute to 42.2% of GDP and accounted for 78.5% of employment.

Philippines: SMEs contribute to 36% of GDP and accounted for 63.3% of employment.

SMEs are our backbones of ASEAN economy - but they are not doing well!

50% of SMEs struggle to adjust to the new norms - due to slow digital adoption.

Being able to harness new technologies certainly boost the success of SMEs, but it's not easy to operate.

Many are still doing business using traditional approaches.

That's because 84% of SMEs believe they do not have relevant skills and capabilities to execute.

All the shiny new tech, but employees working in SMEs do not know how to use them.

🧐 How do you optimize your ad conversion by experimenting with targeting, messaging, image, and offer?

🧐 How do you automatically nurture thousands of leads till they are ready to buy with only 1 person?

🧐 How do you {insert your business objective}?

SMEs got to go digital to do all these.

Going digital = becoming data-driven.

Data-driven = data literate workforce

Data literate workforce = ability to work with data, analyze into insights and automate work.

It's NOT about data scientists ☝️

There is an over-emphasis in technology, but lack of emphasis in skills.

So let's plan the skills that you need before your next hiring, training or purchasing new technology.

Only once your people got the skills, they can harness technology to 2x 3x - heck 10x your business!

SMEs can benefit from this, not only large enterprises!

🤖 Data literacy = new computer literacy