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Funding a barrier to SME digitalisation in Hong Kong – DBS
With growing awareness of the importance of digitalisation, SMEs in Hong Kong plan to ramp up their investments towards it – but rising interest rates are making access to funding more difficult, research by DBS has found.
The Hong Kong branch of Singapore-listed DBS bank has published a new survey revealing that over half (57%) of small and medium enterprises (SMEs) in Hong Kong lack the funds to execute further digitalisation. This comes in spite of 93% of respondents acknowledging its importance for business growth.
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