A survey has found that Australian small businesses don’t measure up to their Asia-Pacific competitors when it comes to innovation, e-commerce and social media.
The Asia-Pacific Small Business Survey, conducted by accounting body CPA Australia, examined nearly 3,000 small business operators in Australia, Indonesia, China, Malaysia, Vietnam, Hong Kong, Singapore and New Zealand.
Looking at a range of measures including business confidence, hiring intentions, innovation and adoption of technology and social media, the survey reveals how each country performs compared to other markets in the region.
According to CPA Australia chief executive, Alex Malley, the survey didn’t reflect too well on the Australian market.
“We’ve found that when it comes to innovation, applied at the coalface of small business, we are being outperformed by a significant margin by our competitors in Asia and New Zealand,” says Malley.
“Yes, there are some very innovative small businesses in Australia, however, they are unfortunately the exception rather than the rule.”
The survey revealed that only five per cent of Australian small businesses intended to introduce a new product, service or process in the next 12 months that is new to their market or this world. This is a small number compared to Indonesia’s 46 per cent, China at 32 per cent, Malaysia 29 per cent and Vietnam 26 per cent.
Australian small businesses were also lagging behind on social media—used by 93 per cent of businesses across Asia, but only about half of Australian small businesses—and e-commerce.
“Across Asia 83 per cent of small businesses generate revenue from online sales, while here, little more than a third do,” explains Malley.
“Looking ahead, more than 40 per cent of Asian small businesses expect to grow their e-commerce presence, while only eight per cent of Australian small businesses have such plans.
“This data provides a baseline for our performance upon which business, governments and researchers should aim to improve.”
By Ruth Cooper
