A picture of challenge and change
Businesses like yours are living through the biggest global crisis in a generation. To understand how it’s affecting them, including their plans for the future, we surveyed more than 2,600 companies across 14 markets as part of our annual Navigator research.
HSBC Navigator: Building Back Better report paints a picture of challenge and change. While 98% of the businesses have felt the impacts of the crisis, 65% have been agile and able enough to be resilient. And many see the crisis as a catalyst for change and long-term growth.
The insights in the Resilience report will help you grasp those opportunities while overcoming the challenges. They are also good references for you to better plan your next steps.Download the global report
Insights from Hong Kong Businesses
The global report compiled 200 Hong Kong Businesses’ view of future opportunities and challenges for growth. Diversification, greater digitisation and more transparency into their supply chain are the top priorities for their business resilience. Here are the key insights from them:
- 98% of the businesses was impacted by COVID-19
- 95% of the Hong Kong companies were prepared for the challenges over the past 6 months (compared to 92% in other markets)
- A significant majority (87%) see the crisis as an opportunity to rebuild their business on firmer environmental foundations
- 67% of them feel that ‘sustainability’ is as important as or has become more important than ever before
- 80% of businesses managed to feel closer to their employees, customers and supply chain partners despite the physical distancing measures in place
- 63% of the businesses would increase measures to bolster the security and stability of their supply chain in the next 1-2 years
- Over the past 2 years, the most common ways of building resilience are diversifying businesses (59%), investing in technology or innovation (54%), and consolidating financial position (38%)
- In the next 5 years, 57% of the businesses will invest in technology and innovation to prepare for uncertainties