Which Industries of Hong Kong contain the most SMEs in 2024?

However, the government of Hong Kong divides all SMEs which have been registered there into two different categories. One of these categories is that of manufacturing companies, while the other is that of non-manufacturing companies. Hence, to be defined as a Hong Kong-based SME, a manufacturing company must not have employed 100 or more employees. Non-manufacturing companies are not to have employed 50 or more employees if they are to be defined as SMEs.

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Support for SMEs

Moreover, the Hong Kong TID has launched initiatives to support SME development across all industries. As a result among these initiatives are the administration of funding schemes, the provision of secretarial support to the Small and Medium Enterprises Committee, the provision of business information to SMEs for their benefit, and participation in activities initiated by the Asia-Pacific Economic Cooperation (APEC) which are intended to be advantageous to the business fortunes of SMEs. In this way, the Hong Kong government through the TID ensures that SMEs all over Hong Kong are likely to prosper.

Breakdown of SMEs by industry

The number of SMEs that conduct business operations in Hong Kong is increasing. The most recent set of statistics shows that there are approximately 340,000 Hong Kong-based SMEs today. SMEs make up over 98% of all businesses in Hong Kong today.