Small businesses are using the Internet to rewire Asia’s economies

  • As Asia’s economic boom continues, the world has grown familiar with icons of its transformation: skyscrapers, factories, and luxury shopping districts. But in countries across the region, small and medium enterprises are fast proving themselves the real engines of growth.

  • More businesses in Asian economies are small businesses than in Western economies, and they’re driving change faster than many of the big companies you read about.

  • And increasingly, they’re driving this change with the help of the Internet.

    • Singapore has a greater percentage of SMBs advertising with Google than the UK or US.

    • SMB spend in our top ten fastest growing SMB markets is growing at a higher rate than the US.

    • The number of SMB advertisers in India, the Philippines, Vietnam, Hong Kong, Australia, New Zealand, Indonesia, Singapore, Japan, Taiwan, and Thailand is growing faster than the US or Great Britain.

The ‘industrious revolution’ – small is the new big

  • Asian business had been defined by conglomerates, chaebols and keiretsu. And for the past ten years, the Internet in Asia has been defined by big national and regional companies.

  • The industrial revolution rewarded large companies because they were able to reach markets around the world. The bigger your company, the lower your average costs. Large companies could fund campaigns to access foreign markets. Large companies made it easy for rising Asian economies to direct industrial policy.

  • The Internet has changed this equation. It’s helping to kick off an ‘industrious revolution’, where hard work and great ideas matter more than size. Resourcefulness matters more than size. And growth will help fund your business as much as size.

Going global and growing local

  • It has never been a better time to be an SMB. A small business starting up today in Asia has more opportunities to grow and prosper than their counterparts in even the most industrialized Western nation would have had just ten short years ago.

  • The web is what’s making this happen. It’s increasing the scope of what a small businesses can do, right from the start. Consider that:

    • A small business can now advertise not just to the people in the immediate area, but to everyone with an Internet connection – 2.5 billion people.

    • They can buy text ads, video ads, mobile ads that reach those millions of people for less than the most basic offline marketing campaign would have cost 10 years ago.

    • And it can measure if it works or doesn’t.

The web will help small business – and Asia – think big

  • This power needs to be accessible to every small business, because every business can use it to make their ambitions larger. That’s why it’s such a good investment for a nation.

  • Internet innovation isn’t just gadgets, startups and apps, it’s any innovation that survives and thrives thanks to the Internet.

  • This power needs to be accessible to every small business.