The Collective Wisdom Policy Centre think tank hosted yesterday a forum to discuss the government’s efforts to integrate social resources and enhance the business environment for local small- and medium-sized enterprises (SMEs), on the sidelines of which Vice Chairman Ngan Iek Hang urged the government to “dynamically” adjust the upcoming round of its “Community Consumption Grand Prize” campaign, while Asia Pacific Association for Gambling Studies Chairman Zeng Zhonglu underlined that while local SMEs are highly motivated to innovate, they are also facing increasing constraints.
The Economic and Technological Development Bureau (DSEDT), in conjunction with the Macau Chamber of Commerce (ACM), has announced that the new round of their consumer promotion campaign will run from March 24 to June 1. Following the same format as the previous two campaigns, discount coupons will be drawn from e-wallets on weekdays for users to redeem and use over the weekends.
Ngan said: “We have received feedback from many residents who hope for greater flexibility in the timing of the coupon draws and redemptions, as different residents have varying consumption schedules. Some individuals work week days, while others work shifts, resulting in different times or patterns for purchasing and using goods or services.”
He suggested that the government examine overall consumption habits to ensure that such consumer promotion campaigns will have a broader reach and greater effectiveness, supporting the sustainable development of small- and medium-sized enterprises while alleviating residents’ financial burden.
Regarding the challenges that SMEs continue to face in their business environment, Ngan emphasised the need for the government to conduct a comprehensive survey: “Although the recovery of the tourism industry has pushed up the number of visitor arrivals to the city, we suggest that the government conduct a comprehensive survey, collect data for different communities and industries, and evaluate the situation in conjunction with new methods such as e-payment, so as to introduce more comprehensive support measures”.
He also urged the government to introduce additional measures, such as interest subsidies and improvements to the existing SME Credit Guarantee Scheme, to alleviate the pressure on SMEs facing insufficient liquidity for loan repayments during their operations.
‘SMEs limited to their local circles’
“Most of Macau’s entrepreneurs are limited to their local circles, and their external networks are not sufficiently strong, leading to many emerging business opportunities going undiscovered,” Zeng said when speaking to the media on the sidelines of the one-day forum, which was held at the headquarters of the Macau General Union of Neighbourhood Associations (commonly known as Kai Fong, its short name in Cantonese).
Highlighting the conditions necessary for innovation and entrepreneurship, he emphasised the need for SMEs to transform their development with the help of supporting industries, such as information technology (IT) and the Internet, to create growth opportunities.
Zeng suggested that the government arrange for local entrepreneurs and young people to intern and work at large advanced high-tech enterprises in the mainland, allowing them to gain experience before returning to Macau to start their own businesses here. He also recommended that the government establish a mechanism for cross-sectoral networking relations.
Collective Wisdom Policy Centre Vice Chairman Ngan Iek Hang (third from right) and Asia Pacific Association for Gambling Studies Chairman Zeng Zhonglu (second from right) address yesterday’s forum on the government’s efforts to integrate social resources and enhance the business environment for local small- and medium-sized enterprises (SMEs), at the Macau General Union of Neighbourhood Associations headquarters in Toi San district. – Photo: Yuki Lei
