Modern Australian
Tuesday, July 29, 2025 9:58:06 PM
Men's Weekly

.

CPA Australia: Almost half of Taiwan’s small businesses tip growth in 2023

TAIPEI, TAIWAN - Media OutReach - 26 April 2023 - Almost half of Taiwanese small businesses expect to grow in 2023. Digitalisation is likely to be the catalyst for their growth, according to CPA Australia's Asia-Pacific Small Business Survey.




CPA Australia surveyed 4,280 small business owners or managers across 11 Asia-Pacific markets, including 313 respondents based in Taiwan. The survey results show many Taiwanese small businesses are adopting a cautious wait-and-see strategy. With only 39 per cent of small businesses expecting the local economy to grow this year, it's prudent that many may be limiting their expansion and investment plans.

The survey results show this careful approach. Forty-eight per cent of businesses expect to grow this year, below the survey average of 66 per cent. Of businesses expecting to access finance in 2023, only 45 per cent said they will do so to fund growth.

Anticipation on revenue from overseas sales slightly improved, with 36 per cent expecting to grow this year.

Four-in-10 Taiwanese small businesses grew last year despite strong headwinds. Usage of e-commerce and digital payment technologies both registered improvements and rose to a record high in Taiwan.

"Taiwanese small businesses have experienced many challenges since 2020," Mr Elic Lam FCPA (Aust.) Honorary Taiwan Adviser at CPA Australia said. "Chief among those was COVID-19. Most small businesses took action in response, including reducing capital expenditure, seeking government support and turning to online sales."

Taiwanese small businesses made steady progress on digital transformation. In 2022, 52 per cent generated more than 10 per cent of their revenue from online sales and through digital payment options such as LINEpay and Apple Pay. Both results are a record high for Taiwan. Fifty-eight per cent plan to introduce new products, services or processes this year.

"Customer behaviour worldwide has changed due to the pandemic. This may turn out to be a major catalyst to drive small businesses' digital transformation, such as selling and communicating with customers online.

"Taiwanese small businesses should further embrace digital transformation as this is a key characteristic of high growth businesses. To do so, they should consider seeking professional advice to identify and invest in the most suitable technologies, outsource IT solutions to trusted vendors, build the technology capabilities of employees or engage in strategic alliances with technology-focused companies.

"The Executive Yuan recently proposed a new plan to raise the overall competitiveness of small and medium-sized enterprises. Small businesses should make full use of the plan's measures to transition their business model into one that is digitalised, innovative and low-carbon.

"From surveying nearly 40,000 small businesses across 11 Asia-Pacific markets since 2009, we have identified the key characteristics of successful small businesses. These high-growth businesses are more sophisticated at adopting technologies and e-commerce, improving customer's satisfaction, innovating, and expanding overseas sales.

"I believe small businesses in Taiwan that possess these characteristics are likely to recover quickly and be well positioned for growth this year."

Over three-fifths of small businesses in Taiwan spent time and resources on ESG practices last year. Many of them focused on staff health and safety, and business diversity and inclusion policies.

"It makes sense that Taiwanese small businesses are prioritising employee health and safety. Small businesses should also make use of government initiatives to establish a low-carbon mindset and identify areas to transform. For example, reviewing their supply chain sustainability and reducing energy and water use to lower long-term operating costs.

"With the reopening of borders, relaxation of travel restrictions and the reshaping of global supply chains, I'm confident that many Taiwanese small businesses will bounce back this year."
Hashtag: #CPAAustralia #SME #Business #Economics

The issuer is solely responsible for the content of this announcement.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 172,000 members in over 100 countries and regions, including more than 22,200 members in Greater China. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

Pontoon Boats - The New Must-Have for Luxe Canal Homes

If you are living on a canal in Australia, you are already living the dream. But living near the water without a boat is like owning a horse without...

Perth Airport Transfers: Choosing the Right Service

Touching down in a new city can be exciting, but let's be honest, it can also be a bit stressful. After a long flight, the last thing you want to wo...

How to Save Smart: Cheapest Travel Insurance for Schengen Visa without Cutting Corners

Picture this: you’ve found a last-minute flight to Milan, your hotel booking comes with breakfast and a rooftop view, and your itinerary is ready ...

Keeping Lone and Remote Workers Safe: Employer Duties and Practical Solutions

In Australia, thousands of employees work alone, in remote locations, or in direct contact with the public every day. While these roles are critical...

How Your General Dentist Supports Your Smile Over a Lifetime

A healthy grin is more than just a desirable feature; it reflects overall health, well-being, and self-esteem. Our oral health needs evolve from chi...

A Brighter Smile in Sydney: Expert Cosmetic Dentists and Veneers Solutions

A confident smile can open doors, boost your self-esteem, and leave a lasting impression. In Sydney, more people than ever are turning to cosmetic den...

How To Keep Vase Flowers Fresh Through Australia’s Coldest Months

Winter flowers develop slowly, which gives them stronger structure and longer vase life Heat from indoor environments is the biggest threat to th...

Artificial Intelligence is Powering the Growth of Australian Telehealth Services

Many Australians have traditionally experienced difficulties in accessing timely and quality healthcare, especially those who live in rural or remot...

VR Training in Australia – Customer Service Risk Management

In today’s rapidly evolving workplaces, Australian organisations are turning to immersive learning tools like VR to handle specialised needs such ...

Powering Shepparton’s Businesses: Expert Commercial Electrical Services You Can Count On

When it comes to running a successful business, having reliable, compliant, and efficient electrical systems is non-negotiable. From small retail ou...

Maximise Efficiency: Cleaner Solar Panels for Optimal Performance

Solar panels are a smart investment in energy efficiency, sustainability, and long-term savings—especially here in Cairns, where the tropical sun ...

7 Common Air Conditioner Issues in Melbourne – And How to Fix Them

Image by freepik Living in Melbourne, we all know how unpredictable the weather can be. One moment it’s cold and windy, the next it’s a scorchin...

Powering Palm QLD with Reliable Electrical Solutions

Image by pvproductions on Freepik When it comes to finding a trustworthy electrician Palm QLD locals can count on, the team at East Coast Sparkies s...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the...

What Your Car Says About You: The Personality Behind the Vehicle

You can tell a lot about someone by the car they drive—or at least, that’s what people think. True Blue Mobile Mechanics reckon the car says a l...

The Confidence Curve: Why Boudoir Photography Is the Empowerment Trend You Didn’t Know You Needed

Boudoir photography has been quietly taking over social feeds, Pinterest boards, and personal milestones—and for good reason. It’s not just abou...

Understanding Level 2 Electricians: Why Sydney Residents Need Licenced Experts for Complex Electrical Work

When it comes to electrical work around the home or business, not all electricians are created equal. In Sydney, particularly when you're dealing wi...

Retirement Anchored in Model Boat Building for Waterford’s Doug Unsold

WATERFORD — When Doug Unsold sees his ship come in, it’s usually one he’s crafted with his own hands. The 67-year-old retiree from Waterford ...