small and medium-sized enterprises

Small and medium-sized enterprises (SMEs) are a vital part of Hong Kong's economy, often operating with tighter margins than larger corporations. Currently, these businesses are facing significant financial pressure due to soaring energy costs. Fuel surcharges from power suppliers have seen substantial increases, prompting calls from industry leaders and lawmakers for government subsidies to alleviate the burden. This situation is particularly acute amid global geopolitical events impacting energy prices. Simultaneously, SMEs are poised to benefit from new initiatives aimed at enhancing the workforce's digital capabilities. A HK$50 million "AI for All" program, a collaboration between the government and major tech firms, will offer artificial intelligence training to employees. This dual focus highlights the current challenges and opportunities for SMEs, emphasizing their vulnerability to economic shocks while also acknowledging efforts to equip them for future technological advancements and competitiveness.