US slowdown spooks SMEs

A possible economic recession in the United States is creating anxiety among small and medium-sized enterprises (SMEs) in Asia, a survey by UPS showed yesterday.

While 38 percent of the SMEs surveyed on the mainland are worried about the negative impact of an economic slowdown in the US, more than half of SMEs in Hong Kong, Taiwan, Singapore and Indonesia are concerned their businesses will be hampered, the survey found.

US courier UPS yesterday released its Asia Business Monitor 2008, an annual survey conducted on competitiveness of and issues facing SMEs in Asia. UPS surveyed 1,201 decision-makers of SMEs between Dec 18, 2007 and Jan 24, 2008.