What’s Driving SME Success Across Asia-Pacific—And What Australian Businesses Can Do About It

What’s Driving SME Success Across Asia-Pacific—And What Australian Businesses Can Do About It

Business Strategy
April 24, 2025•3 min read

The latest CPA Australia Asia-Pacific Small Business Survey 2024-25 is a timely wake-up call for many SMEs—especially those in Australia. What can we learn from it? And more importantly, what can we do differently?

 

Survey Snapshot: How SMEs Are Tracking Across the Region

CPA Australia’s Asia–Pacific Small Business Survey 2024–25 offers valuable insights into how small businesses across 11 regional markets are performing. The study gathered responses from over 4,200 small business owners and managers in countries including Australia, New Zealand, India, China, Vietnam, and the Philippines.

The findings? Some encouraging signs—but also some clear warning lights for Australian SMEs.

  • 2024 was the best year since 2019, with nearly two-thirds of SMEs across the region reporting growth.

  • Looking ahead, 71% of businesses expect to grow in 2025, making it the most optimistic outlook in years.

  • However, Australian SMEs are lagging behind:

    • Only 35% reported growth in 2024 (well below the Asia-Pacific average of 64%)

    • Less than half expect to grow in 2025

    • Confidence in our local economy is among the lowest across all countries surveyed

Why the Gap? What Are High-Growth SMEs Doing Differently?

The survey highlights a clear distinction between businesses that are growing and those that are standing still or shrinking.

High-growth SMEs:

  • Embrace technology and AI

  • Use data and digital tools to understand and engage customers

  • Regularly innovate

  • Explore new markets—often internationally

  • Take cybersecurity seriously

  • Seek professional advice and external expertise

In contrast, many Australian businesses are still cautious, slow to adopt new technology, underinvesting in innovation, and navigating without a clear plan.

So, What Can We Do About It? (Your Action Plan)

If you’re an SME owner reading this, don’t be disheartened. The good news is that these high-growth behaviors aren’t out of reach—they’re practical, achievable, and often just need focus and structure.

Herre are seven (7) ways you can respond strategically and bridge the gap:

1. 🎯 Reset Your Strategic Focus

  • Revisit your business goals for the next 12 months.

  • Set realistic, measurable milestones.

  • Don’t just hope for growth—plan for it.

2. 💻 Go Digital (Even in Small Steps)

  • Audit your tech tools—where are the bottlenecks?

  • Look at online sales platforms, payment gateways, automated workflows, reporting dashboards, and use of AI

  • Start with one improvement and progress.

3. 💬 Get Closer to Your Customers

  • Are you actively seeking feedback?

  • Are you visible and engaging online?

  • What would your customers say about their experience with you?

4. 💡 Experiment and Innovate

  • Innovation doesn’t mean reinventing the wheel.

  • Trial new product bundles, packaging, service offerings, or delivery channels.

  • Small, low-cost pilots can bring big insights.

5. 🌏 Think Beyond Local

  • Are there markets—domestic or international—you’re not reaching yet?

  • Could your service be delivered remotely or online?

  • It might be time to explore partnerships or digital exports.

6. 🔐 Don’t Neglect Cybersecurity

  • Enable MFA on everything.

  • Back up your data.

  • If you’re unsure where to start—ask your IT provider or finance team to walk through a basic review.

7. 🤝 Don’t Go It Alone

  • The most successful SMEs ask for help.

  • Tap into your accountant, mentor, or industry groups for support.

  • Book quarterly check-ins to stay accountable and adapt with confidence.

 

Your Next 90 Days: Pick Your Top 3

You don’t have to do everything at once. Choose three actions that feel most urgent or valuable to your business and commit to them.

Revisit this list monthly, track progress, and build momentum.

 

Final Thoughts

This survey doesn’t just give us statistics—it gives us direction. It shows what’s possible and reminds us that growth isn’t just for the bold or lucky. It’s for the prepared, the focused, and the curious.

If you're ready to start thinking like a high-growth SME, even in a small way—you're already on the path.

And if you’d like a second pair of eyes on your business strategy, pricing, or planning—we're happy to help

 

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