The business outlook for the second half of 2025 is showing signs of recovery, according to Sunny Ip, of the Macau Small and Medium Enterprises Development Alliance.
Speaking yesterday to the press on the sidelines of an event, Ip said that the implementation of mainland China’s visa policies to Macau and other tourism-boosting measures has led to a steady rise in visitor numbers, creating a more favorable business environment.
He forecasted that business conditions will gradually stabilize and may even improve in the coming months.
However, he urged small and medium-sized enterprises (SMEs) to adapt to shifting consumer behavior by identifying new products and cultivating a more attractive business environment to drive sector growth.
“Now the problem is that consumers’ consumption habits have changed. It’s not easy to get money out of their purse to buy things or consume, but the most important thing is to do business in a way that attracts their eyes, attracts their attention, so that they are willing to spend,” said Ip.
He emphasized the need for local retailers to rethink their strategies, suggesting they take cues from mainland Chinese brands and e-commerce platforms, focusing more on product presentation, marketing, and promotional campaigns to capture consumer interest.
A recent report highlights a divided post-pandemic recovery for SMEs, with businesses in tourist hotspots rebounding strongly while those in residential areas suffer revenue declines exceeding 50%.
The findings have spurred proposals to redevelop Taipa Old Village into a commercial zone to support struggling local shops.
A report from the Collective Wisdom Policy Centre (CWPC) recently revealed that SMEs are facing multiple challenges, including rising operating costs, changing tourist spending habits, and increased online marketing expenses.
Through field visits to 700 SMEs in the first quarter of 2025 and analysis of official data, the think tank identified soaring raw material costs, especially in the food and catering sector, as a key pressure point.
Source: https://macaudailytimes.com.mo/sme-leader-projects-stronger-business-climate-in-second-half.html