DBS Hong Kong SME survey reveals dominant call for government funding ahead of Budget 2026, alongside strategic shift towards growth and digitalisation

Hong Kong, 23 Feb 2026 - Ahead of the forthcoming 2026/27 Hong Kong Budget announcement on 25 February 2026, DBS Bank (Hong Kong) Limited ("DBS Hong Kong") today unveiled the salient findings of its annual SME Pulse Check survey ^[1] . The comprehensive study investigates the sentiment, challenges and priorities of Hong Kong's small and medium-sized enterprises (SMEs). The survey reveals a cautious yet determined pursuit of growth.

Half (50%) of SMEs anticipate a neutral economic outlook for Hong Kong in 2026, while a notable 34% maintain an optimistic stance. This mirror in their strategic planning, with almost 60% projecting business revenue growth in 2026 - a third of which (31%) anticipate growth of 10% or more. 87% of SMEs plan to maintain or increase their budget and investment over the coming year, demonstrating a proactive commitment despite market uncertainties.

Furthermore, the survey also reveals a clear demand for targeted government support, underscoring the vital role of the Budget in shaping the SME sector's outlook. Almost 50% of survey respondents called for government funding and more accessible business loans and financing in the upcoming Budget. This persistent demand for capital support is complemented by a strong desire for assistance in market expansion (42%) and business matching and networking (33%), demonstrating SMEs' outward-looking growth ambitions. Support for technology and innovation was also a key request (28%).

Lareina Wang, Managing Director and Head of SME Banking, DBS Hong Kong, commented, "The Pulse Check survey vividly captures the resilient and dynamic spirit of Hong Kong's SMEs. Despite navigating a complex global economic and geopolitical landscape, these businesses are not merely enduring; they are strategically planning for expansion, particularly within the Greater Bay Area and Asian markets. As the Hong Kong Budget approaches, these findings offer a compelling insight: SMEs, as the essential engine of our economy, are clearly articulating their need for specific, tangible support from both governmental policy and their banking partners to realise their growth ambitions."

As the bedrock of Hong Kong's economy, constituting approximately 98% of enterprises and employing around 45% of the private sector workforce, SMEs play an indispensable role. Yet, the survey unearthed a perception gap, where an overwhelming 86% of respondents acknowledge their own critical contribution to the economy, while a substantial 21% either disagree or strongly disagree that they receive adequate recognition and support for these efforts. This finding highlights a crucial need for enhanced acknowledgement and more strategically tailored assistance for the SME sector.

Reflecting the business priorities of SMEs in 2026, ensuring consistent cashflow and managing costs (53%) topped the list, closely followed by expanding into new markets (44%). Their primary concerns, however, remain economic fluctuations (53%) and geopolitical uncertainties (50%), alongside operational costs (48%). It is noteworthy that while operational costs remain a significant factor, their prominence as a top concern has slightly decreased compared to 60% in 2025.

A significant 68% of SMEs are actively planning to expand into new markets over the next 2-3 years. The Greater Bay Area (GBA) cities in mainland China continue to be the predominant target, attracting 41% of these businesses, followed by Asian markets (29%) and Europe (28%). The primary objective behind this cross-border expansion is the pursuit of new customer segments, cited by 50% of respondents, indicating a strategic drive for growth beyond domestic confines.

In their choice of banking partners, SMEs overwhelmingly prioritise safety and stability, with a remarkable 94% rating these attributes as either extremely or very important. Beyond this foundational requirement, their leading expectations from banks include simplified and efficient digital banking platforms (51%) and dedicated relationship manager support and guidance (33%).

DBS is committed to being a trusted banking partner, providing innovative digital solutions, dedicated support, and robust financial stability SMEs need to realise these aspirations and thrive in an evolving market. We are uniquely positioned with our deep Asian connectivity to facilitate their market expansion and empower their journey towards digital innovation and sustainable practices.

^[1] The DBS Hong Kong "SME Pulse Check Survey" collected responses from 368 SME business owners and decision-makers in January 2026 to understand the evolving needs and ambitions of Hong Kong's SME sector.

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Recognised for its global leadership, DBS has been named "World's Best Bank " by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank< /a>" by Euromoney and the world's "Most Innovative in Digital Banking " by The Banker. In addition, DBS has been accorded the "Safest Bank in Asi a" award by Global Finance for 17 consecutive years from 2009 to 2025.

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