South East small business owners study highlights family, purpose and technology sit at the core of modern businesses
Key findings:
– In South East Asia, business success is defined by providing economic opportunity for family
– 84% of small business owners own a printer and 57% agree that without their printer, their business cannot operate
– Two-thirds of small business owners would choose not to grow their business if growth meant going against their values
– Four out of five small business owners agree they have a duty to do their part to protect the environment and three-quarters believe they have a duty to contribute to the community
Thailand, April 2020 – HP Inc. today shared the results of the HP Small Business Owner Today Study, which examines both the motivations and business ethics of company heads as well as their technology expectations.
“South East Asia is one of the most dynamic and fastest-growing regions in the world. An expanding middle class, a young, increasingly well-educated population and diverse economies, has led to significant optimism. In conversations with small business owners, we see a real desire to do what’s right for their families, their communities and the planet,” said Lim Choon Teck, Managing Director of HP Thailand “We share their values and are working hard to be their trusted technology partner, helping them to build companies that matter. That means developing and services that meet their needs and give them an edge on global competition.”
The results show that South East Asian small business owners are more community oriented and purpose-led than their peers from around the world. They are also more in-tune with technology and are actively seeking a partner that will help their business excel.
The family is core to everything small business owners do in this region. It is the number one reason they started their business. They also define business success first and foremost by the ability to provide economic opportunity for their families. And almost two-thirds, more than any of the other ten nations surveyed, hope to build a legacy in order to pass on their business to family members in time.
There is currently a lot of optimism amongst South East Asian small business owners about their prospects. In Thailand, almost nine in ten or 91% agree that they are creating a better life for their families through their business, and 77% believe that their children will have better lives than they had growing up. But because so much is riding on the success of their businesses, 89% are motivated to keep building their firms purely to avert failure—higher than any other country.
This focus on doing right by their families is likely a reason that South East Asian small business owners are more conscientious than many of their global counterparts. Four in five (79%) agree that responsible owners have a duty to protect the environment, and three-quarters (76%) believe they should contribute to the community. As a comparison, only 65% of UK and 64% of US small business owners agree they have a duty to protect the environment, and only 42% of German company heads feel an obligation to their local community.
South East Asian small business owners are also highly principled in their approach to business. 65% of Thais would choose not to grow their business if growth meant going against their values. And 69% will not work with other companies if they feel they do not support the community. There is similar sentiment expressed if others do not respect cultural norms, the rights of the underrepresented or the betterment of women.
Technology needs of small business
Keeping up with technology is a major concern for seven out of ten South East Asian small business owners and ranks as important as adjusting to the current economic climate. At the heart of modern business is the printer, with high ownership of 85% in Thailand. And 64% of Thais agree that without their printer, their business cannot operate.
76% see their printer as a technology partner, wanting it to perform tasks beyond just printing. But for 66% of small business owners, there is a disconnect between what they feel they need from a printer, and what printer manufacturers are offering.
HP is addressing this by launching a range of innovations directly targeted at the South East Asian small business sector. Owners not only expect consumer technology to handle business tasks but also believe that business technology must have the ease of use and convenience of consumer products:
– HP Smart Tank which has easy-to-fill ink tanks to save employees time and automatic alerts that state when ink is running low.
– HP Smart App has become essential in allowing people to print and scan from anywhere, anytime. The app has innovative AI features to accelerate tasks like snapping a photo of an invoice and scanning it to finance or converting handwritten notes into searchable and editable files.
Original HP Supplies innovation
This leadership extends into HP’s expertise in ink. Today, small business owners can have confidence that the important business or legal documents they print today using Original HP Supplies will last for the next hundred years if stored correctly.
If a company chooses to print using non-genuine HP ink or toner, they risk quality, productivity and increasing the total cost of ownership. Imitation cartridges require three times more service calls(a), cost 10% more in the long-term and produce an average of 31% fewer usable pages(b) than Original HP Supplies.
There is also a significant cost to the environment when companies use imitation ink and toner. Compared to official HP cartridges, imitation toner cartridges have a 55% larger carbon footprint, consumes 54% more fossil fuels, need 40% more energy(c). Worst of all 97% of new imitation cartridges will end up in landfills(d).
Original HP Supplies, by contrast, are manufactured with sustainability in mind. The company has used more than 218 million pounds of recycled plastic to make ink and toner cartridges since 2000(e). Today, more than 80% of ink cartridges and 100% of toner cartridges contain recycled content(f).
“We know that high-quality prints help small business owners win and retain more business as well as deliver higher customer satisfaction. But we are also aware that company owners across South East Asia are looking for ways to operate sustainability and take the lead on the important issues we face as a global society. For those that refuse to compromise, there is no substitute for Original HP Supplies,” concluded Lim Choon Teck, Managing Director of HP Thailand.
About the HP Small Business Owner Today Study 2019: South East Asia Insights
The HP Small Business Today Study is a global study by HP Inc. It was conducted by global market research firm Edelman Intelligence, across three continents and 10 geographical areas (USA, Canada, China, Germany, Mexico, Russia, Iberia (Spain and Portugal), South East Asia (Indonesia, Thailand, Vietnam, and the Philippines), UK, and India). Fieldwork took place over February 2019. We interviewed more than 4,300 small business owners (1-100 employees) aged 18+.
About HP Inc.
HP Inc. (NYSE: HPQ) creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at www.hp.com.
(a) Marketing Strategies International. HP Technician Study: APAC 2018. August 2018.
(b) Spencer Lab. Monochrome Cartridge Reliability Comparison Study: APAC 2018. 2018.
(c) Four Elements. Life Cycle Environmental Impact Study for North America. January 2018.
(d) Keypoint Intelligence. Primary Research: AP Cartridge Collection and Recycling Report 2018. July 2018.
(e) HP. HP supplies recycling. 2019.
(f) HP. Sustainable Impact. 2019.
