Business rep warns SMEs are struggling

A representative of small and medium-sized enterprises (SMEs) in Macau has raised concerns about the potential closure of businesses in non-tourist districts.

Fong Kin Fu, the president of the Federal General Commercial Association of Macau Small and Medium Enterprises, highlighted the decline in business activity and spending in residential areas, particularly in northern Macau. While the recent influx of visitors to Macau during CNY has undoubtedly helped local SMEs, Fong believes more focus needs to be redirected towards non-tourist district, as cited in a Macao Daily News report.

He noted the absence of Hong Kong visitors who used to explore local culture in less popular areas during the Lunar New Year. Fong also said budget-conscious younger travelers now prefer city walking experiences.

An anonymous dessert business owner in Areia Preta expressed the struggles faced by his family-run business due to changing consumer attitudes and increased competition among smaller businesses, exacerbated by the Covid-19 pandemic, the report added.

“Customers tend to be heading across the border for cheaper options. You either lower prices to keep them or risk losing them, but the lower the prices are, the closer the business is to closing down.”

Categories Macau