The global trading markets are in flux, and it’s not only the COVID-19 crisis influencing international supply chains. Ongoing trade wars and rising costs of doing business in certain markets have manufacturers and other businesses adjusting where they operate and with whom.
Across Asia, an ongoing boom in global eCommerce volume, coupled with a convergence of market conditions, has made cross-border B2B trade a booming business — and a potentially lucrative one for small and medium-sized enterprises (SMEs). According to Bertrand Theaud, founder of Hong Kong-based FinTech Statrys, the proliferation of family-owned SMEs across Asia continues to propel cross-border trade volumes in the region.
Yet these smaller companies struggle to access the kinds of financial products and services larger enterprises wield to finance that trade. Speaking with PYMNTS, Theaud discussed some of the unique challenges across Asia when SMEs grow internationally, plus explored what’s ahead for the market as more FinTechs step in to tackle those pain points. Read more…..
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