Internet realm

The role the Internet can play in fostering small and medium enterprises (SMEs) in Macau is apparently being underestimated.
In a series of comments by industry insiders speaking at the One Belt, One Road Conference held last week, the unexplored potential of using cyberspace to launch new businesses in the city was highlighted a few times.
Startup companies are usually small-sized, knowledge-intensive ventures, which should be able to make the most they can out of new technologies – and wild, innovative ideas – with little resources, financial and human, in order to be successful.
The target market of young entrepreneurs should not be limited to the boundaries of their hometowns. They should think globally and embrace the World Wide Web.
Although reaching out is the way to go, there are a few elements that have to be well-developed at the basis, the physical location, so to speak, where those companies set up shop.
First, there is a need for a qualified workforce in areas such as foreign languages and coding.
Coding is the language of the future. And there is a reason for that. Services are increasingly more sophisticated and explore the edges of technologies available and emerging everyday around the world. Grappling with this idea, several high schools in Europe and in parts of Asia have already included coding in their basic curriculum.
The premise is simple. If you don’t have enough trained people, you cannot move ahead.
And that leads us to the second matter. Red tape.
Currently in Macau, improving education and training is as much an issue as making foreign qualified staff promptly available. And for business, this also means having the choice to opt for imported labour, if they deem the options available locally do not meet their requirements.
Finally, there is a crucial matter, which has been partly covered here. Raising funds.
The Macau SAR Government has set up quite a generous scheme of aids and loans for SMEs. Just last week, the Macau Science and Technology Fund also increased the offer, by launching a bid to provide financial support up to MOP500,000 for candidates that present practical and interesting solutions to help develop Macau as a Smart City.
So the options are seemingly expanding as the virtual world continues to open yet more chapters for those willing to make a difference.
And change, in this case, should begin with the mindset.