HSBC launches Business Go to deepen support for businesses
HSBC Business Go is a B2B digital platform offering dynamic features to help local businesses expand overseas, optimise business operations, and collaborate with other like-minded peers
HSBC Business Go employs machine-learning and API technologies to empower entrepreneurs with the latest markets and business insights, while connecting with like-minded peers across four markets: Singapore, Hong Kong, Malaysia, and India.
Through the platform, HSBC Singapore aims to create an ecosystem that encourages businesses to adapt to the rapidly changing market environment through mutual support, idea exchange and experience sharing.
Ms Amanda Murphy, Head of Commercial Banking, South and Southeast Asia, HSBC said: “ASEAN offers huge potential for Singapore-based firms to look overseas for growth opportunities, but we also recognise that it requires a lot of time and resources for companies to take that first step. We have developed HSBC Business Go based on client feedback to make it easier for firms to access the insights, expertise, and network that we bring to help them successfully venture overseas.”
ASEAN’s GDP growth exceeds much of the rest of the world: it grew 30% from 2011 to 2021, compared with global growth of 23% over the same period. As a trade bloc, ASEAN’s US$3.66 trillion GDP (2022) makes it the fifth largest economy after the United States, China, Japan, and Germany1.
Given Singapore’s prominence as a strategic trade hub of the region, local businesses will be well-placed to capture these growth opportunities.
A key feature of HSBC Business Go is International Navigator, an all-in-one knowledge hub, supported by knowledge contributor, EY. International Navigator provides a holistic view of HSBC-generated market insights, research reports and country guides, as well as up-to-date information on corporate tax, personal tax, international tax, government incentives, foreign direct investment regulations, and currency regulations from EY, making it seamless and fuss-free for firms to gain key information that will facilitate their expansion overseas.
During the initial phase, International Navigator will offer market insights on Singapore, Malaysia, and Indonesia, with plans to include other key markets and add knowledge contributors over time.
In addition, HSBC clients joining the HSBC Business Go platform can choose to have the added convenience of having their financial statements directly linked to their existing account with Xero, an accounting software for small businesses.
Singapore is the fourth market in HSBC to offer HSBC Business Go to local businesses. The community-led platform has since attracted over 130,000 users and generated around 450,000 monthly page views across Hong Kong, Malaysia, and India, demonstrating the convening power of HSBC, one of the largest commercial banks in the world.
Mr Temi Ofong, Global Head of Customer Channels, Commercial Banking, HSBC, said: “The power of HSBC Business Go is the ability to build a community platform for business owners across the region to gain critical insights and make connections that will accelerate their growth ambitions beyond their home markets. The strong adoption that we have seen since we first introduced the platform in Hong Kong is a clear demonstration of the value that it brings to business owners.”
Find out more: HSBC Business Go
Media enquiries:
Betty Fong betty.c.y.fong@hsbc.com.sg +65 6658 4103
Note to Editors:
HSBC Singapore client quotes on Business Go
“It’s especially helpful that HSBC Business Go draws on the different market’s government, business, and trade platforms to provide a one-stop view of key information needed to aid us on our regional expansion journey. I found that tremendously valuable as it’s made it so much easier for us when we were setting up our business in Indonesia and Hong Kong.” – Ms Abigail Yu, Director, 3E Accounting Pte Ltd
“The HSBC Business Go platform not only helps generate valuable business leads, but also contributes to the success of other small businesses. It’s a true win-win which is why we were excited to sign up as a member when we first heard of the platform.” – Ms Reena Sharma, Director, Shandi Global Pte Ltd
The Hongkong and Shanghai Banking Corporation Limited
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of $3,021bn at 30 September 2023, HSBC is one of the world’s largest banking and financial services organisations.
EY
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Xero
Xero is a global small business platform with 3.95 million subscribers which includes a core accounting solution, payroll, workforce management, expenses and projects. Xero also has an extensive ecosystem of connected apps and connections to banks and other financial institutions helping small businesses access a range of solutions from within Xero’s open platform to help them run their business and manage their finances. Xero is a FIFA Women’s Football partner.