Letters | How Hong Kong’s healthcare ‘Davids’ can compete on the world stage
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David’s epic victory over Goliath has enlightened many that even an underdog can have its day when fighting more sizeable opponents. The same applies to healthcare companies in Hong Kong when they step into a global healthcare field that already has a number of giants.
The Hong Kong Productivity Council recently released a research report on the development of Hong Kong’s healthcare industry. Most healthcare companies in the city are “Davids” when it comes to business turnover and staff numbers.
In terms of business volume, 60 per cent of researched Hong Kong companies have an annual turnover of US$5 million or less, and only 20 per cent of them recorded more than US$10 million. As for staff size, 43 per cent of the researched Hong Kong companies have manpower of 10 people or fewer. Only 8 per cent of them have a staff size that ranges from 101 to 1,000.