Hong Kong, January 21, 2025 – The Competition Commission has unveiled the “Small and Medium Enterprises Competition Compliance Hub” (SME Hub), a one-stop platform designed to help small and medium-sized enterprises (SMEs) navigate competition law and reduce the risk of violations.
The SME Hub provides key information about the Competition Ordinance, risk assessment tools, and a template compliance program tailored for SMEs. This initiative aims to bridge the compliance gap for SMEs, which often lack the resources to implement robust legal strategies.
Addressing a Gap in Compliance
A recent survey conducted by the Commission revealed that while 81% of businesses have basic knowledge of the Competition Ordinance, only 24% of SMEs have implemented specific compliance measures or staff training. Recognizing this shortfall, the SME Hub seeks to empower SMEs with tools and strategies for compliance, ensuring fair competition across industries.
Features of the SME Hub
The platform comprises four key sections:
- Know the Rules – Explains competition law topics with real-life examples and a multilingual read-aloud function.
- Risk Assessment – Identifies potential risks in dealings with competitors, suppliers, and customers, and offers tailored recommendations.
- Am I a Victim? – Guides SMEs on identifying and handling anti-competitive practices they may face.
- Competition Compliance – Provides a template compliance program SMEs can adapt as internal policy.
Dr. Gary Shiu, Executive Director (Policy & Advocacy) of the Commission, emphasized the economic significance of SMEs, which constitute 98% of Hong Kong businesses and employ over 1.2 million people. “By equipping SMEs with accessible compliance tools, we aim to deter anti-competitive conduct and foster a fair business environment,” he said at the launch event.
The Commission will further support SMEs through workshops, talks, and training programs to promote the adoption of compliance measures. Details are available on the SME Hub at sme.compcomm.hk.
Source: https://www.compcomm.hk/en/media/press/files/SME_Hub_PR_EN.pdf
