TAIPEI (Taiwan News) — The Ministry of Economic Affairs said in a Friday (Nov. 29) report the number of small and medium enterprises in Taiwan surpassed 1.67 million last year, setting a historic record.
The ministry said in a press release nearly 700,000 SMEs were established over the past eight years, accounting for over 40%, with sales exceeding NT$6 trillion (US$184.8 billion).
Taiwan’s SMEs have shown strong resilience despite challenges like geopolitical issues and inflation, it explained, per CNA. The number of companies, employment, and sales are all growing.
The ministry noted that as global inflation eases and emerging technologies such as AI and high-performance computing drive demand, exports are increasing. From January to October, export value reached US$390.42 billion, with an annual growth rate of 10%.
Additionally, the ministry recommended SMEs seek international cooperation in their early stages to seize market opportunities.
The ministry added the government aims to develop even more SMEs through digitalization and net-zero policies. It said it will continue to create an environment that promotes steady business growth.