inancial technology startup Micro Connect – backed by the likes of Hong Kong property tycoon Adrian Cheng and billionaireFounded in 2021, Hong Kong-based Micro Connect facilitates global institutional investments in micro and small businesses across mainland China. Its exchange will give investors around the world access to over 2,900 brick-and-mortar stores in 169 Chinese cities, spanning industries such as retail, food and beverages, services, and culture and sports.
“Despite their huge contribution to the economy, and the strong growth they have, [micro and small businesses] have to rely on savings, family and friends, and also unsustainable borrowing,” says Charles Li, 61, cofounder and chairman of Micro Connect. “We’ve found a solution that will provide perfect capital for ‘the little guy,’ and perfect capital for the investors.”
Following the soft launch, Micro Connect’s businesses are required to provide proof of a 90-day operating track record and effective system connectivity, ensuring they can share their revenue on the blockchain. During this period, investors can create accounts on Micro Connect’s exchange to access data about potential investments, including industry reports and revenue predictions based on sector, brand and location.
As China slowly reopened its borders, micro and small businesses were touted as a “driving force” in the country’s recovery. In his final government work report in late 2021, Premier Li Keqiang halved the income tax required for qualifying micro and small businesses until 2024.
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