In the first half of this year, China saw over 67,000 small and medium-sized enterprises (SMEs) operating nationwide. Take Guangdong as a case in point: from January to July, nearly 3,000 toy export companies went dormant. By the end of the third quarter, the number of companies actually exporting toys dropped sharply—from 4,820 to just 1,554 compared to the same period last year. This has placed immense pressure on SMEs, pushing many to the brink of survival. As Alibaba’s CEO Jack Ma once said, “The most important thing for SMEs is to survive.” In the face of an increasingly challenging economic climate, those still in business are actively seeking ways to weather the “winter.” Measures such as securing more funding, forming industry alliances, upgrading technology, adjusting product structures, cutting operational costs, and exploring new markets have become critical survival strategies for these businesses. Meanwhile, support from both the government and private sector has been growing. Since the start of the year, the central government has allocated over 3.5 billion yuan in special funds to support SMEs. The Ministry of Finance and State Administration of Taxation also announced an increase in export tax rebates for 3,486 tariff items, including textiles, clothing, and toys, effective November 1. Private companies with close ties to SMEs have also stepped up their efforts. For instance, Alibaba launched a dedicated team for its SME development plan, committing $30 million in advertising expenses to help SMEs expand internationally. Nanjing Iveco, a leading Chinese manufacturer of high-end light commercial vehicles, has also taken action, becoming one of the first automotive companies to invest in supporting SMEs. The relationship between SMEs and commercial vehicle companies has always been strong. SMEs have long been a key consumer group in the commercial vehicle market, especially in the light commercial vehicle segment, where various types of light passenger vehicles and trucks serve as essential tools for business operations. However, as the economic crisis deepens, this close relationship is now under strain. “On one hand, losing a large number of SME users would severely impact our business,” said Shi Qiancai, deputy general manager of Nanjing Iveco Sales Co., Ltd. “On the other hand, there are still many SME owners who remain determined to continue and even grow their businesses. Meeting their needs and supporting their entrepreneurial dreams is the core of our Million Entrepreneurship Plan.” Nanjing Iveco’s initiative is made up of two parts, with the newly launched Iveco Baodi all-round light passenger vehicle serving as the main platform. In today's economic climate, many SMEs are facing financial challenges, making the demand for multi-purpose vehicles more urgent. They want vehicles that can handle both urban distribution and passenger transport efficiently. “Helping SMEs make the most of their limited budgets and find better transportation solutions is our biggest responsibility,” said Shi. In addition to providing affordable vehicles, Nanjing Iveco also offers opportunities for top SME entrepreneurs to receive venture capital support and business guidance through a competitive selection process. The first phase of the “One Million Entrepreneurship Plan” includes 200 spots, with a total fund of 1 million yuan. Top participants can receive up to an $80,000 discount, while outstanding business plans will get expert advice and consulting services. According to industry experts, the success of China’s auto industry in recent years has largely been driven by the support of SMEs. Nanjing Iveco’s actions reflect a broader trend of Chinese automakers giving back to society and supporting small businesses during tough times.

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