SINGAPORE – The nationwide SMEs Go Digital programme, which inspires firms right here to digitalise, has attracted greater than 78,000 small and medium-sized enterprises (SMEs) since its 2017 launch, with greater than half, or 40,000, approaching board in 2020 alone.
The latter determine consists of 30,000 SMEs that took up Covid-19 options comparable to on-line collaboration and digital assembly instruments.
As on the finish of final 12 months, Singapore has about 280,000 SMEs, in keeping with authorities information. SMEs account for 70 per cent of employment and characterize 99 per cent of all enterprises in 2020.
The digitalisation replace was made by Minister for Communications and Data Josephine Teo on Tuesday (Nov 30) on the on-line closing ceremony of the SME Convention and Infocomm Commerce Convention occasion organised by the Singapore Chinese language Chamber of Commerce and Trade.
Mrs Teo stated that the Covid-19 pandemic has given firms right here the impetus and alternative to embrace digitalisation.
“As increasingly more actions shift on-line, companies have needed to pivot from bricks-and-mortar outlets to digital platforms; to adapt to the brand new regular,” she added.
The Authorities can be dedicated to serving to firms at each stage of their digital journey, stated Mrs Teo, including that this was why it launched the Begin Digital initiative in 2019.
The initiative offers newly integrated SMEs and those who have but to digitalise with foundational and easy-to-deploy options at low value.
Mrs Teo stated that about 4 in 10 SMEs that obtained funding assist by way of the scheme are new start-ups.
Throughout a dialogue on the occasion, the minister stated that it’s unclear what a digital future will actually be like and the way it will work, including that that is “frontier terrain” and everyone seems to be attempting to develop a playbook for it.
However one benefit Singapore has is that the Authorities and the enterprise neighborhood are all the time consulting one another.
“Going ahead, I feel this relationship is much more necessary,” she stated.
“As a result of it’s frontier terrain, all of the extra we’ve to work together with one another, and develop and strengthen belief. In any other case, I do not see how we will transfer ahead in a manner that can strengthen Singapore’s aggressive place.”
