We want to enable companies to stay ahead of the curve and navigate the evolving business environment. To do so, we had to refocus our priorities and sharpen our strategies for enterprise development.
We will continue to take a holistic enterprise-centric approach to support willing and committed companies through transformation and growth.
We will be the single touchpoint that works with enterprises to build capabilities and expand their markets, connect them with suitable partners and government agencies, locally and globally.
Companies need to change the way they manage their business operations as we move towards a more labour-constrained environment.
Our focus will be on helping more SMEs adopt digitalisation, technology and automation as a means to uplift productivity from the get-go. Our Productivity Solutions Grant (PSG) and the Start Digital programme with IMDA are some initiatives that local companies can look into to get started.
Companies need to leverage innovation as a key differentiator and use it to sharpen their competitive advantage.
We want to enable companies to develop new technologies or adopt technology solutions to create their own intellectual property by:
Singapore has too small a domestic market. Companies need to venture beyond our shores to truly grow.
We want to help more companies who are keen to grow, to take that first step overseas, and to do so earlier in their life stages.
Going into new, unfamiliar territories can be challenging and comes with a certain level of risk. We will continue to help enterprises build the necessary capabilities and provide them with in-market entry assistance such as through our Plug & Play Network.
We understand that companies’ needs vary across industries, sizes and stages of growth. Here is how we plan to support companies using a holistic enterprise-centric approach.
Self-help tools and easy-to-adopt solutions
Targeted and customised assistance
Having the right talent is critical for companies.
Companies should look at talent attraction, leadership development and training, and upskilling of employees as they grow.
We will help enterprises build their talent pipeline through internship and management associates programmes, and strengthen their leadership ranks. One such initiative is the Global Ready Talent (GRT) programme (launching in Q2 2019) to help growing businesses build their talent pipeline early, especially to support their overseas growth.
We will also continue to work with Workforce Singapore, SkillsFuture Singapore and TACs to support SMEs in upgrading and reskilling their workforce for new or redesigned jobs.
Companies require a strong supporting ecosystem and conducive business regulatory environment to thrive.
We will strengthen the enterprise ecosystem across different dimensions to enable transformation, partnership and innovation.
We recognise the importance of networks and partnerships for enterprise development. Public and private partners bring deep expertise, resources and networks that help us reach out to more SMEs and connect them with more opportunities globally than if we were to do it by ourselves.
We want to: