International Business & Economy Singapore must embrace digital age to boost SMEs’, says communications minister

Singapore must embrace digital age to boost SMEs’, says communications minister

Digitization is the way forward as business transactions become increasingly automated




- Advertisement -

To increase the impact and contribute positively to Singapore’s overall growth, it is critical that small and medium-sized enterprises (SMEs) adopt digital technology.

This is the view of the Minister for communications and information, S. Iswaran, speaking on Feb 17 when he discussed the Singaporean government’s efforts to support current enterprises in the digital space.

Iswaran, who also acts as the minister-in-charge of trade relations, noted the government is not only focused on improving the operations of the big business but also SMEs.

The SMEs role in the business community is vital as they push forward our economic stability as a whole, especially as they become plugged into the digital economy to mobilise their daily operations and automate their business transactions.

- Advertisement -

Other government agencies have suggested businesses make full use of digital technology to increase their productivity and enterprise competitiveness.

In recent years, SMEs are seen as key drivers of the country’s economy. As cited by the Department of Statistics, SMEs posted 65% contribution towards providing Singapore’s jobs.

In 2017 alone, SMEs contributed 49% or $196.8 billion to the country’s economy.

The agency defined SMEs as enterprises that have operating receipts of not more than $100 million or employs about 200 members of the workforce.

Iswaran said that the country’s digital readiness programme is designed to promote the welfare of both the workers and businesses.

He added when society is aware of digital technology, Singaporean citizens can easily access and enjoy the e-government’s benefits and the advantages of other digital services.

He was speaking to reporters on Sunday morning on the sidelines of a Chinese New Year community event in West Coast GRC, where he is an MP.

On Sunday, he attended the relaunch of the West Coast Cares programme, which began in 2015, at the West Coast Market Square in Clementi. Under this initiative, over 150 domestic businesses are helping in providing daily necessities for households who need them most.

Iswaran led the People’s Association Community Spirit Awards among partner organisations such as West Coast 726 Hawkers’ Association, Clementi Town Shop-Owners’ Association, and West Coast Drive Merchants’ Association, recognising their assistance.

Several packs of oranges were given to the Square’s food centre’s residents, diners, and hawkers.Follow us on Social Media

Send in your scoops to 

- Advertisement -

Viral video: 4 cyclists disregard traffic rules and turn on red light along Keppel Rd

Singapore – Video footage of cyclists blatantly disregarding the red light at a junction and turning towards Anson Road is circulating online, sparking yet another call from members of the public for stricter measures against reckless road users. On Wednesday (May 5),...

Travellers already in quarantine express dismay over 7-day SHN extension

Singapore—The Ministry of Health (MOH) announced new restrictions on travellers from high-risk countries on Tuesday (May 4).  All travellers coming from these countries are now subject to 21-day Stay-Home Notice (SHN) at dedicated SHN facilities. The 21-day SHN now applies to travellers...

Workers’ Party to continue with face-to-face MPS, but suspends house visits

Singapore—The Workers’ Party (WP) announced on Tuesday (May 4) that its Members of Parliament will be continuing face-to-face meet-the-people sessions (MPS). This is to accommodate elderly citizens and residents who are unable to connect online, the party said in a statement in...
Follow us on Social Media

Send in your scoops to