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In tough times, SMEs prioritise revenue ahead of innovation, talent retention

BUFFETED by a slowing economy and prolonged US-China trade war, Singapore's small and medium-sized enterprises are prioritising revenue growth ahead of product innovation, talent retention and...

Government to engage businesses on raising of retirement age, develop support package: DPM Heng

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Money

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Are you looking for advice on taxes or loans? Wondering how to make use of data analytics? Curious about how other SMEs motivate employees? Tap the wisdom of our panel of experts and the savvy of fellow entrepreneurs now - just ask.

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Editor's Pick

Support for SMEs entering new markets?

What can help ease the process for an SME trying to find its footing in a new market?
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Expert’s Take

Wong Choo Sin
Divisional Director, Enterprise Partnership Group, International Enterprise Singapore

Many SMEs face challenges in navigating the business landscape and finding the right local partners when expanding overseas. To ease some of these initial challenges, companies can make use of IE Singapore’s Plug and Play Network (PPN). Currently, there are 9 PPN partners providing pre-market entry advisory, business matching, in-market consultations and co-working spaces in key cities in China, Southeast Asia and India.

When going into a market, leasing an office space can be challenging due to regulatory requirements and high overhead costs. Processing time for office rental may also take quite long depending on the market. By using a PPN partner’s co-working space as a start, companies can set up easily and quickly without the hassle of business registration, renovation and rental agreements. A plus point is that these PPN co-working space partners have business mentors and advisors on hand to guide companies on set-up and business issues.

Another common challenge is in finding business leads. By using some of our partners on the PPN, companies can tap into their search and business matching services for overseas business partners.

For more details about the Plug and Play Network, visit http://www.iesingapore.gov.sg.jnsqjk.cn/PPN .

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In tough times, SMEs prioritise revenue ahead of innovation, talent retention

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