SINGAPORE: Small- and medium-sized enterprises (SMEs) that are still grappling with the adoption of digital technologies will soon receive additional help with the return of the annual 99%SME campaign on Tuesday (Aug 21).
Started by Singtel and DBS, the campaign – named 99%SME as SMEs make up 99 per cent of businesses in Singapore – is into its fourth year.
To help SMEs further digitalise their operations, Singtel and DBS will partner the Infocomm Media Development Authority (IMDA) to enhance the e-marketplace on the 99%SME portal from next month.
The e-marketplace, which allows SMEs to list their products for free, is currently powered by online retailer Lazada – a tie-up that was announced last year to help SMEs venture into e-commerce.
With the enhancement, SMEs, especially those that do not know how to set up an online presence, will get instant connection to an e-commerce platform hosted by 99%SME, said DBS group head of SME banking Joyce Tee.
SMEs can also look forward to a separate business-to-business (B2B) marketplace where they can sell their goods and services to large corporate and multinational companies.
Developed by DBS and expected to be launched by the end of 2018, the new platform will also give SMEs access to supply chain connections, financing and payment solutions that are usually only open to large corporates or MNCs.
The development of this “industry-first” portal will be supported by 99%SME partners Mediacorp, Mastercard and Singtel, added Ms Tee.
Minister for Trade and Industry Chan Chun Sing speaking at the event. (Photo: Tang See Kit)
Speaking at the launch as the guest of honour, Minister for Trade and Industry Chan Chun Sing said the digital economy allows SMEs and small countries like Singapore to transcend geographical size and natural resources.
However, he stressed that SMEs should go beyond digitalising current work procedures.
“The great SMEs don’t just digitise their current processes. They use digital services and platforms to transform the way they analyse their markets, design their products and restructure their production processes,” said Mr Chan.
“These are the things that will allow our SMEs to achieve the quantum leap in terms of capabilities.”
Mr Chan also urged MNCs to work alongside local SMEs in going global and innovating work processes, as well as for SMEs to spread the word on embracing the digital economy.
“If we all embrace the digital economy together, we will not only benefit as a SME or individual company (but) we will have the synergy to compete on the basis of Team Singapore.”
