Recognising the important role that social enterprises (SEs) play in creating positive impact in society – whether by hiring disadvantaged members of society or solving societal problems – DBS has announced a slew of proactive measures to beef up support for this sector. They...
The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS) and the Finance Houses Association of Singapore (FHAS), have announced an extension of support measures to help individuals and Small and Medium-sized Enterprises (SMEs) facing cashflow difficulties transition gradually to full loan...
The Singapore Economic Development Board (EDB) secured investment commitments in 2019 that exceeded its forecast for the year, reflecting companies’ confidence in Singapore despite global uncertainties. These amounted to S$15.2 billion in Fixed Asset Investments (“FAI”) and S$9.0 billion in Total Business Expenditure per annum (“TBE”) in...
In a bid to provide a higher level of security to customers, Singapore’s DBS Bank has launched digital tokens for more than 200,000 of its corporate and SME customers on DBS IDEAL, the bank’s online banking platform for corporate and SME customers.  According to...
Even as Singapore pushes to become cheque-free by 2025, cash cheques continue to be used by small and medium-sized enterprises (SMEs), typically to pay staff salaries, get cash for daily business operations or pay vendors for services rendered. While cheque usage by OCBC...
Small and medium businesses need to jump on to the mobile payments bandwagon in order to gain a competitive edge over larger firms. A recent survey conducted by US-based financial services corporation Visa, indicates that customers worldwide prefer to pay with credit cards or mobile devices. According to the survey titled Digital Transformations...
A dipstick poll conducted by financial services group DBS has revealed that SMEs in Singapore are looking to the government to give them a leg-up in supporting their business growth this year. Eight in 10 said they are expecting more business incentives to be announced at the...
The Monetary Authority of Singapore (MAS) has announced the launch of a S$35 million Productivity Solutions Grant (PSG) for the financial services sector to help smaller financial institutions adopt digital solutions for more streamlined data reporting to MAS. The grant is currently applicable to...
Southeast Asian fintech player Grab Financial Group, has launched its SME lending and micro-insurance for drivers in Singapore. The ‘Grow with Grab’ roadmap aims to provide a comprehensive portfolio of financial services in Southeast Asia for micro-entrepreneurs and small businesses. The services include micro-insurance products, post-paid and...
The recent DBS SME Pulse Check Survey signalled that the Singapore Government’s relief measures are paying off, with only three in ten SMEs now flagging cash flow concerns as a top priority, compared to over seven in ten when the same question was asked in early February...