The Singapore Business Federation Young Business Leaders Network (SBF-YBLN) announced on 20 February 2020 the launch of the SBF-YBLN “Helping Our Promising Enterprises” (HOPE) Fund to support local businesses during this challenging period. In partnership with Goldbell Evolution Network (GEN), a private debt investment platform, a seed...
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...
The COVID-19 outbreak has prompted Singaporeans to embrace more digital services when taking charge of their finances - and this is a shift that the majority believe will stick post-pandemic, a survey by personal finance website SingSaver found. Conducted in June, the survey analysed...
The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) announced in early November the successful completion of its Business sans Borders (BSB) Phase One Proof-of-Concept (POC). MAS and IMDA will proceed with the Phase Two Pilot of the BSB in 1H 2020. BSB is...
Enterprise Singapore is focusing on strengthening the startup ecosystem in Singapore by working with global and local partners. This supports the national Research, Innovation and Enterprise 2020 Plan to build a strong core of innovative enterprises and startups to capture global opportunities and create high value jobs...
Standard Chartered (the Group) announced its launch of a USD50 million global fund providing assistance to those affected by the COVID-19 pandemic. The Group will immediately donate $25 million to support emergency relief in our most affected markets. The additional $25 million will help communities over...
United Overseas Bank (UOB) announced on February 12 that its allocation of S$3 billion to provide companies, especially small- and medium-sized enterprises (SMEs), in Singapore with relief assistance to tide over the negative impact of the COVID-19 outbreak on their business. In the...
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...
Small businesses across ASEAN are counting on technology to help them overcome the impact of the COVID-19 pandemic on their operations. Technology was ranked the top investment priority for 2020 by two in three (64 per cent) small businesses, including those who currently have cash flow concerns.
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...