Small and medium-sized enterprises (SMEs) in Singapore are already grappling with numerous headwinds - rising inflation, supply chain disruptions, geopolitical tensions, and the lingering effects of the pandemic, have significantly increased costs for businesses. What’s more, 7 in 10 Singapore SMEs are also anticipating a potential recession,...
Sleek has released its second annual Sleek Small Business Index examining the perspectives of Singapore small business owners on the current business environment and their expectations for 2023, against the backdrop of a challenging economic environment.
Through expert advice and success stories, the Sleek...
Sage, a company offering cloud business
management solutions, and Standard Chartered announced on 8 November a new
partnership to provide small and medium-sized enterprises (SMEs) with access to
tools, knowledge and funding that will simplify SME banking and support them in
making more timely and insight-driven financial decisions at critical stages...
A release from Singapore’s Ministry of Trade and Industry (MTI) indicated that the economy grew by 2.2 per cent on a year-on-year basis in the fourth quarter of 2018, easing slightly from the 2.3 per cent growth in the preceding quarter. On a quarter-on-quarter seasonally-adjusted annualised basis,...
In Southeast Asia, about 70% of SMEs (small and medium enterprises) started their business with seed money raised from their personal savings and from family and friends' financial support – particularly in Indonesia, Malaysia and Singapore. This finding stood out from a report published by Funding Societies.
Funding from...
The Monetary Authority of Singapore (MAS) announced on 28 May that the first phase of the Veritas initiative - a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA) - will commence with the development of fairness metrics in credit...
MODIFI today announced US$24m in Series B, which brings its valuation to more than US$120m. The funds will be used to grow MODIFI's digital trade finance platform for SMEs into a global trade management hub.
MODIFI’s digital trade finance platform for SMEs spans the three...
The Inland Revenue Authority of Singapore (IRAS) takes a serious view of employers who attempt to abuse the Jobs Support Scheme (JSS) and Jobs Growth Incentive (JGI). For the March 2021 JSS and JGI payouts, IRAS has withheld $85 million from 2,600 employers for further checks.
Come 30 June 2020, OCBC Bank expects the quantum of the government-assisted SME loans it lends out to help small businesses during the COVID-19 pandemic to hit the S$1 billion mark. This fully utilises the support given by the Monetary Authority of Singapore under its low-cost SGD...
