As Singapore re-opened her economy, government measures have shifted from containment to restructuring, while continuing support for Singaporeans, workers, and businesses. Broad-based support has transitioned into more targeted efforts for firms, especially those in the hardest-hit sectors. At the same time, measures were introduced to preserve core...
Singapore’s Budget 2021 was delivered by Deputy Prime Minister Heng Swee Keat on 16 February. Coming after a challenging year where COVID-19 has created major upheavals worldwide, the budget indicates a shift in government measures from “containment to restructuring, while continuing our support for Singaporeans, workers, and...
Funding Societies, a SME digital financing platform, announced that it has achieved S$2 billion in disbursals of business financing to small and medium sized enterprises across the region. This milestone comes as the platform enters its sixth year of operations. The amount is partly crowdfunded by over...
Battling the economic fallout from the COVID-19 pandemic has taken a toll on entrepreneurs, especially those heading micro and small enterprises. A DBS survey showed that over eight in ten owners of micro and small businesses have made personal sacrifices to keep the lights on amid the...
Small- and medium-sized enterprises (SMEs) in Singapore want continued financial support from the Budget 2021 to help them to retain their employees while they continue to build back their businesses, according to the UOB SME Outlook 2021 Study. More than half of SMEs want...
In the annual SME financing research conducted by Linkflow Capital, an SME loan consultancy firm, more than half of SMEs experienced improved access to financing in 2020, a significant increase from 39% in 2019. According to Linkflow Capital, up to 52% of SMEs were...
The Monetary Authority of Singapore (MAS) has issued revised Technology Risk Management Guidelines to keep pace with emerging technologies and shifts in the cyber threat landscape. The revised Guidelines focus on addressing technology and cyber risks in an environment of growing use by financial...
The Singapore Business Federation (SBF) SME Committee (SMEC) submitted its recommendations for the Singapore Budget 2021 to our Government on 30 November 2020.Budget 2021 RecommendationsFor Budget 2021, the SBF SMEC has put forth six key recommendations to help companies gain access to necessary resources, build resilience to...
The Monetary Authority of Singapore (MAS) and the Bank of Ghana (BOG) have commenced discussions to adopt the Business sans Borders (BSB) open hub of platforms between Singapore and Ghana. These discussions on close cooperation will benefit the small and medium-sized enterprises (SMEs) and...
OCBC Bank has developed a framework – the OCBC SME Sustainable Finance Framework – that makes it simpler and less costly for Singapore small and medium enterprises (SMEs) to access sustainable financing of up to S$20 million to accelerate their sustainability plans. SMEs will no longer...