Singapore’s 2020 Budget statement was delivered on Tuesday, 18 February, 2020. Its measures include the Stabilization and Support Package to stabilize the economy and support workers and enterprises, as well as moves to grow the economy and transform Singapore’s enterprises.
Responding to challenges in...
Since 2013, the SME Centre @ North West under North West Community Development Council (CDC) has engaged SMEs through various platforms, from mass networking sessions and capability building workshops to more personalized one-to-one consultations. These provide guidance for SMEs to develop in Singapore and abroad.
Enterprise Singapore (ESG) and the Singapore Business Federation (SBF) look forward to expanding partnerships with Indonesia companies in priority sectors of manufacturing, infrastructure, digital economy, and consumer services.
In partnership with ESG, SBF will be leading a business mission to Jakarta during Singapore...
The Singapore Business Federation (SBF) SME Committee (SMEC) submitted its recommendations for the Singapore Budget 2020 to the Singapore Government in December 2019. For the 2020 Budget, the SBF SMEC is proposing seven key recommendations that will provide our SMEs with increased liquidity through new schemes and initiatives, greater...
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...
Since 20 January 2020, suppliers to the Singapore Government gained an additional channel to submit e-invoices via the Nationwide E-invoicing Network. Suppliers are encouraged to submit e-invoices to the Government agencies via this network.
The Nationwide E-invoicing Network, initially launched in January 2019, aims...
The Monetary Authority of Singapore (MAS) announced the commencement of the Payment Services Act (PS Act) on 28 January 2020. The new PS Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use of e-payments.
Despite the challenges facing Singapore businesses in an uncertain economic climate, nine in 10 businesses now recognize the importance of business transformation to maintain competitiveness and competency. Nearly two in three companies (66%) also view technology adoption as fundamental in transforming their businesses. Internationalization has picked up...
Convening alongside the annual World Economic Forum Annual Meeting in Davos, the International Chamber of Commerce (ICC) joined the Singapore Government and a growing consortium of key industry partners to accelerate the digitalization of global trade and commerce.
The Singapore Government and major firms...
Singapore announced in January 2020 a set of new initiatives on AI governance to enhance consumer trust. These are an Implementation and Self-Assessment Guide for Organisations (“ISAGO”), a Compendium of Use Cases, and the second edition of the Model AI Governance Framework. They are key components of...
