Small and medium enterprises (SMEs) in Singapore have borne the brunt of the disruption caused by the pandemic. Already under pressure from personnel and operations costs, the SME has been further stressed by low business demand as international travel and supply chains slow down to a trickle.
But there is hope amidst the chaos: several SMEs have managed to digitise their way into productivity, and many have implemented out-of-the-box solutions to increase profitability. Some SMEs have managed to pivot towards online-only or omni-channel businesses, and others have even managed to grow and scale up during the past two years. They’ve done this while
warding off cyberattacks, keeping their headcounts stable, and finding new revenue streams or reorienting their business models to align with the “new normal”.
SMEhorizon 2021 is a special magazine from SMEhorizon.com that aims to chronicle the tumultuous times of the past two years, and examine how certain SMEs have managed to prosper amidst the disruption. It features interviews with business owners and senior management of SMEs who have made wide-ranging changes and digitalised during the pandemic.
We’ve also tried to get a gauge of the outlook for SMEs for 2021 and an overview of what we can expect over the coming years as a new way of work crystallises globally. We’ve examined some of the threats and risks, as well as opportunities, that are surfacing in the current period, and how technology is a key player in changing the way SMEs look at their internal transformation and helping them reach out to their customers more effectively.
We hope you enjoy the read!