Singapore is one of the best countries in the world to set up an small business (called Small-and-Medium-Enterprises in Singapore). The government understands the potential of small and medium enterprises. As a result, apart from providing a favourable working environment, it offers incentives that are meant to help entrepreneurs succeed in setting up businesses in the country.
The Inland Revenue Authority of Singapore (IRAS) has several tax schemes that are designed to lower the taxes that SMEs pay to the government. SPRING Singapore is another government body that offers funding schemes to startups. Regardless of the niche your business is in, you can relocate it to Singapore and succeed.
SMEPortal.sg was established in 2006 to offer additional help to businesses in the country. It is the first stop for SME business owners as well as aspiring entrepreneurs looking for accurate information, services, and tools that they can leverage to establish a profitable and competitive business in the country.
Over the years, the Portal has been redefined and enhanced to meet the ever-changing needs of SMEs as well as changes in market trends. Collaborations between government agencies, more than 30 industry leaders, and Enterprise Singapore have greatly helped to enhance the portal.
Here are facts on how SMEPortal.sg can help your business thrive in Singapore.
Tech Depot
First, it is important to appreciate the fact that Singapore is one of the most technologically advanced countries in the entire Asia Pacific region. Customers tend to gravitate towards businesses that have embraced the latest technology. SME Portal has a dedicated section dubbed Tech Depot that is meant to give you first-hand information on readily adoptable technologies that you can use to improve your businesses.
The section has numerous pre-qualified solutions that have been proven to be capable of helping businesses maximise their operations and get more leads. The solutions are grouped in 10 categorises namely:
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Customer Management
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Data Analytics
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Finance Management
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HR Management
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Inventory Management
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Machine Effectiveness
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Marketing & Content Management
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Project Management
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Quality Assurance
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Workflow Tracking & Management
Be sure to evaluate how each solution works to select one that best suits your business model.
Valuable Business Guides
Sure, relocating your business to another country is not easy. There are a number of fundamental factors that you need to put into consideration. SMEPortal.sg is committed to guide you through the process and ensure that you succeed by providing all the business guides that you require. The guides are categorised in four main groups namely:
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Business Development
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Finance
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Human Resource
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Legal
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Quality & Standards
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Sales and Marketing
There are hundreds of articles in each category that you can read to get all the information you need to make the right decisions for your newly incorporated business in Singapore. Note that the guides are written by experts who have an in-depth understanding of the business landscape in Singapore. Also, the facts presented in the guides are validated before publishing and regularly updated to continue offering accurate information to you.
Money Matters
One of the challenges that SMEs not only in Singapore but also in other parts of the world face is lack of enough capital to support their daily operations. Even though Singapore government through the Inland Revenue Authority of Singapore offer tax incentives to help you save money on taxes, you may still need additional financial help to safeguard sustainability of your business.
SMEPortal.sg has a dedicated Money Matters page that offers valuable financial information that is meant to help small and medium enterprises in the country make informed financial decisions. So far, the information in this section has helped thousands of SMEs become financial stability and avoid common pitfalls. This information is presented in four categories namely:
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Assistance for Startups
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Grants
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Loans
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Tax Incentives & Credits
Click on the category that is in line with the financial information you are looking for. For example, the Grants category provides information about the various funding options available such as Building Information Model (BIM) Fund and Business Improvement Fund (BIF).
Business Opportunities Available
One of the highlights of Singapore government is that it is committed to helping small and medium businesses in the country to succeed regardless of the niche and size. All you have to do is make sure that you adhere to the set rules and regulations to avoid legal tussles and other inconveniences that could hamper the growth of your business.
SMEPortal.sg has a section called “Opportunities” which is tailored to provide information about the various opportunities available to SMEs in the country. For example, if you are interested in government contracts, you will find details of all the existing tenders and information on how to apply. The opportunities are divided into four groups namely:
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Government Contracts and Tenders
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GeBIZ Alerts
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eBIZ Trading Board
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Group Deals
In particular, GeBIZ Alerts is a unique daily email service that is set to alert all entrepreneurs who subscribe to the service about opportunities posted on the main Singapore government procurement website. The service was introduced in March 2011 and by March 2013, already 5,000 SME owners had subscribed. This number has since then increased tremendously – make sure that you subscribe to get timely alerts. The alerts will ensure you never miss an opportunity to scale up your business.
What is eBiz Trading Board? This is an advanced one-stop e-procurement portal meant for SMEs in Singapore. The platform offers information about tenders and request for quotations from renowned companies in the country such as Singapore Airlines, ST Electronics, OCBC Bank, and Singtel.
Group Deals is run by Singtel myBusiness and is based on the concept that you save more money when you buy products together and in bulk. It is difficult to get good deals when you buy products for your company in small quantities. Joining hands to create a large online SME Community helps members to access exclusive deals.
One of the advantages of Group Deals is that all products that you purchase for your company will not only be discounted but also delivered to your location free of charge. In addition, the products are covered by a comprehensive 30 days return/exchange policy.
Networking Opportunities
Networking with other entrepreneurs and professionals from an industry or niche that your business operates in will help you get insights on how to scale up your business. What better way to connect with other professionals than attending events such as conferences, forums, and summits.
SMEPortal.sg has a Networking page that you can click on to get information about the SME events coming your way in the next 30 days. This section is updated regularly so be sure to check in regularly to avoid missing any of them.
Details of Services Available
Proper planning will help your business grow in Singapore. However, you also need additional services to develop sound strategies that will promote growth of your business. SMEPortal.sg has a SERVICES page that you can click on to get links to various fundamental services that you may require when establishing a company in Singapore.
The services are categorised in several groups namely:
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Business Development
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Business Operations
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Finance
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Human Resource
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Information Technology
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Logistics and Transport
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Sales and Marketing
For example, if you are looking for services related to business development, all you need to do is click on the Business Development tab. You will be redirected to another page to view a list of all the legally accredited companies that offer those services.
On the other hand, if you are looking for solutions to enhance your business efficiency and productivity, click on Information Technology category. Here you will find links to renowned companies that are best known for providing quality IT services to SMEs in the country.
The Sales and Marketing category will help you connect with companies that can create effective sales and marketing strategies for your brand.
All the companies who are listed here have been vetted and found to meet the set standards. So rest assured that you will get value for money that you spend on the services that they offer.
Learning
It is wise to take additional courses to hone your skills and expertise. The more information you have about the business landscape in Singapore, the higher your chances of making the right decisions for your business. SMEPortal.sg has a dedicated COURSES section that you can view to get information on the various courses that you can enrol in to improve your business skills.
To save you time, the courses information is categorised based on the topics they cover namely:
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Finance
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Business Development
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Business Operations
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Information Technology
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Human Resource
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Sales and Marketing
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Legal and Intellectual Property
All the courses are offered by professionals who have years of experience and are legally accredited. Do not shy away from asking questions to get as much information from your preferred course as possible. Remember knowledge is power; it will fuel your business to the next level of success.
It is also important to note that this section of the website also offers a list of courses that you can take online in the e-learning courses category. They courses cut across multiple disciplines and are properly grouped to avoid any confusion. If you are looking for an e-course in sales and marketing, click on the Sales and Marketing category.
Additional Resources
SMEPortal.sg also goes an extra mile to offer additional resources that you can use to improve your business. These additional resources available include:
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SME Centres
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Support Centres
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Breaking Boxes
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Case Studies
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ENEWLETTERS
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Marketing Insights
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Publications
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Tool Kits
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Videos
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Useful Links
One of the most frequented sections is the Marketing Insights section that is packed with valuable and accurate information about market trends in Asia Pacific region. Case Studies can also help you learn tips and secrets from other companies that have been in the situation you are in today.
Closing Remarks
SMEPortal.sg has all the resources that you need to establish and grow your business in Singapore. All the information presented in the portal is accurate and relevant to your business in one way or another. There is also a support team that is always available and willing to help you benefit fully from the portal.
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