New initiative presented in Singapore Budget 2017 is that the Government will roll out is a new program aimed at helping small and medium-sized enterprises (SMEs) embrace Digital Technology.
The programme expands on one of the seven key strategies – to build strong digital capabilities – proposed by the Committee on the Future Economy (CFE) which released its report earlier this month.
“Digital technology has unique potential to transform businesses large and small, across the economy,” said Mr Heng in Parliament. “The first way to strengthen our enterprises, especially SMEs, is to help them adopt digital solutions.”
Singapore’s Info-communications Media Development Authority (IMDA) will work with SPRING Singapore and other sector agencies on the Small Medium Enterprises (SMEs) Go Digital programme to help companies build digital capabilities. The ability to use digital technology and embrace innovation will help businesses stay competitive and grow, said Finance Minister Heng Swee Keat in his Budget 2017 speech on 20 February 2017.
One of the components of SMEs Go Digital will see SMEs get step-by-step advice on the technologies used at each stage of their growth during the Digital Plans. This will start with sectors where technology can significantly improve productivity, including retail, food services, wholesale trade, logistics, cleaning and security.
Companies can also get help in person at SME Centres, and a new SME Technology Hub to be set up by IMDA. On the other hand, companies that are ready to pilot emerging technological solutions can receive advice and funding support.
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