Mr Yeo Guat Kwang, Assistant Director-General and Director of U SME, NTUC 

Mr Lawrence Loh, Managing Director and Group Head of Business Banking, UOB 

SME Partners, 

Ladies and Gentlemen, 

Introduction

1. A very good evening to all of you. It is my pleasure to join you at the inaugural SME Digital Leap Awards Ceremony.

2. The event is a timely initiative, as digitalisation and advances in technology are key drivers for many industries in Singapore and around the world. For businesses that have taken steps to embrace technology to improve productivity and create good jobs, this is an occasion to recognise their efforts. 

Companies of all sizes can benefit from digitalisation

3. All companies, regardless of size and sector, need to move in tandem with technology and market changes.  I understand that more than half of the entries received for the SME Digital Leap Awards are from the smaller companies, including micro-SMEs.  An example is Kim Eng Mini Supermarket. By implementing a point-of-sales system, Kim Eng could track the best-selling items, which has improved inventory planning. The adoption of new technologies has also allowed them to tailor promotions to customers, based on age group and gender.  

The Government will continue to help SMEs scale up digitalisation

4. As we work with businesses and TACs to understand the challenges of business development in the digital economy, the Government has put in place measures that support SMEs to adopt new technologies and build new capabilities. 

5. Enterprises must start with a vision of what they want to achieve, what problems they want to solve, and what capabilities they need to build. This must be clear before we start looking at the government schemes and grants that can best support the company. 

6. Earlier this year, Enterprise Singapore (ESG) and the Infocomm Media Development Authority (IMDA) launched the Start Digital initiative, to enable new SMEs to get a head start with two foundational digital solutions.  Costs are waived for at least six months, to support the company’s growth and scalability. This is part of the SMEs Go Digital Programme launched in April 2017 that aims to simplify the digitalisation journey for our SMEs. 

7. As of end-January 2019, the SMEs Go Digital programme has supported more than 4,000 SMEs to adopt pre-approved solutions. This is a jump from close to 650 SMEs reported in January 2018. I encourage our SMEs to tap on the readily available schemes and solutions, and make the most of digital technologies to improve your competitiveness.

8. With such rapid changes in technology, the Government is also reviewing our regulations to facilitate a pro-enterprise environment that can allow innovative ideas and new business models to thrive. The Pro-Enterprise Panel (PEP) under MTI works with public sector agencies to foster a pro-business environment through continuous review of our rules. Apart from encouraging SMEs to go digital, the Government is also looking at how we can make good use of technology to enhance our service for businesses. 

9. Last year, the PEP worked with public agencies to remove the requirement for companies to affix company stamps for government forms. The business community welcomed this initiative, as it reduced the administrative efforts required to fill up the forms. One of the follow-up feedback we received was that some government forms still require companies to download, print and to fill in by hand. So we asked ourselves: why not provide an option for companies to fill up the forms electronically? 

10. After consulting the public agencies, I am pleased to announce a new initiative by the PEP and business-facing agencies to provide an option for companies to submit all regulatory applications and forms electronically by the second half of this year. This effort is also in line with the broader digital drive across our public agencies. Companies that prefer to submit via the electronic option no longer have to go through the cumbersome process of printing, completing and mailing hardcopy forms to the agencies. We save time, save work and save the trees.  It is good for business and good for the environment.  

Invest in worker training and development 

11. While enterprise transformation may be technology-driven, it must remain people-led and worker-centric. A good example is Lim Kee, a homegrown manufacturer of pau and dim sum. While its workers were initially worried when the company decided to embark on digitalisation, Lim Kee adopted a phased approach to integrate digital technologies into their business operations. They provided training for their workers in stages, so that they could learn and adapt to their redesigned job roles as well as the new operating practices. Lim Kee put their workers first and this has facilitated the company’s growth and development.

12. The Government will continue to invest in training and upskilling programmes to help SMEs upskill their workers, so that they continue to have good jobs and growth opportunities. Our brothers and sisters from NTUC U SME will work with employers to set up training committees that will identify the training programmes and skill sets that are required for their workers.  The enterprise transformation journey can be a challenging task, but you are not alone.  The government and NTUC are here to walk this journey together with you.  

13. SMEs can also benefit from efforts of private sector organisations such as UOB. SMEs can receive practical, one-on-one guidance on how to implement digital solutions into their operations from experts at monthly digital clinics organised by UOB. I am happy that U SME has worked with UOB to offer these services to U SME members free-of-charge.

Conclusion 

14. Let me conclude by thanking UOB and NTUC U SME for organising this ceremony to celebrate the achievements of our SMEs that have made outstanding progress in three areas of their digital transformation: digital enablement, employee development, and leadership direction. I hope that the success of our award winners will inspire other SMEs to embark on their own digital transformation journeys to build stronger capabilities and become more competitive here and abroad. 

15. Thank you and I wish you a wonderful evening ahead.