small medium enterprises (SMEs)

OCBC Bank launches one-stop digital business dashboard for SME customers

SINGAPORE (Jan 14): Oversea-Chinese Banking Corporation (OCBC) has officially launched a digital business dashboard to provide its small-medium enterprise (SME) banking customers access to a number of popular digital apps, such as Facebook and MailChimp, from a single platform.  

The move comes after a soft launch for the dashboard was carried out with a select group of customers in Dec 2018.

Currently, OCBC Bank has integrated more than 40 business apps, where costs range from nothing to approximately US$200 ($270.63) per month, onto its new web-browser based platform.

UOB and NTUC launch digital innovation awards programme for SMEs

SINGAPORE (Oct 5): United Overseas Bank (UOB) and labour movement initiative NTUC U SME on Wednesday launched the SME Digital Leap Awards at the Winning in the Digital Economy for SMEs event, which saw the attendance of more than 200 SMEs.

SME Digital Leap Awards is a dedicated digital innovation award to recognise small- and medium-sized enterprises (SMEs) and their employees in the fields of digital enablement, employee development and leadership direction.

Temasek-backed Validus Capital raises over $120 mil in business funding

SINGAPORE (Sept 11): Validus Capital, a Singapore-based SME financing platform, has raised more than $120 million in funding for Singapore-based SMEs and businesses through its platform.

To date, it has financed more than 1,600 loans, with each loan request approved under 24 hours. The average amount funded per request is S$70,000, with a high degree of diversification across various industry classes.

Singapore SMEs are region's top exporters thanks to its 'thriving digital economy', finds study

SINGAPORE (Aug 1): Singapore’s small- and medium-sized enterprises (SMEs) are playing a leading role in driving export in Asia Pacific, according to the latest study commissioned by FedEx Express.

Titled Global is the New Local: The Changing International Trade Patterns of Small Businesses in Asia Pacific, the independent research was conducted by Harris Interactive on behalf of the express transportation company to offer insights into import and export opportunities as well as challenges faced by SMEs.

UOB to hold monthly dedicated digital clinics for small businesses

SINGAPORE (May 31): United Overseas Bank (UOB) says it will be holding dedicated digital clinics on a monthly basis, through which the bank intends to teach small businesses to improve their processes with technology via one-on-one guidance.

The digital clinic concept was launched at the SMEs’ Road to Business Transformation in a Digital Age event held yesterday. 

While it costs $90 for a two-hour session of the digital clinic, it is offered to U SME members on a complimentary basis as part of UOB and NTUC U SME’s ongoing collaboration.

UOB to offer start-ups, SMEs up to 20% off co-working rental rates across Southeast Asia

SINGAPORE (May 2): United Overseas Bank (UOB) says it has signed Memoranda of Understanding (MoUs) with a number of co-working spaces – namely Singapore’s 80RR Fintech Hub SG, Common Ground and WORQ in Malaysia, and Indonesia’s EV Hive – to offer its banking customers up to 20% off these companies’ rental rates.  

See: More space for fintech startups at 80RR

IFS Capital poised to gain from growing pool of cash-strapped SMEs: CIMB

SINGAPORE (Apr 5): CIMB likes IFS Capital, a financing institution catering mainly to small- and medium-sized enterprises (SMEs), given its opportunity to tap on a growing pool of SMEs with financing issues.

FinLab launches third cycle of acceleration programme for SMEs

SINGAPORE (Feb 12): The FinLab, a joint venture between UOB and state-owned firm SGInnovate, has launched the third cycle of its acceleration programme which aims to help local small medium enterprises (SMEs) grow and digitalise.

Eight SMEs from the F&B, retail, wholesale trade and logistics industries will be chosen to participate in the Cycle 3 programme, which will commence in end-March next month.

Why local SMEs prefer to stay put in Singapore over international expansion

SINGAPORE (Jan 29): Small medium enterprises (SMEs) in Singapore appear to display an appalling lack of interest in taking their businesses beyond the city state, according to QBE’s annual survey of more than 400 local SME business leaders.

In a Monday release, the global insurer says its survey findings showed that almost half (45%) of Singaporean SMEs said they will not explore expansion across borders, with a larger proportion (56%) of smaller SMEs indicating likewise.

Just 14% said they intended to internationalise.

Six items on Deloitte's wish list for Budget 2018

SINGAPORE (Jan 5):  With Minister for Finance Heng Swee Keat to deliver this year’s Budget Statement in Parliament on Feb 19, Deloitte has released its wishlist for Budget 2018.

This is broadly shaped by the twin requirements of maintaining competitiveness and fiscal sustainability with a key focus on ensuring that Singapore’s tax base is not eroded by structural shifts in the global economy, says the multinational professional services firm in press release on Thursday.

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