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SINGAPORE FORTITUDE BUDGET 2020: SUPPORTING ENTERPRISE

SMEs get over S$500 million funding boost to go digital - starting with F&B and retail

Govt allotting over S$500 million to support transformation; observers say proper change management needed to ensure firms stay the course

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“The generational factor also plays a hand ... younger budding entrepreneurs are more digitally savvy and open-minded to the benefits it brings.” - Ng Li Lian, head of business banking, HSBC Singapore.

Singapore

THE Fortitude Budget's measures to support digital transformation may be able to give small and mid-sized enterprises (SMEs) that final push to digitalise, but experts say proper change management will be needed to ensure the firms can stay the course on digitalisation.

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