Singapore SMEs

Higher bar, talent crunch complicate Singapore SMEs’ succession plans

For ageing towkays, finding the right successor may prove more elusive than before, observers say

DBS Singapore country head Lim Him Chuan (second from left); Acting Transport Minister Jeffrey Siow (third from left); and Chua Chu Kang GRC MP Choo Pei Ling at Tengah Community Club.
TAKING HEART

DBS commits S$10 million to cashback deals, boosts AI adoption support for SMEs

The moves are aimed at helping more Singaporeans ‘stretch their dollar’ and future-proofing local firms

Jerome Seow (left) and Claire Francis, co-founders of Fresher Performance Meals. The home-grown meal prep services provider has seen sales grow more than 50% annually since 2019.

Track your macros: Meal prep delivery services see gains in Singapore, amid health and fitness boom

Much of the demand has been fuelled by a new generation of consumers who are more informed about nutrition and portion control, players say

The index is compiled from transactional data of more than 100,000 OCBC SME customers in Singapore, each with annual revenue of up to S$30 million.

Singapore SMEs extend growth streak in Q1, but Middle East war clouds outlook: OCBC

Growth for the quarter is broad-based, supported by SMEs in domestic-facing and outward-oriented industries

Half of all firms polled say they have already raised prices or renegotiated contracts, while 40% of SMEs are prioritising cash conservation.

Two in three Singapore firms ‘moderately to severely’ hit by Iran war: SBF

Rising energy and logistics costs affect operations and demand, even as firms try to manage expenses and shift strategies

COO Pooja Patodia says the pre-school wants to “nurture the children’s self-expression, confidence and emotional quotient to get them used to the big world”.

Little Paddington eyes Spark certification for all 10 branches within the next three years

Private pre-school operator’s revenue up 20% in 2025 thanks to higher enrolment numbers, says its chief operating officer

Joseph Ryan (left) and Stephen Dunstan co-founded Hit Refresh in 2021 to address what they saw as fundamental inefficiencies in the traditional F&B model.

A broken F&B model and Hit Refresh’s bid to reset it with freshpod kiosks

Through this initiative, the startup is rethinking how meals are prepared and served

In a landscape of mega-brands and massive chains, it is also independent micro-SMEs that give a city its character.
THINKING ALOUD

In defence of dreaming small: micro-SMEs in the modern city

Singapore needs to nurture local champions for the global stage – but can afford to have some that stay home, too

Wenny Lim, HomePay co-founder and COO, says the app "protects millions of dollars in renovation payments weekly because renovation contracts are not small in value”.

Local fintech startup HomePay looks to bring greater security to Singapore’s renovation industry

Its mobile app reduces the risk of scams by protecting homeowners through an escrow-payment system

Elaine Heng, head of global commercial banking at OCBC, says:  “We’re seeing this very strong momentum, and it’s very encouraging.”

OCBC ups ante on SME sustainability with S$25 billion financing target

This is the first time an Asian bank has set a dedicated sustainable finance goal for the segment