New office to help SMEs navigate, provide feedback on regulations
It will sort and forward feedback from businesses to the government, record standards for rules and monitor outcomes to catch systemic issues
SMALL and medium-sized enterprises (SMEs) can soon tap into a new office for support in navigating whole-of-government rules and regulations, especially for nascent or cross-cutting issues. The new SME Pro-Enterprise Office (PEO), established under Enterprise Singapore (EnterpriseSG), is expected to launch in the first quarter of 2025.
The new office will have three main functions, or “three Ts”: triage, track and treat, said Senior Minister of State for Trade and Industry Low Yen Ling on Monday (Sep 23).
It will sort and direct businesses’ regulatory feedback to relevant government agencies for review and reply; establish and track government service standards on regulatory issues; as well as monitor case resolution outcomes and analyse feedback, to identify systemic regulatory issues for early review and resolution.
The government can thus examine areas for improved regulatory effectiveness, such as better inter-agency coordination and shortened process times for regulatory applications and approvals, the Ministry of Trade and Industry (MTI) and EnterpriseSG said in a media statement.
Citing examples of common regulatory processes that can be improved, they added that sequential inter-agency clearances for licensing-related matters can take a long time. This causes delays and adding to operating costs. Complex regulatory requirements may lead to erroneous or incomplete application submissions.
Said Low: “We need smoother regulatory processes and shorter processes, and we need minimal regulatory barriers, and this is even more vital with the rapid emergence of new technologies as well as the fast evolving business environment.”
A NEWSLETTER FOR YOU
Friday, 8.30 am
SGSME
Get updates on Singapore's SME community, along with profiles, news and tips.
While the office will take a “broad-based approach”, one example of an emerging area where it may be helpful to “harmonise” regulations is the installation of solar panels, she added. The issue could potentially involve many agencies, such as the Singapore Civil Defence Force, the Building and Construction Authority, the Ministry of Manpower and the National Environment Agency.
The upcoming office will complement the work of other government regulatory agencies, which will continue to handle regulatory cases that are straightforward and specific to their agencies. This will be done through their own hotlines or feedback channels.
An alliance for action on business competitiveness set up earlier this year has said that the government can do more to support businesses in navigating regulatory requirements. At this year’s National Day Rally, Prime Minister Lawrence Wong also spoke about minimising the regulatory burden, to help businesses innovate and manage costs amid growing global competition. He gave the example of the streamlined process for registering drones to be used in drone shows.
Currently, businesses that need support regarding regulations can approach a public-private Pro-Enterprise Panel under the MTI.
The announcement of the SME PEO comes after an inter-ministerial committee was formed in April, to look into cross-cutting issues and reducing compliance costs. These measures aim to help SMEs stay competitive and tap into new business opportunities.
“The business operating landscape, including the associated regulatory requirements, has evolved over the years and become more complex,” said EnterpriseSG’s managing director Cindy Khoo.
The SME PEO will be a “central coordinating unit” to address these concerns, while working with other agencies to improve regulatory effectiveness and identify other potential complex issues that may impede growth.
Copyright SPH Media. All rights reserved.
