Championing the spirit of entrepreneurial resilience

Companies around the world are going through many unforeseen challenges as the global pandemic shows no signs of slowing down. Singapore is no exception.

In particular, small and medium-sized enterprises (SMEs) across the island are doing all they can to stay afloat amid the economic fallout. Game-changers in their own right, some are diversifying their offerings while others are re-imagining their business models to continue serving their communities.

For instance, businesses in the food and beverage industry - arguably one of the most affected industries by Covid-19 - have taken to offering food delivery services, while those in the education industry have switched to conducting classes online.

Shining the spotlight on Singapore's best

In this difficult period, it has become more important to recognise such efforts, and rally businesses to champion the values of resilience, tenacity and importantly, innovation in their daily operations.

The Enterprise 50 (E50) Awards, firmly established as the benchmark of excellence, is well-placed to lead this charge.

As an annual event first established in 1995, it hails Singapore's top 50 most enterprising local, privately-held companies. Through valuable endorsement and a coveted mark of recognition, E50 companies have been the ones to watch in the business community.

The E50 Awards is jointly organised by KPMG in Singapore and The Business Times, supported by Enterprise Singapore, the Singapore Business Federation and the Singapore Exchange, and sponsored by OCBC Bank.

Advocating innovation and sustainability

This year's theme, 'Extraordinary Times, Exceptional Resilience', could not be more relevant.

To encourage the unwavering entrepreneurial spirit of the Singapore business community, companies will be lauded for their accomplishments, spirit of innovation excellence and sustainable business models amidst today's challenging, Covid-19-induced economic climate.

On top of that, the E50 Awards remains a valuable mark of excellence, a stamp of approval that opens doors to new businesses, as well as offers access to strong financial backing. Winners can benefit from being part of Singapore's business network which provides a launchpad for expansions abroad as well as to an IPO listing.

Since its inception, it has honoured more than 600 companies; of these, more than 100 have gone on to be listed on both local and overseas stock markets.

Staying ahead of the curve

Past winners include private nursing home operator Orange Valley Nursing Homes, leading chain soya bean food and beverage retailer Mr Bean International, and air-conditioning as a service (ACaaS) provider Kaer.

Kaer's chief executive officer, Mr Justin Taylor, shares that the E50 experience has enabled the company to collaborate and learn from like-minded people and businesses that are embracing new technologies and business models to bring change for good.

He says, "E50 is not just an award, it is a community. Being part of this community allows you to learn from other businesses that are facing and conquering the same challenges as you are. Now, more than ever, it is important for us to share our experiences and work as a community to grow our businesses."

This year's Awards aims to not only recognise commendable efforts, but also boost flagging spirits.

"Businesses have been hard hit by Covid-19. With increasingly challenging and unexpected scenarios, it is imperative that companies stay resilient as they adopt a growth mindset, reshape business models and innovate to stay ahead of the curve," says Mr Jonathan Ho, partner and head of Private Enterprise at KPMG in Singapore.

He adds, "I urge all enterprises to participate in the E50 Awards to gain increased recognition, greater access to business networks and a platform for sustainable growth. We also want these enterprises to inspire other businesses to emerge stronger and to go on to achieve more."

Be inspired to find out more and participate in the awards. Nominations are now open. Click here to download the 2020 E50 Awards nomination form, or visit https://enterprise50.org/ for more information.

Give your business the recognition it deserves

Criteria for eligibility includes the following*:

* For other criteria, click here. **Participating companies are required to write to the Enterprise 50 Secretariat to request for an extension of deadline for the submission of the audited financial records if they are unable to submit them by the closing date (15 September 2020). Should the submission deadline fall on a weekend, the entries must be submitted by the next working day. Extension is subject to the organisers' approval.