Digitalising our SMEs - benefits, costs and considerations

IN this year's National Day Rally speech, Prime Minister Lee Hsien Loong touched on the need to help Singapore companies make their mark in the global economy. Praising homegrown companies such as baby product manufacturer Hegen for leveraging digital channels for internationalisation, he signalled the government's continuing commitment to support local entrepreneurship.

In this regard, our many government schemes to boost digitalisation are laudable. However, our small and medium-sized enterprises (SMEs) may need further support from all sectors of society as they digitalise and internationalise, while they continue to enhance the dynamism of urban life in Singapore.

The impetus for digitalisation