Helping SMEs tackle issues of liquidity, business development and efficiency

SINGAPORE’S small and medium enterprises (SMEs) are the heartbeat of the economy, making up 99 per cent of enterprises and accounting for about 70 per cent of the labour force. Yet how can they continue to grow and succeed in an increasingly challenging and complex global environment?

As Maybank Singapore head of SME banking, I have worked with many business owners and gained insights into their priorities, concerns and challenges. The journey towards thriving and succeeding is not something that SMEs should have to undertake alone. Rather, it is a collaborative effort where governments and corporates support SMEs from start-up to growth and expansion.

SMEs face three main business challenges: liquidity, business development and operational efficiency.