New website resource for SMEs ahead of AEC's launch this year

A NEW website (http://www.businessinasean.com/) has been launched to help small and medium enterprises (SMEs) across South-east Asia to prepare for the launch of the Asean Economic Community (AEC) at the end of this year.

Apart from information on what to expect from the AEC, the portal set up by Rajah & Tann Asia, United Overseas Bank and RSM Chio Lim Stone Forest also provides answers to frequently asked questions on doing business in Asean.

These pertain to banking and finance, audit, tax and advisory, and legal matters, such as how a company might coordinate the different regulatory processes for a transaction across multiple jurisidictions. The website also includes a feature which allows companies to pose their own questions to the three firms.

"Many MNCs have done their own study on the competition and opportunities brought about by a single market but SMEs appeared less prepared," said Chia Kim Huat, Rajah & Tann partner and regional head, Corporate & Transactional Practice. The portal, and an e-book hosted on the site, are meant to "provide insights on how SMEs can venture into the region without fear of tripping up over the different laws, practices and economics", he said.

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