SME Webinar in Singapore: Digital Transformation for Singapore SMEs
The Council in collaboration with Enterprise Singapore, Infocomm Media Development Authority (IMDA) and Singapore Business Federation (SBF) will hold a webinar for Singapore SMEs.
As the COVID-19 pandemic hits the Southeast Asia region, Singapore is one of the countries greatly affected by the pandemic. The country has recently entered a technical recession after its economy contracted 41.2 per cent in the second quarter. The Monetary Authority of Singapore (MAS) also projected the GDP shrink between 4 and 7 per cent this year. In Singapore, SMEs are accounted for an estimated two-thirds of all employment and contributed to nearly half of the country’s Gross Domestic Product (GDP) in 2018. And SMEs are one of the most affected key players during the COVID-19. Therefore, accelerating digital adoption is necessary to help SMEs cope with the disruption to lower the risk from the economic crisis.