SME Centres to offer more comprehensive advisory services, referrals for complex issues
'It will be easier for SMEs to connect with the right resources that enable their growth and transformation,' said Senior Minister of State for Trade and Industry Low Yen Ling on Wednesday (Jul 30), at the SME Centre Conference 2025.
The 10 SME Centres help about 25,000 small and medium-sized enterprises (SMEs) each year through business advisory, capability development and group-based upgrading.
They are run by five trade associations and chambers, in partnership with Enterprise Singapore (EnterpriseSG).
A series of improvements are ahead, to be implemented by 2027.
First, SME Centres' business advisers will provide more comprehensive and personalised services.
A NEWSLETTER FOR YOU
Friday, 8.30 am SGSME
Get updates on Singapore's SME community, along with profiles, news and tips.
Sign Up
Sign Up
More than 70 advisers are being trained to deepen their expertise. Beyond general business and grant advisory, they can conduct holistic business reviews to help SMEs achieve their goals.
New diagnostic toolkits will be used to identify capability gaps and give recommendations. For a start, these will cover capabilities related to internationalisation and digitalisation. Topics such as sustainability will be added later.
Specialised support
Second, for complex issues, SME Centres will refer enterprises to partners for specialised help.
These include the SME Pro-Enterprise Office, for regulations; the Centre for the Future of Trade and Investment, for trade and tariff issues; and Cefa, which will become operational in the coming months.
Cefa is jointly set up by EnterpriseSG and the Singapore Business Federation. With help from the Association of Banks in Singapore, it aims to strengthen SMEs' financial resilience.
The centre will provide tailored advice on growth plans, guidance on financing options, and opportunities to connect with financers and investors. There will also be resources, tools and training for SMEs to build internal financing capabilities.
'Cefa represents a significant step forward in providing SMEs with the financing support as needed to pursue growth opportunities in a rapidly evolving economic landscape,' said Low.
More upgrades
Separately, a new system will centralise appointment booking for SME Centres and simplify the process.
The centres are also being upgraded physically. The SME Centre at the Singapore Manufacturing Federation, for example, was revamped in April with a dedicated room for consultations and presentations, and a showcase of manufacturing solutions and automation equipment.
Wednesday's conference, held by the SME Centres and EnterpriseSG, included expert talks on how partnerships can drive growth and transformation, as well as an exhibition with consulting firms and solution providers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
8 hours ago
- CNA
Trump tariffs: Singapore will continue to be subject to a 10% rate, says MTI
Singapore's Trade and Industry Ministry has confirmed that the country's exports to the US will continue to be subject to a 10 per cent tariff. This update comes after Deputy Prime Minister Gan Kim Yong said earlier this week that the United States was not keen to discuss reducing Singapore's tariffs. MTI says it is closely monitoring developments and will seek clarification from their US counterparts as necessary. Associate Professor Goh Puay Guan from the Department of Analytics and Operations at the NUS Business School and Ang Yuit, President of the Association of Small and Medium Enterprises, comment if the baseline tariff rate of 10 per cent for Singapore is as good as it gets. They talk about if SMEs see this 10 per cent rate as manageable, or are margins already feeling the squeeze.
Straits Times
12 hours ago
- Straits Times
Microsoft launches AI accelerator to help firms develop agentic AI road maps
Sign up now: Get ST's newsletters delivered to your inbox Senior Minister of State for Trade and Industry Low Yen Ling at Microsoft's office on Aug 1 for the launch of its Agentic AI Accelerator programme. SINGAPORE – In the future, when an e-mail from a client on the commencement of a legal suit lands in the inbox of law firm Rajah & Tann, an artificial intelligence (AI) agent programmed to process it can automatically forward it to lawyers with the most relevant experience, suggest key legal issues to be addressed and even draft preliminary legal opinions. This is an example of how Rajah & Tann partner Rajesh Sreenivasan envisions agentic AI systems could supercharge the firm's work, and he hopes the company will be able to tap on a newly launched AI accelerator programme to do that. Agentic AI are AI systems designed to autonomously make decisions, and it can plan and execute complex tasks to meet predetermined goals. An example of this is autonomous driving vehicles. On Aug 1, Microsoft announced the launch of its Agentic AI Accelerator programme, at an event at its office at Frasers Towers. The programme will offer selected businesses up to $700,000 in services to co-develop their agentic AI road map with technology partners like EY, NCS and Accenture Avanade. Up to 300 local businesses will also receive baseline support of up to $250,000 of Azure cloud credits and AI training and tools. The AI accelerator programme is part of the Government's Enterprise Compute Initiative (ECI) , designed to help Singapore-based companies with their AI transformation projects. Announced in Budget 2025, the $150 million initiative sees the Government supporting firms by co-funding 70 per cent of consultancy costs, capped at $105,000 per enterprise. Microsoft is the third company coming on board the ECI programme, after Google and Amazon Web Services. Top stories Swipe. Select. Stay informed. Tech Reporting suspected advanced cyber attacks will provide a defence framework: Shanmugam Singapore Tanjong Katong sinkhole: Road will progressively open to motorists from Aug 2 noon World Trump modifies reciprocal tariffs ahead of deadline; rate on Singapore remains at 10% Business Singapore's US tariff rate stays at 10%, but the Republic is not out of the woods yet Singapore 5 women face capital charges after they were allegedly found with nearly 27kg of cocaine in S'pore Business Sumo Salad had valid insurance coverage for work injury claims: MOM Asia Australia to force Google to conduct age checks in world-first rules for search engines Singapore PM Wong to deliver National Day message on Aug 8 Speaking to The Straits Times on the sidelines of the launch, Mr Rajesh, who also heads his firm's technology, media and telecommunications practice, said that legal disputes often involve tight deadlines, and the use of agentic AI systems can help lawyers work efficiently under a time crunch. 'An AI agent could be able to evaluate some of the issues (in a dispute) and come up with a draft defence, before actual lawyers come in to properly look into it. Agentic AI systems can become part of a legal team,' said Mr Rajesh, who emphasised that lawyers ultimately have to be responsible for the legal advice. Microsoft Singapore's acting managing director Cynthia Yeo pointed out that agentic AI is the next wave of cutting-edge technology. Unlike traditional AI, which waits for human prompts, agentic AI can work alongside people or even independently to complete complex tasks. Organisations where teams of humans and AI agents work together will be able to scale faster, move with greater agility and create value in new ways, said Ms Yeo. Microsoft's Work Trend Index report published in April found that 82 per cent of business leaders intend to deploy AI agents to scale workforce capacity in the next 12 to 18 months. 'The combination of support now available to local businesses through the Government's ECI and Microsoft's new Agentic AI Accelerator will drive innovation and position Singapore to lead with AI,' said Ms Yeo. Senior Minister of State for Trade and Industry Low Yen Ling, the guest of honour at the event, said that as Singapore supports companies in developing cutting-edge AI tools, it has to ensure people are well-equipped to take on the opportunities. She commended Microsoft for its role in developing AI talent in Singapore, as the company has collaborated with SkillsFuture Singapore to help small and medium-sized enterprises to upskill their workforce in AI. 'For Singapore to thrive in the global economy, we must stay at the forefront of enterprise innovation,' said Ms Low. 'Let us continue to innovate to improve our workplace processes, widen AI technology development and adoption, and upskill our people to remain competitive and resilient. This will allow us to realise the full potential of AI and bring lasting benefits to Singapore.'
Independent Singapore
2 days ago
- Independent Singapore
Local says he's 'drowning' after nearly 5 months of unsuccessful job hunting
SINGAPORE: A local took to social media to share that he feels like he's 'drowning' as his job search continues to go nowhere. Posting on the r/askSingapore subreddit on Wednesday (July 30), he said he believes he has already applied to every available job opening in the advertising and creative field he could find. Yet, despite his efforts, he has not received any positive responses or seen any progress in his job hunt. He added that it has now been nearly five months since he began searching for a new role. 'It is tough trying to stand on my own, seeking a job, going through months of interviews and facing random people's judgment,' he wrote. '[It's] really suffocating with this loop, and things change fast. I feel like I'm just letting time pass, and in return, I get nothing,' he added. He also shared that he previously worked in a small and medium-sized enterprise (SME) for two to three years. Unfortunately, due to what he described as 'unfair' circumstances, he ended up taking 'many steps back' in his career. Feeling increasingly hopeless about the situation, he asked others for advice: 'Should I just change career path and work just for the money?' 'It takes time.' Sympathising with the local's unfortunate experience, one user advised him to take up part-time jobs in the meantime to keep his mind occupied. 'Having a part-time [job] helped me quite a bit. More so mentally than monetarily. I only worked around 3 days a week,' they wrote. 'It helped keep my mind off the job hunt, especially since it's not like there are new openings every day, and even if there is, it's usually a bump of an old ghost job. Monetarily, it helped reduce my cash burn. So it helped reduce the stress on that end, better too,' they added. Another echoed this sentiment, writing, 'Do part-time at a restaurant. You can earn at least S$1.8k for a 5-6 day week night shift while job hunting and improving your skillset during the day. Exercise every day. It will help you out mentally.' Meanwhile, a third user shared their own experience in hopes of encouraging the local and helping him stay positive. 'I graduated in the top 5% at NTU, did a PhD, and dropped out. I was jobless for six months as employers questioned my mental toughness. I know how it feels. That was seven years ago. Now I'm in another industry,' they said. 'It takes time. You just need to hit gold once, and once you are inside, try to stay as long. Also, it will help if you have referees who can vouch for you.' In other news, an employer was shocked after discovering through CCTV footage that her domestic helper had thrown household items out of a window. She shared the incident in the MDW in Singapore Facebook group on Sunday (July 27), explaining that she had been trying to locate several items that had mysteriously gone missing from her home. Read more: Employer discovers maid threw household items out the window, asks if incident can be reported to police See also What the FAQ is blockchain?
