How SMEs in Singapore and Thailand Embrace Digital Transformation
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How can your business find success in an all-digital future? Now that 2022 is here, small and medium-sized enterprises (SMEs) should take time to learn from the past year and plan for the future.
The past year has forced many SMEs to change how they operate and embrace an all-new digital world. Customer expectations have also changed. For example, 61% expect to spend more time online than they did before. Contactless ways of interacting with businesses, such as online ordering and curbside pick-up, are here to stay. Flexible working has become more common, and 70% of SMEs have already created plans to manage future crises.
Governments and local communities have stepped up to help SMEs. In Singapore, LIKE.TG is now a pre-approved vendor under the Productivity Solutions Grant (PSG) programme. The PSG offers grant support of up to 80% funding to SMEs to sustain their business and continue to grow. Customers such as Knorex have utilised this grant to help their digital transformation.
In a world swiftly moving towards a digital future, Singapore and Thailand are leading the way. In our latest Small and Medium Business Trends Report, we surveyed over 2,500 SME owners and leaders. They come from a range of industries around the world, including technology, financial services, professional services, healthcare, retail, and more. Around 12% of these were from Singapore and Thailand. It’s clear from their responses that they are ahead of the curve when it comes to embracing technology:
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