Mr Andrew Lim, Managing Director, Business Group, Singtel Group Enterprise,

Ms Joyce Tee, Managing Director & Group Head, SME Banking, DBS Bank,

Mr Parminder Singh, Chief Commercial and Digital Officer, Mediacorp,

Mr Yeo Hiang Meng, President, The Federation of Merchants’ Associations, Singapore,

Ladies and Gentlemen,

Good afternoon.

1.    I am delighted to join you for the launch of the 99% SME Shopping Week. This event marks the culmination of activities under the 99% SME campaign, which helps SMEs digitalise their businesses and go online, and rallies corporations and Singaporeans to contribute to helping our SMEs to grow. As mentioned by Mr Andrew Lim, this year’s 99% SME Shopping Week has over 5,500 SMEs on-board, more than double the number last year. It is very encouraging that the campaign has grown in scope, reach and impact since its inaugural edition in 2015.

Support for SMEs under the 99% SME Campaign

2.    Singtel and DBS have done a great job in mobilising several partners to augment the support to SMEs. For example, thanks to the new 99% SME eMarketplace established in collaboration with Lazada earlier this year, SMEs are able to market their products and services online, and gain more visibility and potential sales. The campaign also recognises that success in the digital economy depends not just on having the right tools, but also the right skills. Therefore, another highlight is the recent tie-up with the five local polytechnics, which involves students and staff providing tailored assistance to companies in specific industries. For instance, Nanyang Polytechnic and Singapore Polytechnic focus on the retail and F&B sectors respectively. An example of an SME that Nanyang Polytechnic engaged is Thye Shan Medical Hall, a local Traditional Chinese Medicine company that sought to build its online presence for the first time. Students from Nanyang Polytechnic helped with the planning of product shots for the company’s listings on the 99% SME eMarketplace, and also developed content for the company’s social media sites. Participating SMEs benefit from the students’ guidance in technical areas like digital marketing and retail analytics, while the students develop an appreciation for entrepreneurship through interacting with entrepreneurs and businesses on the ground.

Working in Partnership with Various Stakeholders to Drive SME Digitalisation

3.    I am also happy that trade associations and chambers such as the Federation of Merchants’ Associations, Singapore (FMAS) and the Restaurant Association of Singapore (RAS) have thrown their weight behind the 99% SME campaign by encouraging participation among their members. As industry leaders, our trade associations and chambers have a key role in driving enterprise upgrading and industry transformation. I hope that more associations will step up to help identify industry pain points, aggregate needs and source for solutions in a scalable manner.

4.    The Government, too, has put in concerted effort to assist SMEs on their digitalisation journey. The $80 million SMEs Go Digital programme was announced at Budget 2017. SMEs can now access a listing of ready-to-go technology solutions on the Tech Depot hosted on the SME Portal. They can also approach any of the 12 SME Centres for advice on basic, pre-approved digital solutions supported by Government grants. Under the Professional Conversion Programme or PCP, SMEs can also receive subsidies of up to 90% to train and hire mid-career digital professionals making the switch into the retail industry. These individuals can assist the companies to formulate and implement an e-commerce strategy.

5.    “Small Becomes Mighty” is the tagline for the 99% SME Campaign. It is apt that today’s 99% Shopping Week launch is being held here in Toa Payoh, in the middle of our HDB heartlands. Regardless of size, and regardless of whether you have a shopfront in Orchard Road or Toa Payoh, it is important for all our SMEs to come on-board and continually upgrade to survive and thrive in the future economy. Let us continue to accelerate digitalisation among our SMEs, to enable even the smallest businesses in our heartlands to expand their customer base, grow their topline, and scale up. I believe that the collective efforts of all stakeholders will take us closer to realising the vision of the Retail Industry Transformation Map – an industry with a vibrant mix of highly-productive and omni-channel retailers, and local brand owners with global footprints, supported by a professional and skilled workforce.

Conclusion

6.    In closing, I would like to thank Singtel, DBS and their partners for organising this meaningful series of initiatives. I hope that Singaporeans will come out in full force to support our businesses during the 99% SME Shopping Week. I also look forward to seeing the 99% SME campaign continue building on its success for the growth of our SME community. Thank you.