Singapore SMEs that export have the highest average revenue: survey
Small and medium-sized enterprises (SMEs) in Singapore that export to overseas markets generate the highest average annual exporting per-company-revenue of US$2.21 million compared with the global average of US$1.5 million, according to a global research study commissioned by FedEx Express.
The report, titled Global Trade in the Digital Economy: Opportunities for Small Businesses, noted that exporting revenues account for as much as 87 per cent of Singaporean SMEs' overall revenue.
Read further: The Business Times
Credentials & copyright: this article has been published by The Business Times and written by Vivian Shiao
Singaporean Grant System
Singaporean Government supports business expansion abroad
Get up to 70% of third party costs by Spring or IE Singapore!
Small and Medium Enterprises (SME Companies) play a significant role in the Singaporean economy. And to support SME companies, grants were introduced to support Singapore HQ based SME Companies to increase the success rate of their business activities.
There are many grants like the Capability Development Grant (CDG), Market Readiness Assistance (MRA) Grant, Global Partnership (GCP) Grant and International Marketing Activities Programme (iMAP).
In general Grants to support upgrading and improving capabilities (like the CDG) are offered by Spring. Grants supporting building business overseas are offered by IE Singapore.
The Annual SME Development Conference
DRIVERS OF FUTURE VALUE
Shifting Gears Toward Client-Centricity
The 14th annual SME Development Conference continuously seeks to supports Singapore SMEs’ development and growth needs by addressing current key challenges businesses face, in the midst of rising competition resulting in a loss of market share. It proposes initiatives and strategies for SMEs to shift their focus and embracing the concept of client-centricity by forgoing traditional product / business-driven strategies while adopting a more client-driven strategy.
Client-centricity seeks to understand the clients’ current needs and wants and ensure that businesses are equipped with the right strategies, processes and marketing initiatives to satisfy them. Client engagement and acquisition through branding efforts, customised services and advertising & promotional activities are increasingly part of businesses efforts in securing and retaining loyal clients, who are ultimately responsible for a company’s success.
Read further: http://www.dpevents.com.sg/
The Global SME Benchmark Study
Insights in barriers and opportunities expanding abroad
To learn from colleague entrepreneurs
The first edition of the Global SME Benchmark Study 2016 has been launched. 2Sherpa and 30+ supporting global partners have surveyed SME Companies across Asia, US and Europe to establish the state of business expansion abroad.
The Global SME Benchmark Study is an alliance of global organisations who share the vision and mission to gather more information how to let SME Companies grow. The Study aimed at giving insights of the barriers, challenges and opportunities SME Companies are facing when expanding abroad.
Read further for more information and to get your free copy of the Summary Report: https://www.2sherpa.com/global_sme_benchmark_report/
Top 25 Startup Influencers In Singapore
They are eager to help, advise and mentor the startups and entrepreneurs
Singapore’s startup ecosystem (10th best in the world) is growing by leap and bounds. Singapore has already emerged as a leading FinTech hub and the growth is here to stay.
We are fortunate to be a part of both FinTech and Startup ecosystems here in Singapore. Not only because we got a great opportunity to be a part of Finlab accelerator, but also we are being helped by a lot of great people outside. We’re working on to build a great product and an amazing company, and we always look out for awesome folks who could help, guide, advise and mentor us.
5 money saving benefits when defining and researching your new market in the right way
Do you really know your (new) target market?
Do you realise the benefits & positive side-effects you have?
Read further on this LinkedIn page: 5 Money saving benefits when defining and researching your new market in the right way
Two initiatives, one goal
Sustainable Business through Innovation
Growing societal and environmental issues in Southeast Asia need innovative entrepreneurial solutions. To address this need, Orange ASEAN was initiated by the Dutch Government in collaboration with the private sector and non-governmental partners. Orange ASEAN connects Dutch and ASEAN entrepreneurship to accelerate sustainable innovations.
2Sherpa is one of the partners of Orange ASEAN Factory. A team of Orange ASEAN investigated the possibility to add sustainability topics to the Ready2 Online Assessment Tools.
More information about this initiative: http://www.orangeasean.com/
Does the size of your company really matter to be successful entering a new (foreign) market?
Successful export? Start growing your business in a different way.
Innovations will help you out.
Sure, big capital can break into export markets, but success is not about how big your capital is, its how you use it. Get savvy, stay agile and leverage disruptive technologies to your advantage.
Do you want to know how you can start growing your business? Read further on this LinkedIn page: Successful export? Start growing your business in a different way. Innovative solutions help you out!
7 Steps to kickstart your market research & market entry for a successful export
Do you really know your foreign target market?
There are various ways you can conduct a market research. And there are 25 categories you can research how new foreign market looks like. Research which every company needs to do if they want to have a good start of their export activities and a market entry!
Do you want to now the 7 steps? Read further on this LinkedIn page: 7 Steps to kickstart your market research
Download this article to read further about the 7 tips: Article: 7 Steps to kickstart your market research
7 Steps to kickstart your market research & market entry for a successful export
Based on a checklist our co-founder Patrick Nelissen posted on LinkedIn (Ten Keys for a Successful Export) he decided to write an extra article about how to prepare your expansion abroad.
While your company may have an already established business in a local market, there is usually no reason why you could not compete successfully abroad and increase your revenues and profits. Many new markets abound that your company can gain entrance into.
But before you start exporting, you must have a solid understanding of the potential target markets available to your company or product. You should also research the suitability of your product for the foreign market you are targeting. Do you stand a chance in each target market? Are you well equipped with adequate resources? You must get the right answers and solutions to each of these crucial questions.
With the following 7 tips you are better prepared to enter the new market successfully!
Download this article to read further about the 7 tips: https://app.box.com/marketreadiness
Ten Keys for a Successful Export
There a many possibilities to expand abroad. But are you ready?
Determining whether your company is ready to start expanding abroad is crucial. According to one of the studies from the International Marketing Review 90% of the companies aren't prepared enough. The outcome: disappointing results or even withdrawal from the foreign country. And considering that starting up business abroad will cost between US$ 100,000 - US$ 400,000... That's a lot of money wasted...
To give you a kickstart, a comprehensive checklist for your business to do a first check whether you are ready or not.
Read further on LinkedIn: LinkedIn Post: Ten Keys for a Successful Export
Or download this article to read further about the 10 Steps and feel free to share this article:Ten Keys for a Successful Export[
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