Enterprise Singapore (ESG) is a helpful government agency that makes your business grow and thrive. It gives full support to enterprises of all sizes and at all development stages, including SMEs and large companies.

SMEs can get help with improving their capabilities through various grants and programs. They can also have access to technology and research institutes.
ESG supports SMEs that expand overseas through grant funds, tax allowances, over 22 Free Trade Agreements, and more.
If you’re running a large corporation, you can receive assistance from Enterprise Singapore. It’ll help your business expand its global market reach and source new opportunities.
In this article, you’ll learn 6 ways in which Enterprise Singapore can boost your business growth.

1. Boost Productivity

Enterprise Singapore (ESG) has several effective ways of boosting your business’ productivity, such as:
* Automating your operations through the use of nifty technologies
* Digitizing your business by developing your digital prowess to attract new customers online
* Working with ESG partners to unlock limitless business opportunities
* Sharpening your workers’ skills through training to take your business to the highest level
Let’s dive into the link between digitization and productivity.
1. Digitization and Productivity
As ESG, we encourage firms to go digital. According to the Ministry of Trade & Industry of 2017, digital tools can supercharge your business’ value-add and productivity by an average of 25 %.
You can get the most out of digitization if you see it as an ongoing business change. Wondering how you can start? Start with small administrative and repetitive tasks outlined in the Start Digital Program by Info Media Development Authority and ESG.
The Start Digital program is useful for your enterprise as it:
* Shows you practical steps of how to digitize your operations
* Empowers you with several options for digitizing, e.g., human resources, accounting, inventory management, etc.
Here are suggested ways of digitizing your enterprise based on the Digital pack:
* Digital Marketing Solution involves broadening your customer base
* Digital Transaction is about streamlining your day-to-day transactions through the use of InvoiceNow and PayNow Solutions
* Digital Collaboration emphasizes teamwork as a PowerPoint for your business
* Digital Accounting involves automating financial transactions and bookkeeping
* HR Management System and Payroll to improve your operations and cut HR costs
* Cybersecurity focuses on protecting your valuable data
With HR functions, we can assist your enterprise in making them more effective but with minimized costs. Here are two handy ways of streamlining HR:
A. Essentials Workflow
* Allows your business to process workers’ leave and claims online. The system is easy to set up and doesn’t have a steep learning curve. You can save on time and costs.
* Digitizes your company’s leave and claim records
* Keeps any leave and claim policies up to date
* Can approve and reject leave and claim by email
* Creates a central system of your basic manual HR processes
B. Essentials Payslip
With this useful digital HR tool, you can generate payslips that meet the Ministry of Manpower’s guidelines.
Overall, digital tools can set up your business for success.
2. Increased Productivity through working with ESG partners
We teamed up with five trade associations and chambers to establish 5 major SME centers and 6 satellite centers. Our partners are business advisors, who are well-experienced and equipped with lots of industry knowledge.
You can expect to get these helpful services from SME centers:
* Book an appointment with business advisors to help you craft solutions to your pressing business challenges.
* Discuss practical ways to grow your enterprise
* Design workable solutions to improve HR, financing, productivity, and more
* Get up to date advice on using the right technology tools for your company

2. Enterprise Singapore Drives Your Business Innovation

Do you have any ground-breaking ideas that you believe can turn around the business? ESG is there for you. You can innovate with our partners and also co-fund your disruptive technology.
But before we partner with and support you in developing new technologies, note these crucial issues.
How to build a culture of open innovation in your business
* Attend to old-fashioned beliefs concerning innovation. Make your employees, especially top management understand that open innovation can be fruitful for the enterprise.
* Document your problem statement. Be specific about your technical problems and limitations. Create an innovation wish list to guide you in outsourcing necessary expertise.
* Go public with your innovation needs. Let relevant industries or people be aware of your tech needs. Use crowd-funding for novel ideas and inventions.
Enterprise Singapore has a valuable resource where you can mine creative ideas for your company. It’s called the Innovation Partner for Impact (IPI), a source of TechOffers and TechNeeds.
IPI brings business owners and innovators together online, making it easy to connect with tech gurus.
We also offer Open Innovation Services in partnership with agencies and people who’ve got the know-how in technology across different industries.
Your business can expect to receive these critical services:
A. Technology scouting- We want to understand your current innovation needs and then tailor-make tech tools or suggest tech ninjas that can work with you.
B. Technology Landscape Study- Our pundits will take an eagle’s eye view of your business environment. After careful scanning of the external issues, they’ll propose emerging innovations, giving your business a 360-degree turn.
C. Innovation Challenges-It’s a pool of innovative ideas and technologies. All shades of enterprises can mine ideas from this mine of knowledge.
Besides, ESG also holds a Business Excellence Conference every year. It’s packed with scalable and up-to-date industry solutions for businesses.
You wouldn’t want to miss the conference as it brings together global thought leaders and CEOs. They share thoughts on the trending management strategies.
Started in 1994, the Business Excellence Initiative aims to strengthen Singapore’s businesses and promote excellence. It has awarded certificates of excellence to plus 2000 organizations, boosting their image.
One brilliant thing about this initiative is that economic agencies and industry partners support it.
Please check out these worthwhile innovation suggestions that came out of the 2019 Business Excellence Conference.
1. Review your purpose often- In this age of fast-paced technology, accept disruption as unavoidable and the need to adapt to them. Ask yourself if your goals are a good match with your customers’ needs.
2. Innovate, Innovate- Tech changes mean that you need to move with the times but with cautious and well-planned steps. While not every innovation is right for your company, think outside the box and fine-tune your business strategy.
3. See disruption as an opportunity- Take disruptive tech tools as a chance to reimagine, reinvent, and set up a system that’ll make your clients happy.

3. Go Global

At Enterprise Singapore, we understand that businesses need to tap into the booming ASEAN market. With our Go Global initiative, we can jumpstart your foray into global markets in these helpful ways:
A. Research in-market opportunities- We’ve got plenty of resources and guides on imports/exports.
B. Building a robust foundation for global trade- ESG will check your business readiness and ability to take on the challenge of international trade. It’ll also equip you with practical methods to break into the market.
C. Explore in-market opportunities- As the saying goes, knowledge is power, especially if you put it to good use. Enterprise Singapore will empower you with market knowledge, link you with rewarding networks, and sharpen your go-to-market strategy.
D. Match with partners and projects- Foreign Trade may scare the wits out of you but wait, ESG will match you with reliable partners to grab your crucial deals.
E. Groom your talent- To help you navigate global business, you need a talented and skilled workforce. We’ll assist you with just that.
D. Co-fund your market expansion- Worried about how you’ll finance your overseas business? No stress, we’ve your back covered as you can secure finance for your business venture.
E. Leverage funding programs- Enterprise Singapore has lots of initiatives to expand your market.
We also work with other agencies to make sure that you hit the ground running in global trade.

Our Global Partners

1. SME Centers

We’ve already pointed out that we’ve got 5 SME centers to clasp your hand in finding global solutions to your business challenges. You’ll find a team of friendly and experienced advisors at our centers to diagnose your issues and suggest solutions.

2. Global Connect @ SBF

Its focus areas are South East, Central Asia, the Middle East, Africa & Eastern Europe.
Functions:
* Offers market insights and intelligence
* Enables you to enter global markets with ease by connecting you with intermediaries
* Matches you with other like-minded businesses & makes lead generation and operational set up less taxing.

3. SEC@Shangai and SEC@Chengdu

Focuses on China.
Functions:
* Offers market insights and intelligence
* Enables you to enter global markets with ease by connecting you with intermediaries
* Matches you with other like-minded businesses & makes lead generation and operational set up less taxing.

4. Singapore Indian Chamber of Commerce and Industry’s International Business Division

Its focus market is India.
Functions:
* Offers market insights and intelligence
* Enables you to enter global markets with ease by connecting you with intermediaries
* Matches you with other like-minded businesses & makes lead generation and operational set up less taxing.
You might also be wondering how you can break into the ASEAN market. Read on to discover more.
Your business has a wide variety of Free Trade Agreements that cater to the ASEAN region. You can tap into the ASEAN Free Trade Area (AFTA) and the ASEAN-China Free Trade Area (ACFTA) to enable your business to break into the ASEAN market.
ESG has prepared tools that’ll help you make the most of FTAs: Please see the resources below:
* Tariff Finder: With this dynamic tool, you can find out about duty savings through FTAs. It’ll also let you review Singapore’s trading partners’ rules and formalities.
* FTA outreach sessions: Here, the Ministry of Trade & Industry, Enterprise Singapore & Singapore Business Federation (SBF) have sessions to help your business with everything about FTAs.
* One-on-one FTA consultants with ESG and SBF. You can get personalized advisory services.
* Online and offline courses- ESG partners, including SBF and International Chamber of Commerce Academy, have courses to give you a good grasp of FTAs.
Here’s a bonus on this segment. The ASEAN population is 640 million with a GDP of $US 2,55 million, presenting a vast regional market for your enterprise.
Southeast Asia is expected to grow at 5.2% from 2018-2022 a year.

4. Enterprise Singapore Helps Your Logistics Grow

To give you a feel of the logistics in Singapore, note this statement. According to the World Bank’s Logistics Performance Index, Singapore is the second major logistics hub in Asia.
Businesses are familiar with Singapore’s efficient and organized logistics. Its logistics connects critical supply nodes to smoothen the domestic and international trade flow of goods.
If you’re thinking of setting up a business in Singapore, you won’t be let down. Singapore’s logistics companies have the know-how to support key industries, such as:
* Food
* Healthcare
* Pharmaceutical
* Oil & Gas
* Infrastructure & Construction
* Retail
* Electronics and High-tech
Enterprise Singapore offers several support systems and opportunities for your logistics business. Check out the resources below.

1. HIVE (Highly Interconnected & Vibrant E-Trade) freight forwarding platform

With this beneficial platform, you can connect with regional markets via freight forwarders, business partners, and customs agencies. You can also know the trade rules of more than 50 customs authorities worldwide with ease.
Another pro side is you’ll connect with plus 10 000 businesses in the ASEAN region through HIVE’s Partner Discovery Service. Also, with HIVE, you can get these services:
* Online freight booking
* Filling regulatory security filings
* Customs authorities in many countries, e.g., the U.S., Japan, Canada, etc.

2. Developing Talent

Enterprise Singapore has plenty of programs to upskill your workers to take up advanced logistics jobs. Please see these programs below.

1. Skills Framework for Logistics

It aims at identifying jobs, careers, and old and new logistical skills. The framework is made up of the following:
* The logistics sector and related info
* 6 career pathways
* Occupation and job responsibilities covering 85 technical skills and 18 genetic skills
* Training programs to upgrade skills

2. Training Programs to Upgrade Workers’ Skills

Your business can empower its workers with the latest skills in logistics to stay ahead of the game. Here are Workforce Singapore professional programs you can use.
1. Professional Conversion Program for Logistics
Mid-career PMETs can access the classroom and on-the-job training experience on logistics planning and operations.
2. Professional Conversion Program for Supply Chain Professionals
Equips your workers with solution design, data analytic & project management skills.
3. Professional Conversion Program for Southeast Asia Reality Talents
Prepares your staff for sales and marketing and product and supply chain management roles within the Southeast Asian Region.
5. Redeployment Professional Conversion Program for Supply Chain and Logistics Professionals
Focuses on reskilling and upskilling workers who’ve been laid off owing to tech changes in the economy.
Here’s a bonus for your enterprise. You can receive funding support from Workforce Singapore when you take part in these programs.
3. Logistics Industry Digital Plan
With the digital plan, you can take a plunge into the digital space without hitting rock bottom. It leads you to step by step on the digital solutions your company can adopt in all your growth stages.
Five digital plan solutions that can help you make real-time data-driven decisions include:
* Digital trade platform
* Supply chain analysis
* Efficient energy management
* Digital ledger technology in transportation
* Augmented reality (AR)/ virtual reality (VR) for training and operation

5. Enterprise Singapore Grows Your Wholesale Trade Business

Wholesale trade deals with business-to-business (B2B) buying and selling of goods. Singapore’s wholesale trade has more than 35 000 companies trading in commodities, industrial, and consumer products.
If you’re into wholesale trade, there are several effective ways in which ESG can jumpstart your business.

1. ASEAN Single Window (ASW)

ASW will benefit your enterprise in these ways:
* It’s a digital trade platform that allows you to clear customs at the speed of lighting when you trade with other member states.
* Releases your cargo at high speed and reduces regional trade costs
* Indonesia, Malaysia, Singapore, and Thailand use the digital trade platform, giving you access to a huge market.

2. Cross Border Cognitive Supply Chain Solution

* It’s an IMB created platform that connects 350, 000 trading partners, including Singapore, China, Indonesia, Thailand, and the U.S.
* As a member of this platform, you can automate customs declaration and move your cargo across borders with ease.

3. Industry Digital Plan for Wholesale Trade

Need practical advice on wholesale trade? You can use this plan that offers step-by-step advice on digital technologies to increase your productivity.

4. Networked Platform

* It’s another one-stop trade and logistics platform to clear your imports/exports
* You can access data tools to manage and share your digital documents with your business partners and customs authorities
* Allows you to manage trade permits and declaration

5. Start Digital

Start Digital, an IMDA & ESG initiative under the SMEs Go Digital program to help businesses adopt digital solutions to scale up production.
To sum up this part, here are some of the key sectors in Singapore’s wholesale trade.
* Agricultural Materials-Agriculture Raw Materials
* Agricultural Materials- Food & Beverage (F&B)
* Energy & Chemicals
* General Merchandise
* Household Goods
* Machinery & Equipment and Electronics

6. Enterprise Singapore Provides Handy Resources to Support Your Business Growth

With ESG’s helpful resources to support your business growth, you can’t go wrong. Please check them out below:

1. Companies Support

A. Enterprise Development Grant (EDG)
You’ll get support in three crucial areas, such as innovation, productivity, core capabilities, and global trade. Support covers up to 80% of qualifying costs.
B. Enterprise Financing Scheme (EFS)
* Offers business support in all growth stages to access finance
* Covers 6 different areas, including working capital, fixed assets, venture debt, trade projects & mergers, and acquisitions
* Loans will be raised from $5 to $8 million
C. Productivity Solutions Grant
You’ll have access to a range of practical solutions, such as IT solutions, equipment, and consultancy services. Support covers up to 80% of qualifying costs.
D. Business Grants Portal
It’s a one-stop portal that lets you apply for grants based on your needs. Your business can use this portal to apply for Market Readiness Assistance and Enterprise Development Grant.
E. SkillsFuture Enterprise Credit
If you invest in your workforce, this scheme will give you additional support.

2. Jobs and Skills

A. Skills Transfer Program
Under this program, you’ll get support when your business:
* Employs foreign specialists in Singapore to train local workers
* Sends local trainees to train overseas
* Supports local experts
B. Lean Enterprise Development Scheme
It’s a plan that’ll give you grants and foreign human resources support if you adopt projects to make your business efficient and lean.
C. Jobs Growth Incentive (JGI)
You’ll receive help if you hire a local, and the support is 25% on the first $5000 of gross monthly wages paid to all new local workers.

3. Market Expansion Overseas

A. Southeast Asia Manufacturing Alliance (SMA) & Economic Development Board (EDB)
Spearheaded by EDB, ESG, and other private sector partners, SAMA promotes industrial park networks to manufacturers. These producers must have an interest in investing in Singapore and the surrounding region.
How do you benefit as a manufacturer?
The alliance will help you grow your business in Southeast Asia. You can apply for several benefits, including:
* Identifying suppliers and matching services relevant to your business.
* Price lists from different logistics companies
* Support from Singapore solutions providers when you take part in the 4.0 pilot program
* Support for qualifying innovation activities that you carry out in Singapore
B. Global Innovation Alliance (GIA)
Your business will have access to international partners for co-innovation and market expansion.
C. Internationalization Finance Scheme for Non-Resources (IFS-NR)
It’s a scheme that provides up to $50 million for local and overseas development projects. But, to qualify for this program, your company must be based in Singapore, with its main functions in the country.
D. Free Trade Agreements
If you’re into international trade, you can enjoy Singapore’s free trade agreements. It’s ASEAN Free Trade Area (FTA) covers trade in products, investment, and services.
E. Double Tax Deduction for Internationalization (DTDi)
With this plan, you can get a 200% tax deduction on qualifying market expansion and investment development costs. But, it’s ESG or Singapore Tourism Board that’ll tell you if you qualify for the tax allowance.

The Bottom Line

Planning to invest in Singapore? You’ll hit the ground running as Enterprise Singapore is a resourceful and supportive government agency. With ESG, you’ll get all the necessary business support to thrive in the ASEAN booming market.
ESG will drive your business growth in many practical ways. It’ll also help your business expand in overseas markets by offering your enterprise various financing plans. You’ll also tap into its huge Free Trade Agreements, giving you endless business opportunities.

Sources

https://www.ipi-singapore.org/open-innovation-services g
https://www.enterprisesg.gov.sg/quality-standards/business-excellence
https://www.enterprisesg.gov.sg/-/media/esg/files/campaigns/keep-growing/go-global/go-global_brochure.pdf?la=en
https://form.gov.sg/#!/5f97742c47cbac0011f25db8 international kit

http://www.enterprisesg.gov.sg/fta FTAs

https://www.enterprisesg.gov.sg/non-financial-assistance/for-singapore-companies/free-trade-agreements/ftas/singapore-ftas/AFTA
https://www.sla.org.sg/hive/gets/aboutUs

https://www.enterprisesg.gov.sg/industries/type/logistics/develop-talent

https://www.imda.gov.sg/programme-listing/smes-go-digital/industry-digital-plans/logistics-idp logistics plan