According to a study by the Ministry of Trade and Industry in 2019, firms that adopt digital tools enjoy more value and productivity, by 25% and 16%, respectively. The study also found that the adoption of digital tools is linked to an improvement in a firm’s performance.

The 2020 SMB Digital Transformation Study by Microsoft Singapore and The Association of Small & Medium Enterprise (ASME) revealed that Singapore SMBs remain optimistic about the impact digital transformation can bring to their bottom lines. SMBs in the midst of adopting digital initiatives predict their investments would deliver 23.5% in cost savings and 26.5% in revenue gains.

The COVID-19 pandemic has intensified the challenges that business face and has hastened the need for technology adoption to cope with the constant changes to the economy and business landscape. 

In 2017, the Infocomm Media Development Authority (IMDA) and Enterprise Singapore (ESG) launched the Small and Medium Enterprises (SMEs) Go Digital programmes. Since then, the programme has gone on to support over 63,000 SMBs.

One of the key programmes under the initiative is the Start Digital Pack, which targets new and smaller SMBs to adopt affordable and simple digital solutions. The programme offers the option of choosing two digital solutions across various categories: accounting, human resource management, digital marketing, digital transactions, and cybersecurity, with costs waived for six months or more once businesses sign up for a minimum 18-month contract. From 2019 to 2020, more than 30,000 SMBs have signed up for Start Digital.

In a bid to provide more support to SMBs during the COVID-19 pandemic, IMDA and EGS have since enhanced the Start Digital programme to include new digital solutions that will enable SMBs to collaborate seamlessly with internal and external parties and gain new customers.

The new and enhanced categories include: 

Supports employees working from home and aids businesses to keep pace with the constantly evolving business environment. Such tools include Microsoft 365, where familiar Office apps are hosted in the cloud, and Google Workspace, which seamlessly integrates work functions so employees can easily communicate and collaborate.

Tools that provide templates to generate social media advertisements and manage digital media buys on a single platform. This allows SMBs to easily manage targeted digital marketing campaigns and reach out to consumers on social media. An example is sendQuick, a web-based prepaid SMS solution that allows businesses to broadcast short messages to a targeted base instantly or by schedule. 

The introduction of InvoiceNow-linked solutions offered by bank partners that are integrated with e-payment. This includes PayNow Corporate to enable SMBs to create and/or receive invoices through InvoiceNow and to receive or make e-payments with greater ease. These digital transaction solutions will allow SMBs to improve their transaction accuracy and aid their administrative productivity.

Both e-invoicing and e-payments are part of digital utilities, which IMDA is putting in place as baseline infrastructure for the digital economy. These aim to provide common standards and simplifies business transactions.

While the adoption of technology brings about many business opportunities, it also brings about some challenges, of which the most pressing is related to security. Greater exposure to digital technology also means greater exposure to vulnerabilities such as cyberattacks. It is more important than ever before to have cybersecurity protection in place for your business.

These solutions take into account an SMBs needs and knowledge level. Requiring no IT expertise they are easily installed and ready for immediate use. Once running they protect your network, endpoint and email for low monthly subscription fee. Updates are automated meaning SMBs are always protected from new cyber-threats.

Businesses registered and incorporated in Singapore are eligible for Start Digital. There should be at least 30% local shareholding by Singapore citizens or PRs. The company must also have an annual turnover of not more than $100 million or employee size exceeding 200, at a group level. Businesses must also be first-time applicants of the programme.

To apply, simply choose one of the six recommended solution packs listed on Singtel’s Start Digital Programme page. Alternatively, you can pick and choose two digital solutions from the six categories.