MAS urges Singapore retailers to hop on e-commerce train for growth

SINGAPORE'S subdued retail sector can take a leaf out of the playbook of the manufacturing sector, which has harnessed technological advancements to benefit from the latest upswing in global...

Company lied about workers to get PIC grant

A firm dealing in the sale and distribution of robotic ice-cream kiosks invested in the development of the machine and applied for a government...

No Signboard Seafood launches vending machine cluster in Tampines

SINGAPORE - The mamak shop - a convenience store found in the void deck of many Housing Board flats - has gone high tech.

Money

Helping SMEs tap Asia's boom in infrastructure

Asia is in dire need of more roads, railways and utility plants, and that means opportunities for Singapore companies in the lucrative...

Crowdfunding platform MoolahSense launches invoice financing service

SINGAPORE - Crowdfunding platform MoolahSense has launched an invoice financing service, to help small and medium-sized enterprises (SMEs) looking to raise short-term financing of more than $15,...

Tapping the VC opportunity

SINGAPORE'S 2017 Budget, which built on the recommendations of the Committee of the Future Economy, has sounded the clarion call for businesses here to upgrade their capabilities, upskill their...

Videos

Garena's Nick Nash: The state of start-ups in SEA

Rather than have start-ups die, they should merge and build together, says Nick Nash, Group President of Garena.

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Editor's Pick

Budget 2017 - Which announcements should a small company be looking at?

I haven't had time to dig into the details of Budget 2017. Which of the measures announced should a small company like mine be exploring further?...
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Expert’s Take

Chiu Wu Hong
Head of Tax at KPMG in Singapore

There are two key areas which came out of Budget 2017 of relevance to SMEs. The first is the need to go digital, and the second to internationalise.

Local enterprises seeking to adopt digital solutions may explore IMDA’s SME Go Digital Programme, which can defray 70% of technology cost up to a cap of $300,000. An SME Digital Tech Hub will be set up by September to provide consultancy and advice to SMEs.

Companies looking to internationalise can look forward to tap on the International Partnership Fund, which will be managed by Heliconia Capital Management. This fund aims to help companies better access Asian markets through regional acquisitions. IE Singapore’s Internationalisation Finance Scheme has also been enhanced to allow companies to have access to financing for regional infrastructure projects.

Companies with strong focus on technology and innovation should also explore the new Intellectual Property Development Incentive administered by EDB. The tax incentive allows qualifying income derived from the commercialisation of IP to be taxed at a lower rate than the existing corporate income tax rate of 17%.

Lastly, companies can benefit from the broad-based corporate income tax rebate, which offers a 50% rebate rate for the year of assessment 2017, capped at $25,000. In the year of assessment 2018, the rebate rate will be 20%, capped at $10,000.

SME Interviews

Local engineering firm works with MNC to automate making of baby wipes

While small and medium-sized enterprises (SMEs) may often view multinationals as unrelenting heavyweight competitors, collaborations between the...

Wander aims to put 'social' back in social media

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Government

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OVER the last eight years, I've been lucky enough to see Singapore's evolving landscape as a test bed for new technologies. Earlier this year, I...

Singapore's soft labour market curbs inflation; external outlook brightens: MAS

A SOFT labour market, downbeat consumer sentiment and uneven domestic growth are curbing price increases in Singapore, said its central bank, adding that unemployment rates may rise slightly this...

A*Star to set up two model plants as test beds for new tech and innovation

The research agency's Tech Access scheme will provide companies, particularly SMEs, with access to A*Star's base of advanced manufacturing facilities so that they can build expertise through the...

Economy

Singapore services sector's business sentiment improves for next 6 months

BUSINESS sentiment in Singapore's services sector for the next six months has improved, based on data from the Department of Statistics Singapore.