A programme to fund multipliers like consulting firms and trade associations to hand-hold local enterprises in expanding their overseas footprint would help boost internationalisation efforts.
- Supporting enterprises to innovate, scale-up and find growth capital is vital to Singapore’s growth plan.
- In KPMG’s recent pre-Budget poll, 35% of respondents cited expansion outside Singapore as one of their top 3 business concerns over the next 3 years.
- 44% of respondents also indicated that better financial support for internationalisation as one of the top 3 areas in which local businesses required more Government support.
A programme to boost internationalisation could also include provision of co-funding or subsidies given to multipliers who are organising workshops and conferences, or travelling to support identified local enterprises in their internationalisation efforts.
To find out more about “what’s on SMEs’ wishlist for 2018, click here.