Saturday, November 28, 2020
The Fourth Industrial Revolution did not end with the Covid-19 pandemic. Rather, the coronavirus has merely accelerated it. Digital adoption and transformation rates skyrocketed as businesses, especially SMEs, scrambled to adapt to the changing economic landscape. Above all else, it was Singapore’s SMEs that digitalised their businesses and leveraged data...
The global aviation industry has been among the hardest hit business sectors amidst the Covid-19 pandemic. As nations wen into lockdown earlier this year, international travel ground to a halt, with only the most crucial travel being allowed. Domestic flights fared no better as governments worked to contain the...
Local food produce suppliers in Singapore will continue to benefit from shortened payment terms and promotion of their products. The scheme, which was introduced by Singaporean supermarket chain, FairPrice, doubled its support to S$2 million and widened its eligibility criteria in order to help SMEs stay afloat. In addition to...
By the Inland Revenue Authority of Singapore Corporate tax filing season has begun and all companies, including those that did not carry on business or have incurred a loss, must e-File their Year of Assessment (YA) 2020 Income Tax Returns (Form C-S/ C) at mytax.iras.gov.sg  by 15 Dec 2020. e-File...
Recently, OneSME, a cross-border digital trade platform for SMEs in Singapore and China, was launched in order to facilitate trade more easily between SMEs of the two nations. OneSME will connect business-to-business (B2B) platforms in the two countries to help local SMEs expand their overseas reach and tap significant demand...
Hotels are mostly associated with the tourism industry. Therefore, when the COVID-19 pandemic hit, everyone was talking about how hard tourism and hotels have been hit economically. However, the challenges being faced by the events and wedding industry have not been getting as much attention. Recently, wedding planners and venue...
HSBC has recently announced that it has closed the first receivables financing deal on Singapore’s Networked Trade Platform (NTP), setting the foundations for SMEs to access funding in as quick as 15 minutes, down from a day traditionally. The NTP, launched by the government in 2018, is a platform which...
Even the most stubborn and traditional businesses are being forced to consider their digital options as COVID-19 continues to turn the global economy on its head. Companies in Japan and Singapore in particular are looking to beef up their digital talent as they move their operations online. Even before the...
In 2020, Amazon has been one of many large corporations who have provided support to thousands of local retailers and helped many of them to build thriving businesses by selling on their Amazon.sg; and is keen to do more. Now, local retailers selling on Amazon.sg who meet the eligibility criteria...
It has been announced that Singaporeans who are aged 18 and above this year will each receive S$100 in digital vouchers to spend on staycations, tickets to leisure attractions, and local tours in order to help stimulate the local tourist industry. The SingapoRediscovers Vouchers will be accessible via SingPass from...
Singapore’s privacy regulator imposed a S$10,000 (US$7,311) penalty on ride-hailing company GrabCar for a personal-data breach incident last year and raised the alarm on repeated violations. In August 2019, an update of Grab’s mobile application exposed the personal data of more than 21,500 users to the risk of unauthorized access,...

Shop Local, Online

It’s well known that shopping locally helps the economy. But how exactly does it help? Principally, local SMEs help the economy by introducing a multiplier effect. They are often owned and staffed by locals, where their earnings will flow back into the economy. But more than that, local businesses will...