Singapore SMEs Triumph Against New Challenges

2022 sees the rising costs of raw materials and as the inflation rates soar and interest rates continue to rise, SMEs in Singapore managed to sustain their business and even displayed great resilience against the challenging environment.

The SME100 Awards makes its return to Singapore with over 400 Singaporean SMEs being nominated as businesses grasp at the opportunity for a stimulus to restarting and growing their businesses post-pandemic.

The SME100 Awards continues to adopt one of the most stringent evaluation criteria for all nominees. The five-step process included both qualitative and quantitative analysis, as well as a 100 percent interview requirement with a focus on growth (turnover, profit, and market share) and resilience (best practices, sustainability, and vision). Only 25 businesses emerged as winners of the SME100 Awards 2022 after going through this gruelling process.

“SMEs continue to be the first affected by a downward economic cycle, and are among the last to recover even as the economy recovers. The SME100 award recipients are among those that have demonstrated resilience, strength and growth despite the challenges.” said William Ng, group publisher and editor-in-chief of Business Media International.

On top of the prestigious SME100 Awards, the nominees are also able to compete to win the special category of Singapore’s Best Start-up which requires the business to be operating no older than 2 years and has shown superior growth and ability to navigate the challenging economic crisis through strategic planning and strong execution.

The SME100 Awards serves as a pinnacle of trust and a benchmark of reliability for business owners. Be it for business ventures or attracting investors and clients in both foreign and domestic markets alike, the SME100 Awards has become the beacon of attention on all platforms that matter across all industries.

Singapore is one of the four ASEAN member countries to organise SME100 Awards, besides Indonesia, Malaysia and Vietnam.

The official auditor of the SME100 Awards Singapore is Crowe Singapore with AmCham and Orchard Road Business Association being credited as supporting organisations.

2022 Singapore SME100 Award Winners (in alphabetical order):

For more information, please visit http://sme100.asia.