Singapore SMEs look to overseas expansion

13/04/2007  14:11:10

Small to medium sized enterprises (SMEs) and business start-ups
in Singapore are being encouraged to look to expand overseas.

The countrys minister of state for finance and transport, Lim Hwee Hua, said today that SMEs and company start-ups should take advantage of government funding and look to expand beyond the limited domestic sector, according to Channel News Asia.

Ms Hua stressed that despite there being "significant potential" for overseas expansion, recent figures had indicated that declining numbers of SMEs were touting their services abroad.

"SMEs should take advantage of government resources, such as IE Singapores International Partners programme, to form international alliances with other Singapore-based companies," she said.

"Such partnerships can achieve economies of scale and maximise chances of success for the SMEs in overseas markets."

A DP Information survey found that the number of Singapore-based SMEs with revenues from outside the country dropped to 59 per cent last year, from 69 per cent in 2005.

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