spring singapore's year-in-review

SPRING

SINGAPORE’S

YEAR-IN-REVIEW Positioning Enterprises

for the Future

6 February 2015

Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 2

Global economy growth was

uneven and lacklustre in 2014


23%

31%

45%

48%

49%

Uncertain Global Economic …

High Rental Costs

Increasing Competition

High Manpower Costs

Difficulty in Hiring Staff

Top 5 Business Concerns

Source: DP Info SME Development Survey 2014

Labour Constraints & Rising Business Costs Key Concerns of SMEs

Restructuring journey continues,

with more coming on board…

20%

20%

32%

50%

51%

Raise Productivity Through IT Investment or …

Expand Overseas Market Presence

Enhance Products and Services Offered

Expand Production Capacity

Relook Business Model

Top 5 SME Business Strategies

Source: DP Info SME Development Survey 2014

More SMEs Coming On Board


More are looking for ways to

improve productivity and grow…

Improving Productivity

Invest in Innovation

Explore New Markets

84%

90%

% of SMEs Embarked

on Productivity

Source: SCCCI SME Survey 2014

% of Local SMEs R&D Exp

as % of Sales Revenue

Source: : A*STAR, National R&D

Survey of Singapore, 2004-2013

46%

50%

% of SMEs with Income

from Overseas

Source: DP Info SME

Development Survey 2014

20

13

20

14

2013

2014

4.7%

5.7%

6.6%

5.4%

8.8% 8.1%

7.5%

'07 '08 '09 '10 '11 '12 '13


In 2014, we continued to support

SMEs to restructure …

Be

Competitive

& Productive

Find

Growth

Opportunities

Get Help &

Support More

Easily

Build

Capabilities

Leverage Innovation,

Internationalisation,

New Growth Areas

Enhance Accessibility,

Increase Outreach


Be

Competitive

& Productive

Build

Capabilities


We help SMEs attract and

develop talent…

Keystone Cable (S) Pte Ltd

Manufacturer of power cables and wires

Tailored

career

paths

Successfully attracted four STP candidates

Strong

talent

pipeline

supporting

growth

Skills mastery

through

senior

management

mentorship

http://bit.ly/smetalentprog


…and uplifted productivity of micro

and small enterprises through ICV

Enhanced

Innovation &

Capability

Voucher

Consultancy

Projects

Productivity

Solutions

Equipment

& Hardware

Technical

Solutions &

Training

Design &

Renovation

~9,700

Vouchers

Awarded


… to build strong processes to

improve productivity

Nature Vegetarian Restaurant Pte Ltd

Restaurant serving vegetarian food

Tapped on ICV solutions for POS Wireless Paging

System that allows customers to page waiters

Enabled staff

to focus on

other work

areas Reduced

manpower

required by up

to 40%

Enhanced

customer

experience

5%

increase in

sales


We partner associations to help industries

and enterprises restructure and grow …

Large scale Productivity Initiatives

Multiply Innovation Opportunities

Identify & Enter New Markets

http://www.ras.org.sg/index.html


Find

Growth

Opportunities

Leverage

Innovation,

Internationalisation,

& New Growth Areas


Through innovation to develop new

products, services and solutions…

1Rwave LLP

Wireless electronics design company specialising in

active RFID solutions

Worked with the Centre of Innovation for Electronics to

develop Active Tracking Tag for monitoring patient movements

Increased

patient

safety Secured

deals with

major

hospitals

Patient

movement

analytics


…and target new customer

segments to grow top line Luzerne Pte Ltd

Manufacturer and B2B distributor of new bone

ceramic tableware

Developed a retail concept store to extend

product range to consumers

20%

projected

Y-o-Y

revenue

growth

Launched first

“shop-in-

shop” concept

in Metro

Centrepoint


Support international growth by pursuing

quality & excellence in products & services…

Supported

400 enterprises to

adopt standards

Plugged into international developments

Enhanced accreditation

network through MOUs

with various countries

https://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=https://www.freevectormaps.com/singapore/SG-EPS-01-0001&ei=zrG4VJ6RJ4OQuQTToILgAQ&bvm=bv.83829542,d.c2E&psig=AFQjCNE0kcmv2k1wIXMA-lnbBhNXSqXCSg&ust=1421476668918535

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.spring.gov.sg/QualityStandards/Std/Pages/standards-council-standards-development-organisations.aspx&ei=brO4VIQghZa4BJDJgugJ&bvm=bv.83829542,d.c2E&psig=AFQjCNH2FqVIEALbAxiCnzGTx4Xm4ilSig&ust=1421477063792836


… and greater access to new markets

through standards adoption

Seng Heng Engineering

Manufacturer of high quality critical bolts and nuts

for the niche subsea industry

10% Y-o-Y

revenue

growth

Adopted API Q1 certification to gain more international

credibility and meet stringent quality requirements

1 of 10 global

fastener

companies

worldwide to be

certified API Q1

10 – 20%

increase in

sales orders

20 – 30%

projected

market share

increase

Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore.

Enhanced product design and manufacturing

capabilities through merger and acquisition

16

We help our enterprises find new

growth opportunities…

XMH Holdings Ltd

Diesel engine, propulsion and power generating

solutions provider

Cater to

expanded

customer

base Acquisition

expected to

contribute to

revenue

growth

Reduce

reliance on

external

suppliers

Strategic

deepening of

capabilities

through

inorganic

growth


…or grow through collaboration with

partners

Working with 40 local SMEs

in the area of wearables and

wireless communication

with applications to

healthcare and cleantech

sectors

Working with 4 local SMEs to

develop a Smart Elderly

Monitoring and Alert System

to monitor safety of elderly


We help industries take advantage of

upcoming trends and technologies

400 enterprises supported through 7 Centres of

Innovation & 3 Private Sector Translators

Internet of Things (IoT)

Additive Manufacturing

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.iptec.com.sg/corporateProfile.html&ei=b6y4VIToDJK9ugTF1IGQBA&bvm=bv.83829542,d.c2E&psig=AFQjCNFTfXVQkXOclI1uMdYUXdavQv-6hw&ust=1421475280958255

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.aitbiotech.com/&ei=0Ky4VIqNI9DbuQS8-4GoCg&bvm=bv.83829542,d.c2E&psig=AFQjCNFZP_9dKQuUgU5yJ7ctWJhaaTVjLg&ust=1421475404109422

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.battelleventures.com/portfolio_360.html&ei=Ba24VMrPAoqPuAS63YH4Bg&bvm=bv.83829542,d.c2E&psig=AFQjCNGBBRxmcvb_n_jNByiXUfXNr9d4wA&ust=1421475456280973


We support the growth journey of

start-ups…

START SCALE SOAR Launched Privatised

Action Community for

Entrepreneurship (ACE)

Facilitated creation

of Launchpad@

One-North

Facilitated 40

collaborations between

start-ups and large

companies

Strengthened financing

options for start-ups by

appointing 2 new

accelerators

• Zicom Medtech

• Med Tech Alliance

Helped high-potential

start-ups enter new

markets

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://flags.redpixart.com/united_states_of_america/round_icon/&ei=bMK4VPakCMKyuATx2ICAAg&bvm=bv.83829542,d.c2E&psig=AFQjCNGIVu4-UNJnu1t1JlhskyFZusX0FQ&ust=1421480924391839

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://flags.redpixart.com/hong_kong/round_icon/&ei=kcK4VNG-CIuVuATV0oDoDg&bvm=bv.83829542,d.c2E&psig=AFQjCNE_3JDvrXTDIJJ_g3rcjBYQ9UemkA&ust=1421480971197219

http://www.google.com.sg/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://flags.redpixart.com/republic_of_china/round_icon/&ei=vcK4VMqGCJSouQT8i4HQCA&bvm=bv.83829542,d.c2E&psig=AFQjCNH4CkoYz2YzGrvjkTm8f6HCJyO0Sg&ust=1421480996924663


20

… for start-ups to gain Scale and Soar

Clearbridge Biophotonics

Imaging solutions company

High

resolution,

wide field-of-

view

microscope

Worked with Clearbridge Accelerator under the Sector Specific

Accelerator initiative to develop the FourierScope

Cost-effective

and scalable

products Invested funds

to further

hardware and

clinical

development


Get Help &

Support More

Easily

Enhance Accessibility

& Increase Outreach


• Online portal for Capability

Development Grant (CDG)

• Grant Appeal Advisory Panel

• Enhanced Micro Loan

Programme

• 20% cash advancement for

CDG recipients

22

SMEs can better reach us…

Enhanced Accessibility Increased Outreach

• 36,000 enterprises reached by

12 SME Centres

• Increased capabilities of business

advisors at SME Centres


…And get the help and support

they need

Bok Sing Hardware Paints Pte Ltd

Industrial hardware and solutions company

Assisted by SME Centre@SouthWest to conduct business

assessment and identify new ways to increase revenue

Gained

overseas

customers

from trade

fair

20%

increase in

revenue

Enhanced

productivity

through new

inventory

system Introduced

new staff

incentive

system


In 2014, we helped SMEs on their

restructuring journey

Enterprises Supported

9,000 Committed Value-Added

S$8 bil New Jobs to be Created

22,000

Enterprises

tapped on

CDG

>1,000

Enterprises

tapped on

ICV

>7,000

Innovative

start-ups

supported

>160

Enterprises

reached*

>160,000

~90% Supported are

micro & small

enterprises

*Non-unique


Looking ahead into 2015

Pursue

growth

opportunities

Enhance outreach

and support for

SMEs

Continue focus on

productivity to

increase

competitiveness

Strongly support SMEs during this period

SPRING

SINGAPORE’S

YEAR-IN-REVIEW Positioning Enterprises

for the Future

6 February 2015

spring singapore's year-in-review

Small Business & Entrepreneurship

spring singapore officers

prior written consent

spring singapores year

productivity source

board information

outreach information

dp info sme development

sme business strategies