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Spring Singapore:
Training to manage
While many small and medium sized enterprises (SMEs) are started by visionary leaders who built their businesses from the ground up through an enterprising spirit, hard work and sheer grit, business sustainability depends a lot on getting strong management teams with the right skill sets and business acumen.
To help in this area, Spring Singapore introduced the Advanced Management Programme (AMP) in January 2008, which is targeted at SME bosses and their senior management.
Some 200 SME bosses have signed up for the programme this year, a number which Spring describes as 'encouraging'.
Under the programme, Spring partners institutes of higher learning and leading corporations to run customised courses that range from executive MBAs to executive development programmes.
Ms Tong Shuh Lan, deputy director of business leadership at Spring, says: 'Spring's AMP is for SMEs seeking to build businesses that last.
'Such courses provide a platform to learn not only from professors and invited speakers comprising practice leaders and chief executive officers from successful companies, but also from one another as peers.
'In addition, the courses are conducted by faculty with global experiences. Some segments are conducted overseas and have participants from foreign SMEs or subsidiaries.
'This approach enables our SMEs to move outside the comfort zone. And for those who already ventured overseas, it provides them with more sophisticated tools in managing cross-cultural workforce, markets and operations.'
Ms Shann Sok Aixuan, director of Kingsland Development, says: 'The course I attended covered issues like internationalisation strategy, talent management and growth expansion strategy.
'I have learnt practical approaches to fine-tune my current business model. It also helped me reflect on my own leadership, and I could apply what I learnt in my business.'
IDA:
Focusing on key areas
SMEs looking at streamlining their work processes can turn to various schemes that the Infocomm Development Authority of Singapore (IDA) has in place for them under the Infocomm@SME programme launched in June 2007.
The programme focuses on three key areas:
-Educating SMEs on the value and possibilities of infocomm; -Providing SMEs with hassle-free and trusted access to infocomm; and -Making infocomm affordable to SMEs.
One recent initiative is the launch of the Accounting Software Assistance Scheme (ASAS) by IDA and Inland Revenue Authority of Singapore.
Under the scheme, eligible SMEs can enjoy subsidies for the cost of software and training expenditure. This scheme aims to help SMEs to improve their financial and bookkeeping practices.
IDA says its infocomm seminars and workshops have been well attended by SMEs.
Those keen on learning the knowhow of common infocomm business applications ' such as IP telephony, security software and updates of current technology trends - have also been visiting the SME Infocomm Resource Centres located at Singapore Polytechnic and the Singapore Chinese Chamber of Commerce & Industry.
IE Singapore:
Succeeding abroad
Expanding their businesses overseas has paid off for local SMEs.
Results from the DP SME Development Survey 2009 showed that almost half the SMEs that are actively involved in overseas operations reported turnovers of more than $50 million. Meanwhile, one in three SMEs that generated more than half of their turnover overseas are enjoying an annual average of more than 10 per cent growth in turnover.
International Enterprise (IE) Singapore - whose mission is to promote the overseas growth of Singapore-based enterprises - says the finding is consistent with its experience working with SMEs.
It has various schemes to help companies build up their key business capabilities in preparation for their overseas expansion.
One such scheme is the International Market Immersion Programme, which supports customised overseas immersion training of up to 18 months for local businesses.
Ms Khoo Wee Lin, deputy director of the capability development group at IE Singapore, says: 'One of the best ways for a company to equip staff with overseas market knowledge is through an immersion in the market where they can gain on-the-ground market knowledge so as to grow their business internationally.'
Another scheme, the International Partners Programme, is an initiative that catalyses the formation of international alliances between Singapore-based companies.
By banding together, they complement one another's strengths and leverage one another's reputation and branding.
Launched in October 2003, the programme has facilitated 35 alliances among 170 companies, which are projected to achieve $3.23 billion in overseas sales by 2011.
'The key difference between going alone and forming an alliance is the multiplier effect,' says Ms Khoo.
This article was first published in The Straits Times.
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