Companies don't have to follow the Industry Transformation Maps (ITMs) like templates but they should take steps to transform themselves, especially with the help of technology.
NTUC's U SME Advisor and Senior Minister of State (SMS) for Communications and Information and Health Chee Hong Tat added that the Government will assess small- and medium-sized enterprises (SME) bosses’ needs on a case-by-case basis and come up with solutions to meet them.
He shared this at the U SME's post-Budget dialogue on 23 March 2018 with some 80 partners.
At the session, held at NTUC auditorium and facilitated by NTUC Assistant Director-General (ADG) Yeo Guat Kwang, SMS Chee said that the Budget and ITMs are broad roadmaps to tackling long-term challenges.
Finding a Competitive Edge
One key point raised during the dialogue was internationalisation, which often comes with legislative, cultural and communication challenges.
To overcome them and compete with other cities, SMS Chee urged attendees to leverage Singapore’s strengths.
“How do you beat some of these countries with more land, cheaper labour? You cannot beat them no matter what you do.
“But, what is it that we can do, that they cannot do? That is the question we need to ask ourselves.”
As examples, SMS Chee shared about Singapore’s good branding in quality and security, physical and digital connectivity, as well as hunger for skilled talent.
He commented: “I’m not pessimistic because I think increasingly people will place more emphasis in some of these areas.”
Friendlier Public Service
Answering questions on whether the public service is also transforming itself, SMS Chee said that actions to reshape processes and promote a pro-business mindset are already underway.
He invited anyone with regulatory concerns to write in to the Pro-Enterprise Panel. He is currently working with Minister Ong Ye Kung and Senior Minister of State Dr Koh Poh Koon to encourage innovation within the public sector through the initiative.
He promised that the Government will seriously consider and respond to all requests to review existing rules or gain access to the Government’s technological infrastructure.
Closing the dialogue, ADG Yeo said that the Government and Labour Movement are committed to make true U SME’s mantra – every SME a better SME, every SME job a better job, every SME worker a better worker.
With SMS Chee’s involvement, both parties will now work closer to provide greater support to SMEs. U SME is looking into ready-to-go solutions to help respective sectors drive their business transformation progressively.
