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Introduction Of ICT Solutions For The Enhancement Of SME Sector

In order to transform Singapore into a global power, the improvement of infrastructure and productivity of small and medium enterprises (SMEs) is vital. More than simplifying the process of Company Registration Services In Singapore, the government has focused its efforts in providing support for SMEs to be poised for growth. Successfully implementing its plans for growth in 2013, the government continues to launch programmes and initiatives to improve and develop Singapore’s SME sector. This includes working with various trusted agencies in enhancing the skills and uplifting the quality of output of its workforce. Moreso, to help SMEs become more competitive and productive, the government encourages the implementation of ICT solutions.

ICT or Information, Communications and Technology has gained considerable importance in the last decade. The Infocomm Development Authority (IDA) is instrumental in achieving Singapore’s goals of modernisation and connectivity across different sectors of society through ICT solutions. It seeks to develop information technology and telecommunications service in Singapore. Responsible for coming up with ICT solutions to improve the performance of Singapore’s business industry, IDA initiated many schemes and programmes benefitting not only citizens but also companies regardless of sectors and sizes including education to health, tourism, manufacturing, commerce, hospitality and SMEs.

IPG Programme for 2014

In the budget speech of the Deputy Prime Minister Tharman Shanmugaratnam, he announced that the government has allocated $500 million to the ICT for Productivity and Growth (IPG) Programme. This shows the stern determination of the government to uplift the SME sector by adopting innovative ICT solutions. The main goal of the IPG Programme is to accelerate the growth and  productivity of SMEs by helping them adopt ICT-based sectoral productivity solutions, encouraging them to innovate and pilot emerging tech solutions, and by giving them access to high-speed connectivity.

To increase the application of proven ICT solutions. It is the responsibility of the Government of Singapore and IDA to enhance the acceptance of preferred ICT solutions for the growth of the SME sector. The Government has introduced ICT sectoral-based productivity solutions that have earlier improved the economical condition of the SMEs.

Advantages of ICT-based sectoral solutions to enhance productivity for the small and medium enterprises

Subsidies: The costs for the SME’s have been subsidised for around 70%. It makes it clear that the SME’s have to pay only 30% of the qualifying costs and provide quality products and services.

Pre-qualify vendors: IDA has introduced the policy of pre-qualified vendors that would help you to directly approach the vendors for the solutions.

Easy process: The Government of Singapore and IDA has made a comfortable process for SME’s to apply for the subsidy and directly deal with the vendors.

The benefits would be received by the SMEs who are open to adopt the best available ICT solutions that would help entrepreneurs to grow.

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