Enterprise Singapore

Enterprise Singapore
Agency overview
Formed1 April 2018 (2018-04-01)
Preceding agencies
JurisdictionGovernment of Singapore
Headquarters230 Victoria Street, Level 10, Bugis Junction Office Tower, Singapore 188024
1 Fusionopolis Walk, #01-02 South Tower, Solaris Singapore 138628
Employees1400+[1]
Agency executives
Parent agencyMinistry of Trade and Industry
Websitewww.enterprisesg.gov.sg
Agency IDT18GB0001K

Enterprise Singapore (EnterpriseSG) is a government board formed on 1 April 2018 to support the development of Singapore's small and medium-sized enterprises (SMEs), upgrade their capabilities, foster innovation, support transformation, and promote internationalisation.[2][3] It is a statutory board under the Ministry of Trade and Industry of the Government of Singapore. It also supports the growth of Singapore as a trading and start-up hub, and continues to be the national standards and accreditation body.

History

Enterprise Singapore was formed through the merger of International Enterprise Singapore (IE) and SPRING Singapore. It integrates the functions of IE Singapore and SPRING Singapore.[4] SPRING Singapore was responsible for helping start-ups and SMEs in financing, capability and management development, technology, and innovation.[2] It also served as the national body for standards and accreditation, supporting companies in achieving international standards and conformity requirements.[5]

On 5 February 2018, Singapore's Parliament passed a bill to officiate the new, unified statutory board.[3]

Responsibilities

Developing the Trading Cluster

The agency works to attract global commodity traders to establish their global or Asian home base in Singapore.

Quality and Standards

Enterprise Singapore oversees the development and implementation of national standards for Singaporean enterprises. Through the industry-led Singapore Standards Council, it administers the Singapore Standardization Programme, which develops and promotes standards to meet industry needs and government policy objectives.[6] The Council consists of representatives of various stakeholders, including industry representatives, professional bodies, trade and consumer associations, academia, and government agencies. It develops consensus-based standards in Singapore and promotes them to be accepted and adopted by stakeholders.[7]

The agency is also the national accreditation body. Enterprise Singapore manages the Singapore Accreditation Council (SAC)[8] that looks at developing and managing accreditation schemes to support Singapore’s strategic initiatives such as market access, security, safety, and health.[9] It also manages the Good Laboratory Practice (GLP) Compliance Programme, which ensures that facilities’ operations and laboratory studies meet international standards. Studies conducted in Singapore under GLP-compliant conditions have been accepted in more than 30 OECD (Organization for Economic Co-operation and Development) and non-OECD countries.[10]

Support for businesses

Enterprise Singapore has different programmes for different types of businesses.

  • For start-ups, it partners with incubators, angel investors, and government agencies through a range of programmes managed by Startup SG.[11]
  • For small and medium enterprises, it provides assistance through various grants and programmes, as well as access to technology and research institutes. It also supports SMEs that expand overseas through tax deductions and grant funds.[11]
  • Enterprise Singapore also supports large corporations through initiatives such as the PACT programme, which facilitates joint projects with smaller companies.[11]

Internationalization efforts

Overseas markets

Enterprise Singapore maintains overseas centers in various markets to support the internationalization of Singaporean enterprise. There are 36 overseas centers in 21 countries, nine of which are in the People's Republic of China.[12]

Plug and Play Network

When it launched in 2018, the agency established a Plug and Play Network with nine partners across six countries.[13]

The network offers several services: conducting targeted market research, maintaining a global database for overseas partner matching, facilitating business connections between suppliers and distributors, and assisting with workspace solutions.[14]

Bilateral Business Forums

Business Forums are organised for delegates and officials from both Singapore and partner countries to discuss business partnership opportunities, domestic opportunities, business trends, and future directions. Thus far Enterprise Singapore has organized Business Forums with India,[15] Latin America,[16] Bangladesh,[17] Germany,[18] among others.

See also

References

  1. ^ "Enterprise Singapore Employee Directory".
  2. ^ a b Yahya, Yasmine (5 September 2017). "IE Singapore, Spring Singapore to merge to better help local firms go global". The Straits Times. Retrieved 1 April 2018.
  3. ^ a b Heng, Janice. "IE and Spring merger timely, given global changes: Iswaran". The Business Times. Retrieved 1 April 2018.
  4. ^ Chuang, Pek Ming (3 April 2018). "Enterprise Singapore: One-stop help hub". The Business Times. Retrieved 28 June 2018.
  5. ^ "ESG". Retrieved 28 June 2018.
  6. ^ "Singapore Standardisation Programme". Archived from the original on 2 August 2018. Retrieved 2 August 2018.
  7. ^ "Standards Development". Enterprise Singapore. Retrieved 2 August 2018.
  8. ^ "Accreditation". Enterprise Singapore. Retrieved 2 August 2018.
  9. ^ "Other accreditation schemes". Retrieved 2 August 2018.
  10. ^ "GLP Compliance Monitoring". Singapore Accreditation Council. Retrieved 2 August 2018.
  11. ^ a b c "Enterprise Singapore formed to grow stronger companies". Enterprise Singapore. Retrieved 2 August 2018.
  12. ^ "Overseas Centres | Enterprise Singapore". www.enterprisesg.gov.sg. Archived from the original on 2 August 2018. Retrieved 2 August 2018.
  13. ^ "Enterprise Singapore formed to grow stronger companies". Archived from the original on 2 August 2018. Retrieved 24 October 2024.
  14. ^ "Plug and Play Network". Enterprise Singapore. Archived from the original on 2 August 2018. Retrieved 24 October 2024.
  15. ^ "India-Singapore Business Forum promotes opportunities for holistic growth and partnership - Singapore Business Federation | Apex Business Chamber". www.sbf.org.sg. Retrieved 2 August 2018.
  16. ^ Luo, Stephanie (30 September 2017). "S'pore, Latin-American and Caribbean businesses in tie-ups". Enterprise Singapore. Retrieved 2 August 2018.
  17. ^ "Speech by Minister Lim at the Bangladesh-Singapore Business Forum". www.mti.gov.sg. Retrieved 2 August 2018.
  18. ^ Shiao, Vivien. "Singapore firms to partner German firms in manufacturing push". The Business Times. Retrieved 2 August 2018.
This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.