When the government of Singapore instituted instituted Channel News Asia PM Lee's address on enhanced measures to deal with Covid-19 situation in Singapore Read more “circuit breaker” measures on 7 April, it sent the country’s businesses scrambling. The move essentially shuttered all businesses—outside of healthcare, groceries, and food and beverages—as the government sought to slow the spread of the Covid-19 Covid-19 The Ken Stories related to the pandemic Read more pandemic by instituting a virtual lockdown.
Online to survive
The Covid-19 inflection point for Singapore’s SMEs
Small- and medium-sized enterprises in Singapore have been reluctant to join the digital economy, despite the government’s best efforts. The pandemic might finally force companies to make the jump online
SMEs—companies with up to 200 employees—make up 99.5% of all Singaporean businesses
Before Covid-19 struck, just over a third of Singapore’s SMEs considered themselves ready for the digital economy
The government has introduced various grants and policies over the years in a bid to push SMEs to board the digital bus
After the pandemic forced the country into a virtual lockdown, companies are now scrambling to adopt digital solutions