Publication Type

Book Chapter

Version

publishedVersion

Publication Date

1-2021

Abstract

This chapter traces the growth and development of Small Medium Enterprises (SMEs) from post-independent Singapore in 1965 to its current day digital transformation age. Singapore’s SME landscape has evolved from one of low wage, low productivity entrepot trade, to supporting multi-national corporations, and transforming into the innovative, digital and agile enterprises of today. The four main challenges faced by SMEs are in human capital, internationalisation, innovation and financing, and dependency on government policies are highlighted. Moving ahead, digitalisation, and building TIEs that bind leveraging on Trust, Innovation and Internationalisation, and Entrepreneurship, will be key to propel the nation and family owned SMEs forward.

Keywords

Family firms, Financing, Human capital, Innovation, Internationalisation, Singapore SMEs, Succession

Discipline

Asian Studies | Entrepreneurial and Small Business Operations | Finance and Financial Management

Research Areas

Finance

Publication

Succession and Innovation in Asia’s Small-and-Medium-Sized Enterprises

Editor

Chung, H. M. & Au, K.

First Page

201

Last Page

242

ISBN

9789811590146

Identifier

10.1007/978-981-15-9015-3_7

Publisher

Springer

City or Country

Singapore

External URL

https://api.elsevier.com/content/abstract/scopus_id/85122744896

Additional URL

https://doi.org/10.1007/978-981-15-9015-3_7

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