No matter their size, Singapore companies need help to digitise their businesses, adopt innovations and venture overseas, several MPs said in Parliament yesterday.
Citing his recent visits to small businesses such as florists, dry goods packaging firms and chwee kueh manufacturers, Mr Teo said many small businesses do not know the"winning formula" to move away from their labour-intensive processes. But this should not stop the push towards technology, he added, as he asked MTI to share its plans on how it intends to bolster local enterprises.
Replying, Senior Minister of State for Trade and Industry Chee Hong Tat said the Government cannot pretend to know what each firm needs, and businesses cannot start their transformation journey by asking what grants are available.
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