Singapore small and medium businesses struggle in digital transformation

Moving up the digital transformation ladder remains challenging for Singapore small and medium businesses. The adoption rate of digital technology has increased for small businesses with 99% of companies adopting at least the most basic level of digital technologies such as office productivity tools and web-based email, according to the 2020 SME Digital Transformation Study by Microsoft Singapore and the Association of Small & Medium Enterprises (ASME), which surveyed 400 business owners and key IT decision makers in Singapore small and medium businesses. Small and medium businesses make up 99% of all Singapore businesses, the government statistics agency reports. Medium businesses are defned as those making between S$10 million and S$100 million in revenues a year; small business make less than S$10 million.

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(Insider Story)