DBS rolls out program to help SMEs expand abroad

The scheme targets 1,000 local firms and businesses across the region.

DBS has launched its Bridging Business Horizons programme to support the overseas expansion of small and medium enterprises (SMEs) and mid-sized firms in Singapore and across the region. 

The scheme aims to provide a one-stop solution for businesses expanding into new markets, starting with a batch of 1,000 Singapore and overseas companies.

The initiative not only leverages the bank’s regional presence but also takes advantage of the expertise offered by partner organisations like the Singapore Business Federation and aid from the government including  Enterprise Singapore, according to an announcement Monday.

Participating SMEs will undergo a series of networking sessions, insights sharing and workshops, among other things. DBS said in-market engagements could help businesses deepen their understanding and build relationships in target markets like China, Hong Kong, India and Indonesia.

“The Bridging Business Horizons programme takes these learnings and applies them in a structured, modular approach – with support from our partners – to help more companies effectively scale their operations,” said Koh Kar Siong, Group Head of Corporate and SME Banking, Institutional Banking at DBS.

Research showed more than half of Singapore businesses consider expanding overseas to growth their business.