Greener pastures wanted: 1 in 2 SMEs looking to expand overseas, reveals study

56% are planning foreign ventures in the next 3 years.

In light of the tight economic conditions, more small and medium enterprises (SMEs) are now strengthening their internalisation plans to boost productivity and growth.

According to a survey by the Singapore Chinese Chamber of Commerce and Industry, 56% of SMEs planning to embark on their overseas ventures within the next 3 years.

“Currently, the most favoured overseas destination is Malaysia, followed by China and Indonesia. This is also the path successfully taken by many large corporations, and SMEs are now following their example,” noted SSCI President Thomas Chua in a speech at the 16th SMEs conference and 17th Infocomm Commerce Conference yesterday.

“In view of an increasing number of local enterprises investing in Iskandar Malaysia, the Chamber has established an Iskandar Network@SCCCi to share investment experiences and pertinent information, gather strengths through bringing like-minded business people together, and promote cooperation between the business communities on both sides of the Causeway. We cordially invite those who are interested to be part of the Iskandar Network to quickly register with us to tap on this new platform,” he added.