Over 15,000 enterprises persisted to raise productivity in 2020: ESG

Their productivity efforts are expected to catalyse $18.4b value in-add for Singapore.

Amidst the COVID-19 pandemic in 2020, more than 15,000 enterprises still persisted with projects that raised productivity, enhanced innovation, and pursued internalisation with support from Enterprise Singapore (ESG).

The efforts of those enterprises—comprising businesses from retail, wholesale trade, manufacturing, food services, and professional services sectors—are expected to mobilise $18.4b in value-add and 22,200 PMET jobs for Singapore.

Specifically, 14,800 enterprises commenced productivity improvements and capability upgrading projects in 2020, a 78% jump since 2019. Concurrently, 600 enterprises embarked on innovation projects.

Whilst internationalisation activities slowed last year due to global travel restrictions, the ESG reported that 1,600 enterprises still initiated internationalisation efforts through different forms.

The ESG also reported the expansion of the Global Innovation Alliance (GIA) network to Manila, Philippines and Shenzhen, China. The GIA network’s goal was to help enterprises as well as startups expand beyond Singapore.

Moreover, more than 2,100 startups gained benefit from the ESG’s Startup SG programmes and assistance from partners.