COTD: SMEs lead tech investments in Singapore

SMEs allocate 3% more of their budgets to tech investments compared to large companies.

SMEs are investing more in digital initiatives, allocating 11% of their budgets, compared to large companies, which allocate only 8%, the Singapore Business Federation (SBF) reported.

According to SBF, businesses have prioritised cloud services, with 69% already having invested, followed by e-payments at 62% and cybersecurity at 60%.

In addition, Artificial Intelligence (46%), Data Analytics (38%), and Internet of Things (31%) are other technologies that they plan to adopt in the next 12 months.

Meanwhile, when adopting new technologies, businesses are most challenged by high costs (73%) followed by expensive intellectual property (IP) licensing fees (47%), upskilling staff (47%), and a lack of awareness of suitable technologies (45%).

Follow the link for more news on

SME

Also Read

ValueMax Group hit by malware attack

Singapore emerges as world’s 2nd most expensive data centre market

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Institution of Engineers sets up new board to promote faster chartership registration

The board will also promote upskilling for engineering professionals.

Building & Engineering

Changi Airport Group boosts logistics capacity with new Nexus One facility

It will house two tenants including Expeditors.

Transport & Logistics

MoM underscores tripartite efforts to safeguard workers following Dyson layoffs

The ministry urges companies to work with unions.

HR & Education

Exclusives

Lorem Ipsum Singapore Business Review

The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.The text to display in the title bar of a visitor's web browser when they view this page. This meta tag may also be used as the title of the page when a visitor bookmarks or favorites this page, or as the page title in a search engine result. It is common to append 'Singapore Business Review' to the end of this, so the site's name is automatically added. It is recommended that the title is no greater than 55 - 65 characters long, including spaces.

22 hours ago

Secondhand furniture gains traction as Singaporeans embrace circular economy practices

Singaporeans saved 21,970 tonnes of carbon emissions by purchasing secondhand furniture.

Healthcare

Lorem Ipsum 2