Business and workforce transformation in Singapore

Two new programmes offer SMEs the chance to push ahead with digitalisation to improve productivity, optimise operations and lower operation costs.
By: | September 30, 2022

Small and medium-sized enterprises (SMEs) in Singapore can now tap into programmes that focus on digitalisation. 

The first programme, called the Rapid and Immersive Skill Enhancement (Rise) for Business, caters to SMEs aiming to digitalise their businesses. The second programme, Rise 2.0, is for individuals who want to hone their digital skills and advance their careers and offers part-time classes to workers to provide flexibility. 

“If businesses do not transform, workers will not be motivated to go for reskilling… That is why business transformation and workforce transformation must go hand in hand,” said Chan Chun Sing, Singapore’s Education Minister.

Participants in Rise 2.0 can get up to 90% subsidy for the programmes, which are run by global consulting firm Boston Consulting Group (BCG) and SkillsFuture Singapore (SSG).

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The Rise business programme comes after a joint study by BCG and the Infocomm Media Development Authority (IMDA) found that over 60% of SMEs have yet to adopt digital technologies; less than 20% of large companies have also yet to adopt such technologies.

The programmes come amid a push for digitalisation in Singapore, which could help firms improve productivity, optimise operations and lower operation costs.