Three small and medium enterprises (SMEs) have each received an advertising grant of SG$100,000 from Mediacorp for getting the most number of likes on Toggle since June 2017. The businesses are Cat & The Fiddle cake shop, On Cheong jewellery shop and San Seng household goods wholesaler.
This was revealed during the launch of 99% SME Shopping Week which aims to give SMEs a boost and rally support for them, of which Mediacorp came in as an official media partner. This yearâ€™s event, supported by Singtel and DBS, drew a record of more than 5,500 SMEs, more than double of last yearâ€™s figure of 2,600, the press statement read.
Andrew Lim, managing director, business group, group enterprise at Singtel, said that the growing interest of SMEs to embrace digitalisation reflects the importance of transforming brick-and-mortar enterprises. This comes as traditional businesses face the risk of getting disrupted by innovative technologies.
â€śThrough the event, SMEs can leverage the marketing resources of the 99% SME movement partners and experience the benefit of going online to complement their brick-and-mortar stores,â€ť Lim added.
Joyce Tee, group head of SME Banking, DBS Bank, added that SMEs are the backbone of the Singapore economy. They are always inspired to innovate for practical reasons as consumption patterns change.
â€śIn recent years, they have been adopting e-commerce and cashless payment solutions to offer their shoppers greater ease of payment and a better shopping experience. DBS is delighted to help SMEs widen their customer reach by co-marketing their products and services to the Bankâ€™s customers,â€ť Tee explained.
The 99% SME Shopping Week is organised by the 99% SME movement, co-founded by Singtel and DBS. Since its inception in 2015, the movement has garnered traction from partners such as AXA Insurance, Brother, Far East, Google, Huawei, Lazada, Mastercard and Samsung. The group also counts SPRING Singapore, industry associations, grassroots organisations and polytechnic schools among its supporters.
The event also involves a year-long series of initiatives to help SMEs transform and digitalise their operations. For example, Singtel partnered Temasek Polytechnic to help SMEs in traditional trades go online and use digital technology. The telco also partnered Nanyang Polytechnic – Singapore Institute of Retail Studies (SIRS) to help SMEs hire digital professionals. In addition, Singtel has partnered online retailer Lazada to create the 99% SME e-marketplace for SMEs to engage in e-commerce. The movement saw about 400 SMEs registering on the e-marketplace.