Both Australia and Singapore are markets where SMEs and Startups make up a large percentage of the business community. In Australia, businesses with less than 20 employees, account for almost 98% of all businesses. Meanwhile, Singapore is considered amongst the top in the world for start-up talent and has one of the fastest growing start-up communities globally. According to Singapore’s Economic Development Board, today there are more than 55,000 registered startups operating in Singapore (EDB 2020).
A common experience faced by SMEs and Startups in both markets are inherent challenges when it comes to sustainable growth and scalability of a business, particularly in terms of internationalisation and exporting. To help overcome many of these challenges, AustCham’s SME & Startup Group will seek to create an accessible forum whereby members can actively reach out and share about their current challenges and in turn receive valuable and timely advice and support from other members in the form of contacts, knowledge and expertise.
In the Group’s first two virtual networking sessions held on the 20th August and 1st October 2020, it was quickly identified that key topics of interest for participants ranged from information on grants, incentives and schemes available for SMEs & Startups to leverage between Australia & Singapore; insights and sharing on best practices from recruitment, sales, marketing, technology and governance to training and development; to advice on expansion across the wider South East Asia Region. During the networking sessions it was also encouraging to witness participants sharing a willingness to support each other in terms of mentorships, providing investment or feedback on prototypes and MVP to sharing market intelligence and personal tips and tricks to life in Singapore. The first two sessions have signalled a promising start to this new initiative.
Finally, participation in the group also provide members with the unique opportunity to have their voice heard on particular issues governing bilateral trade relations between Australia and Singapore such as helping to lobby for a Travel Business Corridor between Australia and Singapore.
Membership is currently free to join the AustCham SME & Startup Group. Register your interest to join here
Acceptance into the group will be pending satisfaction of one of the above member categories.
- Singapore SMES & Startups with Australian staff conducting business in Singapore
- Aussie Startups & SMEs based in Australia with an interest to expand into Singapore or doing business in Singapore
- Singapore SMEs & Startups looking to connect with Australian businesses or to expand into Australia
The Group is also looking for additional Committee Members. This is open to current AustCham Members who can register their interest here
by 31st October 2020