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SMEs get over S$500 million funding boost to go digital - starting with F&B and retail

Govt allotting over S$500 million to support transformation; observers say proper change management needed to ensure firms stay the course

Published Tue, May 26, 2020 · 09:50 PM

Covid-19

Singapore

THE Fortitude Budget's measures to support digital transformation may be able to give small and mid-sized enterprises (SMEs) that final push to digitalise, but experts say proper change management will be needed to ensure the firms can stay the course on digitalisation.

The government has allocated more than S$500 million to support digital transformation for SMEs, targeted first at the food and beverage (F&B) and retail sectors.