Is there any program supporting SMEs in ASEAN?

SMEs are an important part of Singapore’s and ASEAN’s economy. In ASEAN they account for more than 96% of all enterprises and 50% to 85% of employment. SMEs’ contribution to Singapore’s GDP is between 30% and 53%. SMEs’ contribution to Singapore’s exports is between 19% and 31%. SMEs are important for income and employment generation, gender and youth empowerment through business participation, and their widespread presence in non-urban and less developed domestic regions.

ASEAN SME Working Group (SMEWG): The ASEAN SMEWG aims to create a good policy environment for SME development in the region. It does this through formulating policies, programmes, and initiatives to build SMEs’ capabilities and capacity. Some examples of projects conducted by the ASEAN SMEWG are:

• Directory of Innovative SMEs: Profiles SMEs at the ASEAN level and showcases their innovative products and services regionally.
• ASEAN Business Incubator Network: Enables local incubators to link local start-ups with overseas incubators for opportunities to enter new markets overseas.
• ASEAN SME Showcase and Conference: SMEs can use tradeshows to showcase their products, services, and technologies for networking and business matching opportunities.
• ASEAN SME Service Center: A web-based portal (www.aseansme.org) that aims to be a one-stop service center for SMEs. It integrates SME services from various AMS. Information available on the website includes SME-related news from across the region, ASEAN FTAs, and linkages to SME service providers.