Times are hard, we all know that – Businessman all know that, employees all know that and Government knew that too. According to Straits Times article,The Singapore economy could sink into a technical recession this year amid fallout from the United States election results, weak global growth and rising market volatility, said OCBC economist Selena Ling.
Well, let us not be short sighted. There are a number of ways how SMEs in Singapore can stay lean to be afloat in this turbulent time…
Small businesses are engines of economic growth and generate significant new employment opportunities. Using of digital technology often enables small businesses to disrupt existing industry business models, for example by going directly to end-customers, bypassing traditional industry sales and distribution networks. As with other growth opportunities for small businesses, cloud computing provides small businesses with the flexibility to quickly and easily innovate their business model.
Cloud technology is often thought as being particularly appropriate for small businesses, given its advantages of low cost, flexibility, and scalability. Our research shows that cloud usage is a significant advantage for business growth. Cloud adoption in businesses with 20 to 50 employees is now as high as it is in larger organisations. However, in firms with under 20 employees, less than 20% currently use the cloud to host their main business applications.
Cloud computing offers small businesses competitive advantages, both in overseas expansion and aspects of business operations. These include lower operating costs, enhanced flexibility, and greater scalability. Overall, 61% of small businesses that are cloud users believe the use of the cloud gives them a source of competitive advantage, primarily in lower operating costs (27%) and greater responsiveness to customer needs (21%).
Cloud-based software offers advantages such as low cost, flexibility, and scalability to small businesses looking to grow. Using cloud-based solutions, small businesses can access the same functionality as multinational corporations, but at a fraction of the cost. Cloud-based systems allow small businesses to manage operations in multiple markets, dealing with local currencies, accounting regulations, and taxation. There is a clear linkage between the use of cloud and internationalisation. Cloud users among small businesses are 3 times as likely to internationalise as non-cloud users, and 3 times as likely to plan further overseas expansion. In short, businesses born in the cloud are also born global. IE Singapore has been a great push for companies in Singapore to take advantage of their various grants to go global.
Cloud computing presents immense opportunities for small businesses in the region. The adoption of cloud computing technologies is enabling small businesses to leverage their competitive assets – speed and agility – to access new overseas markets easily and optimise business efficiencies.
Here at Novatise, we create cloud-based systems for SMEs in Singapore to operate under such umbrella of efficiency.
If you looking for a solution where you could create
Novatise is the ideal software provider that do with perfection in any respect! First, it’s important to recognise that a generally incorporated SME in Singapore’s operational difficulties, with value-addition, which makes it a necessity to improve productivity over the long run. A fast accessibility to all vital supplier data anywhere at any time is essential for all companies. When using cloud softwares, you must make sure that you’ve got available WIFI connection.
Talk to us if your company need a consult for such.