SINGAPORE (Feb 12): Small and medium enterprises (SMEs) in Singapore and the Asean region see the need to invest more in technology in order to succeed under increasingly challenging conditions, according to a study shared today by United Overseas Bank (UOB), EY, and Dun & Bradstreet.

According to the ASEAN SME Transformation Study, 60% of Asean SMEs say they will focus their investments on technology in 2018 to help drive business performance. This will take precedence over investments in other fixed assets, such as factories and machinery.

In addition, some 78% of the 1,235 Asean SMEs interviewed say they will invest specifically in software such as improving their websites and creating mobile apps.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook