DBS launches Bridging Business Horizons programme to support business expansion

SME Banking
10/06/2024 News

DBS has launched the Bridging Business Horizons programme, aimed at assisting small and medium enterprises (SMEs) and mid-sized corporations from Singapore and the region to expand into new markets. This initiative leverages DBS' extensive network and expertise, supported by the Singapore Business Federation (SBF) and Enterprise Singapore (EnterpriseSG).

Digital Reinvention
15/05/2024 Article

Financial Innovation Spotlight: May 2024 edition

Addressing business challenges

Research shows that 57% of Singaporean businesses are keen on overseas expansion to tap into Southeast Asia’s growing middle class and expanding digital economy. However, companies face challenges like market volatility, high business costs, and limited resources, making international expansion risky.

Programme structure

The Bridging Business Horizons programme addresses these challenges through three pillars:

• Discover: Businesses learn about internationalisation pathways and identify new market opportunities.

• Develop: Companies gain insights into target markets to create effective entry strategies.

• Deepen: Firms connect with in-market experts to strengthen their onshore networks for sustained growth.

Additionally, businesses can access DBS’ financing solutions and resources from programme partners to support their scaling efforts.

Engagement and support

The programme aims to engage 1,000 companies through networking sessions, insights sharing, and workshops. Participants can benefit from advisory services to leverage Singapore's free trade agreements, enhancing their export competitiveness. DBS will collaborate with partners to organise in-market engagements in key locations such as China, Hong Kong, India, Indonesia, and Taiwan.

Testimonials and partnerships

Han Kwee Juan highlighted DBS’s role in supporting Singapore’s industries and expressed excitement about the programme. Koh Kar Siong emphasized the structured approach designed to help businesses develop robust overseas growth strategies. Kok Ping Soon of SBF and Cindy Khoo of EnterpriseSG both underscored the programme's importance for internationalisation.

Rachel Lim, Co-founder of Love, Bonito, praised DBS for their role in the company’s growth from a blogshop to a global brand.

Ongoing efforts

The Bridging Business Horizons programme is part of DBS’s ongoing efforts to help businesses transform and scale, including the ESG Ready Programme launched in April to build sustainability capabilities.

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