70% of SMEs who adopted quality and standard saw overseas opportunities grow
9 out of 10 SMEs that adopted quality and standard said it provided them with a competitive edge.
More than four out of six small and medium enterprises (SMEs) in Singapore who have leveraged quality and standard (QS) infrastructure have said that helped increase their access to exports and international business opportunities, according to Enterprise Singapore’s Quality and Standards Survey.
The survey also found that close to 90% of SMEs who adopted QS responded that QS had provided them with a competitive edge to differentiate their offerings from competitors.
EnterpriseSG advised Singapore firms to capture this window of opportunity to expand their business overseas through the adoption of QS.
“Together with the two Councils and industry stakeholders, EnterpriseSG will continue to strengthen our QS ecosystem to help our companies build trust in their products and services in these 3 key areas: Digitalisation, Sustainability, and Resilience,” EnterpriseSG said
Conducted in March 2022, which involved over 1,000 companies in Singapore, the survey aims to understand the level of awareness and adoption of QS amongst enterprises in Singapore.