Service SMEs: Digital Pathways for Growth

What’s holding back digital transformation of service businesses
Singapore’s service sector is a cornerstone of its economy, with SMEs having a large share of local businesses. However, these businesses are facing big challenges: rising costs, tight labour access, and more competition. A Singapore Business Federation (SBF) survey revealed that 94% of businesses see digital transformation as essential, yet many smaller ones struggle due to high costs and limited expertise.