Singapore to launch new office to help SMEs process

Small and medium-sized enterprises (SMEs) in Singapore will soon have a new resource to help them cut through bureaucratic red tape, particularly in complex cases involving multiple government agencies. The SME Pro-Enterprise Office (SME PEO), set to launch in the first quarter of 2025, aims to simplify approval processes and alleviate regulatory burdens that hinder business growth.

The office, which Enterprise Singapore will oversee, is designed to assist SMEs in navigating the often-complicated web of government regulations, especially in emerging sectors such as the green economy or industries requiring cross-agency collaboration. The SME PEO will address challenges faced by businesses dealing with issues like obtaining permissions for installing solar panels, which may involve multiple regulatory bodies including environmental, safety, and manpower agencies.

By streamlining these multi-agency approval processes, the SME PEO is expected to significantly reduce the time and costs associated with compliance, allowing SMEs to focus on growth, innovation, and transformation. The new office will complement the existing work of individual regulatory agencies, which will continue to handle straightforward, single-agency cases.

The initiative is part of the government’s efforts to maintain a competitive, business-friendly environment amid fast-paced technological advancements and an evolving global market. SMEs, which employ around 70% of Singapore’s workforce, are recognized as a crucial part of the economy, and the government has committed to ensuring their continued growth and success.

The SME PEO will operate on a triage, track and treat system prioritizing feedback from SMEs, monitoring service standards, and ensuring efficient resolution to issues that may arise. This structured approach is expected to improve regulatory effectiveness and foster greater coordination between agencies, benefiting SMEs across various sectors.