Singapore : New alliance launched to nurture business leaders


The Singapore Business Federation (SBF) along with five partners set up the Young Business Leaders Alliance – a new platform to support up and coming entrepreneurs.

The five partners are the Business Leaders Alumni Club; three Young Entrepreneurs Network from the Singapore Chinese Chamber of Commerce and Industry, Singapore Malay Chamber of Commerce and Industry, and Singapore Indian Chamber of Commerce and Industry; and a group of 22 individual Young Business Leaders.

The alliance was launched by the Minister of State for Trade & Industry Teo Ser Luck at the SME Convention 2013 on Monday.

Mr Teo said: “Entrepreneurship is an important means to which our economy and society is revitalised. Start-ups and young companies are nimble and can adapt quickly to the changes in the business environment and they are usually at the frontiers of innovation, technological development and idea creation. They represent the vibrancy and dynamism of our business sector.”

The new alliance will help to connect young business leaders to harness partnership as well as offer peer-learning and mentorship.

Speaking at the convention, Lawrence Leow, chairman of the SBF-led SME Committee highlighted a concern that many small and medium enterprises (SMEs) are at a loss how to grow their top line, amid tightening labour market and rising business costs.

Citing a survey conducted by SBF last month on Budget 2013, Mr Leow said while SMEs generally appreciated the government’s measures to help them cope with rising cost, some firms found certain measures ineffective and are having difficulty with boosting productivity.

According to the survey, about 75 per cent of firms polled said they benefited from the Productivity and Innovation Credit Bonus.

Meanwhile, more than 60 per cent of respondents were either not sure or did not find the measures effective in helping to reduce costs.

To this end, Mr Leow said the SME Committee (SMEC) has formed a new sub-committee to spearhead discussions on SME Innovation.

The SMEC is a business-led initiative under the auspices of SBF, which will function as a key platform for engagement between the SME community and policymakers to discuss SME business issues to effect business-friendly policies in Singapore.




Source : Channel News Asia | October 28, 2013


About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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