Asean SMEs signal intention to invest more in tech to boost business

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SINGAPORE (Feb 12): Small and medium enterprises (SMEs) in Singapore and the Asean region see the need to invest more in technology in order to succeed under increasingly challenging conditions, according to a study shared today by United Overseas Bank (UOB), EY, and Dun & Bradstreet.

According to the ASEAN SME Transformation Study, 60% of Asean SMEs say they will focus their investments on technology in 2018 to help drive business performance. This will take precedence over investments in other fixed assets, such as factories and machinery.

In addition, some 78% of the 1,235 Asean SMEs interviewed say they will invest specifically in software such as improving their websites and creating mobile apps... (Click here to read the full story.)