Enterprise Singapore (ESG or ESG Singapore) is a government agency that functions as the nation’s one-stop avenue for enterprise development.
History of Enterprise
Singapore
Before 1 April 2018, ESG was dubbed as International Enterprise Singapore, or IE Singapore for short. The name has since been shortened with the merging of the 2 agencies, IE Singapore and SPRING Singapore – Standards, Productivity and Innovation Board.
Going back even further, IE Singapore was derived from the Singapore Trade Development Board (TDB). The reorganisation and renaming took effect on 12 April 2002. This change was facilitated because of the need to diversify Singapore’s economic strategy and spur further growth, moving on from its past investment-led and electronics-dominated exporting system.
The changes that ESG has undergone from the 1980s to what it is today can be chalked up to the singular priority of ensuring that Singapore’s economy remains competitive and prosperous. Therefore, providing assistance to Singaporean businesses is the sure-fire way of fortifying the nation’s development.
ESG Vision
A vibrant economy with globally competitive Singapore enterprises.
ESG Mission
Grow stronger Singapore enterprises by building capabilities and accessing global opportunities, thereby creating good jobs for Singaporeans.
Why ESG Exists
ESG exists to champion enterprise development, serving as an incredible pool of resources for companies of varying capacities and labour sizes. Their infrastructure covers all areas from one-man businesses to Startups, Small and Medium Enterprises (SMEs), and so on. As long as you are a committed business owner with the motivation to elevate your company in the long run, ESG would be a great fit.
They specialise in assisting companies to
ESG meets your business where it is today and brings it to tomorrow’s level, which is a mission that STUDIO DAM shares with ESG.
By diligently assisting companies to gain success and growth, ESG also inadvertently exists to contribute to the establishment of trust in Singapore’s products and services worldwide.
How does ESG Benefit Enterprises?
Their Strategic Priorities
In general, ESG leads with a holistic company-centric approach. This means that their infrastructure is dedicated to helping companies, and their assistance covers all facets of business ownership, management, and development.
Furthermore, their resources can either be in the form of financial assistance or along the lines of education and skills development. An example of a financial grant offered to SMEs is the Enterprise Development Grant (EDG).
No matter where you are currently in your company’s growth, the industry you’re involved in, and the vision for growth that you harbour, ESG is equipped to provide you with the right resources to inform and fulfil your business needs.
In order to do so, ESG has identified 3 key priorities to realise their mission. They are:
ESG Key Priorities
1. Raising Productivity
Specifically, ESG is focused on SMEs, assisting in the switch to digitalisation to boost efficiency levels. This also relieves businesses from the stress of a labour-constrained environment.
2. Strengthening Innovation
With a saturated market, innovation is essential to remain competitive as a business. ESG advocates for companies to invest time in developing their own innovative technologies, and create their own intellectual property by:
3. Accelerating Internationalisation
Moving a business into international waters is daunting. ESG eases the process by providing in-market entry assistance, helping companies acquire the necessary capabilities to continue the venture independently.
ESG Overarching Strategies
Besides these 3 key priorities, there are also 4 overarching strategies that ESG underlines to secure a company’s self-sustainability.
They are:
So Why ESG?
ESG has a serious foothold in all kinds of industries and markets. For new or less experienced business owners, it is perhaps the necessary helping hand to prevent missteps or missed opportunities for growth, both personally and for your business.
All it takes is a single conversation to get the ball rolling.
Arrange an hours’ worth free consultation to discuss EDG Grants with us today!