Quality standards plays an important role in uplifting the capabilities of Singapore’s businesses
According to the recent Singapore Chinese Chamber of Commerce and Industry's (SCCCI) annual business survey, nearly two in five or almost 40 per cent of respondents predicted a drop in revenue. Just over 82 per cent of the businesses polled said expanding the top-line was their key concern. Given tough market competition, there is a need for firms including SMEs to focus on value creation and innovation to remain competitive. These include the challenge complying with local regulations and standards. However, it is commonplace for businesses to face labour-intensive processes of filling up forms and documents without a clear timeline and direction. Digitalisation of these process could be a solution. Especially since local businesses are faced with market barriers of complying with global standards when they internationalise. Stendard aims to help local businesses simplify the long and arduous process of compliance. We speak to its co-founder and CEO, Jason Lim.
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