BIZSpoke | SBF National Business Survey 2024 - Scaled Internationally Edition More Singapore Businesses Eye Overseas Expansion and Sales Growth

22 NOVEMBER 2024

"Despite the uncertainties in the external environment, more businesses are considering overseas expansion and expect growth in sales in the next 12 months."

- SBF CEO Kok Ping Soon

The latest SBF National Business Survey 2024 - Scaled Internationally Edition reveals a surge in global ambitions, with 56% of Singapore businesses polled earning over 40% of their revenue from overseas, up from 54% in 2023. While ASEAN remains a key focus with Vietnam, Indonesia, and Thailand leading, companies are increasingly eyeing new markets like the UAE (14%) and Saudi Arabia (11%), signaling a shift beyond ASEAN.

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WHAT'S NEW

$16M Programme Launched to Support Overseas Expansion and Build Global Talent

SBF has been named the first programme partner of the $16-million Overseas Markets Immersion Programme (OMIP), designed to help Singapore firms grow internationally while developing a globally competitive workforce. Click here to read more.

Listen to Director of WSG's Trade and Lifestyle Division Kenneth Wong, and Executive Director of the Human Capital Division at SBF Thian Tai Chew, as they shared more on OMIP on CNA's Singapore Tonight.

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SUPPORTED EVENT

Enabling Sustainable Growth: Shaping the Future of Work

‘Enabling Sustainable Growth’ is one of the four themes of the Urban Redevelopment Authority's Draft Master Plan 2025. Learn about our development plans for the various economic gateways, business and job nodes across the island. Find out more how we are shaping these business nodes into inclusive spaces that seamlessly integrate work, living, and leisure.

Exercise SG Ready 2025

Exercise SG Ready aims to activate thinking and increase Singaporeans’ readiness for crises and disruptions. Held over two weeks in February 2025, businesses can use the exercise scenario to review business continuity plans, simulate power disruptions, or drive cybersecurity education.