In Singapore, where small to medium-sized enterprises (SMEs) make up a significant portion of the economy, the rapid pace of digital transformation has left many businesses struggling to keep up.
A 2022 survey by the Infocomm Media Development Authority (IMDA) highlighted that while 83% of large corporations in Singapore had adopted digital tools, only 57% of SMEs had done the same.
Recognizing the challenges faced by these smaller businesses, Chen, an undergraduate student at the University of London in Singapore, decided to take action. Through his agency, Web Wizards, Chen has helped SMEs transition to the digital age, significantly impacting the local economy
The Digital Divide: A Challenge for SMEs
Small to medium-sized businesses are the backbone of Singapore’s economy, contributing to nearly 50% of the country’s GDP and employing 70% of its workforce, according to a 2023 report by the Association of Small and Medium Enterprises (ASME). However, many of these businesses have been slow to …