2019 may be a challenging year for businesses, but that did not stop Singapore companies from pushing forward with transformation efforts.
The re-naming of RHT Law Asia and the widening of services offered by GOC reinforces a steely will to strengthen value propositions and expand into Asia as a leading organisation.
As we move into the rest of 2020, the positive momentum needs to be maintained; build the RHT brand, align internally, transform and grow. Indeed, transformation is a process, not an overnight outcome.
Advancing as one to make Singapore a vibrant economy with globally competitive enterprises, the responsibility is ours, in as much as our engagement with SMEs and enterprises, to support them in seizing opportunities.
Budget 2020 is a transformation and growth package for Singapore companies covering three main objectives:
It is a strategic and responsive budget that listens and provides support for businesses in this climate of uncertainty with a mid and long-term view of fostering transformation.
1920RHT welcomes the Government’s support. There are several encouraging measures in the “Stabilisation and Support” and “Transformation and Growth” packages that are tremendously helpful for business-facing challenges in cash-flow, access to funding, interruptions to scale-up, internationalisation plans, and for sectors directly affected by the current COVID-19 situation.
1920RHT has capabilities to support companies in strengthening core capabilities, increasing Innovation and productivity and growing with internationalisation.
Whilst taking measures to tide over this Covid19 impact, we must not forget that there is a future that awaits. What kind of future will you wake up to?
Remember that investors are drawn by market opportunities that lie outside Singapore and beyond; this is why incumbents and starts up must continuously strengthen internal capabilities, embrace innovation and look towards internationalisation and collaboration.
Remember also that The Smart Nation Strategy relies on the robustness of the digital economy; this is why protecting personal data and our critical information infrastructure against cyberattacks should be a key pillar of any company that wants to stay relevant in the future economy.
Budget 2020 showcased great foresight in highlighting that drivers for Singapore economic transformation. In the same way, businesses must exercise foresight and budget for their future to sustaining success into the future.
BY: Lu-Ann Ong
Executive Director, 1920RHT Management Consultancy
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CEO, RHT Consultancy
Executive Director, 1920RHT