Post date: Oct 18, 2012 2:45:17 PM
Overseas revenue accounts for almost 75% of Singapore companies’ total revenue; Singaporeans make up 72% of the overseas workforce for the average SME,
and 45% for the average non-SME.
SMEs internationalise through exporting goods (66 per cent), followed by exporting services (34 per cent), and setting up of subsidiaries/ branches (30 per cent).
In comparison, non-SMEs ventured overseas by setting up subsidiaries/ branches (68 per cent), exporting goods (44 per cent) and joint ventures (34 per cent).
Market understanding, talent and right partners are key success factors in expanding overseas.
Conclusion
Companies are bullish on overseas growth and expect positive overseas revenue contribution despite facing multiple challenges amidst this uncertain global climate. A good market understanding, and having the right talent and partners are critical to companies for success in overseas expansion, and IE Singapore will continue to support companies in these areas through its market insights’ sharing and strategic engagement with companies.
Retrieved on 17 October 2012 from here.