Page 7 - index
P. 7
RESEARCH, ANALYSIS & TRENDS
company. Some companies may ing, competitive global market, as And given the outright essential
be able to find effective private sec- well as the competition faced at nature of SMEs in the country’s
tor strategic partners, while others home in Singapore. Research and economy, that support is now on
may prefer to take something en- Development is already key to free the table for any company looking
tirely government-backed, especial- market success. If you can save to expand elsewhere. This initiative
ly if they are in construction, an in- money implementing it, it’s an op- is a great way to round out the in-
dustry the government has already portunity worth taking advantage of. ternal infrastructure initiatives of the
addressed with other similar initia- budget with something useful
tives. Using financing and taking The new budget throws SMEs a across the globe.◊
tax credits together may be an ex- major lifeline on affording it.
cellent way for certain companies By Anant Choubey,
to reposition themselves much #4: The new budget calls for in- Regional Head – APAC,
stronger financially.
ternationalization. Capillary Technologies
#3: Current PIC initiatives have While overseas initiatives are not About the Author:
been expanded and extended.
brand new to Singapore, the Anant Choubey is
change here is substantial. The responsible for
PIC is the Product and Innovation amount of money available to com- sales and market-
Credit, an opportunity for compa- panies seeking to internationalize ing in the APAC
nies looking to expand their capa- will double from $15 million over region at
bilities to claim larger tax credits two years to $30 million over two Capillary Technol-
than ever before. The PIC has years. New initiatives will also take ogies and current-
been in effect in past budgets to on extra support, as pilot and test- ly manages the
great success, and the government bedding projects in international firm’s business
is pushing it yet again for its 2014 territory will see a raise in support across South East Asia. His prime
proposal. PIC sets aside $3.6 bil- level from 50% to 70%. The budget focus is to strategize and expand
lion over the past three years and will also support staffing initiatives Capillary in burgeoning market in
allows for companies to claim tax in foreign markets, suggesting that South East Asia. He has donned
deductions of up to $1.2 million. global business is a major strength many hats in Capillary over the
Specifically, SMEs will see an in- for the city state according to the years, from operations to client
crease in expenditure cap, from belief of those with the signature servicing to business development
$400,000 to $600,000. The govern- authority on government expendi- and has been instrumental in set-
ment will also allow a tax break of tures. ting up Capillary’s India business,
up to 50% for qualified R&D initia- before moving to Singapore to
tives.
How to capitalize on internation- establish and manage South East
al efforts: The Singapore market is Asia market.
How SMEs can capitalize on PIC: one of the strongest in the world. It
Not everyone has the capital to has been branded to succeed and
make a move in the innovation is heralded for its success. Making
space, but this is exactly the right waves in international markets is
size break for certain SMEs to get not only possible, but likely, as long
over the hump into the next class of as companies have the right sup-
growth. SMEs must constantly in- port.
novate to survive the always grow-
MediaBUZZ Pte Ltd - Independant ePublisher for Asia
company. Some companies may ing, competitive global market, as And given the outright essential
be able to find effective private sec- well as the competition faced at nature of SMEs in the country’s
tor strategic partners, while others home in Singapore. Research and economy, that support is now on
may prefer to take something en- Development is already key to free the table for any company looking
tirely government-backed, especial- market success. If you can save to expand elsewhere. This initiative
ly if they are in construction, an in- money implementing it, it’s an op- is a great way to round out the in-
dustry the government has already portunity worth taking advantage of. ternal infrastructure initiatives of the
addressed with other similar initia- budget with something useful
tives. Using financing and taking The new budget throws SMEs a across the globe.◊
tax credits together may be an ex- major lifeline on affording it.
cellent way for certain companies By Anant Choubey,
to reposition themselves much #4: The new budget calls for in- Regional Head – APAC,
stronger financially.
ternationalization. Capillary Technologies
#3: Current PIC initiatives have While overseas initiatives are not About the Author:
been expanded and extended.
brand new to Singapore, the Anant Choubey is
change here is substantial. The responsible for
PIC is the Product and Innovation amount of money available to com- sales and market-
Credit, an opportunity for compa- panies seeking to internationalize ing in the APAC
nies looking to expand their capa- will double from $15 million over region at
bilities to claim larger tax credits two years to $30 million over two Capillary Technol-
than ever before. The PIC has years. New initiatives will also take ogies and current-
been in effect in past budgets to on extra support, as pilot and test- ly manages the
great success, and the government bedding projects in international firm’s business
is pushing it yet again for its 2014 territory will see a raise in support across South East Asia. His prime
proposal. PIC sets aside $3.6 bil- level from 50% to 70%. The budget focus is to strategize and expand
lion over the past three years and will also support staffing initiatives Capillary in burgeoning market in
allows for companies to claim tax in foreign markets, suggesting that South East Asia. He has donned
deductions of up to $1.2 million. global business is a major strength many hats in Capillary over the
Specifically, SMEs will see an in- for the city state according to the years, from operations to client
crease in expenditure cap, from belief of those with the signature servicing to business development
$400,000 to $600,000. The govern- authority on government expendi- and has been instrumental in set-
ment will also allow a tax break of tures. ting up Capillary’s India business,
up to 50% for qualified R&D initia- before moving to Singapore to
tives.
How to capitalize on internation- establish and manage South East
al efforts: The Singapore market is Asia market.
How SMEs can capitalize on PIC: one of the strongest in the world. It
Not everyone has the capital to has been branded to succeed and
make a move in the innovation is heralded for its success. Making
space, but this is exactly the right waves in international markets is
size break for certain SMEs to get not only possible, but likely, as long
over the hump into the next class of as companies have the right sup-
growth. SMEs must constantly in- port.
novate to survive the always grow-
MediaBUZZ Pte Ltd - Independant ePublisher for Asia
