DBS has introduced an innovative internationalisation programme called Bridging Business Horizons, aiming to assist 1,000 businesses in Singapore and the region over the next year in exploring new markets. Launched on June 3, 2024, the initiative is backed by the Singapore Business Federation (SBF) and Enterprise Singapore (EnterpriseSG).

The programme focuses on three key areas: identifying new market opportunities, crafting effective entry strategies, and enhancing local networks. Businesses can register for the programme free of charge.

Participants will benefit from a range of networking sessions and workshops designed to help them improve their export competitiveness by leveraging Singapore’s extensive free trade agreements. Additionally, DBS will offer localized support in markets such as China, Hong Kong, India, Indonesia, and Taiwan.

Alongside advisory services, DBS will provide access to financing solutions, as well as resources from SBF and EnterpriseSG to help companies scale their operations. According to DBS, about 57% of Singapore’s businesses are interested in expanding overseas, particularly within Southeast Asia. However, they face numerous challenges, including increased market volatility and higher operational costs.

Han Kwee Juan, DBS’s group executive and Singapore country head, emphasized the importance of a programmatic approach rather than isolated discussions with individual businesses. The goal is to foster collaboration among Singaporean firms, enabling them to support each other in their international ventures.

One company planning to utilize the new programme is Motorist, a car platform aiming to enter 10 new overseas markets within the next two years. Angela Poh, the company’s deputy CEO, highlighted that leveraging DBS’s overseas network will be crucial to expediting their growth plans.