Small outfits gain a foothold abroad with study trips

A GOVERNMENT-LED training initiative for business owners and executives is beginning to help more small- and medium- sized enterprises (SMEs) here gain a foothold in emerging markets abroad.

Trade agency International Enterprise (IE) Singapore said its International Business Fellowship (iBF) was designed as a scheme to educate entrepreneurs about doing business in various overseas markets.

But participants got an unexpected bonus, in the form of business opportunities after they took part in the programmes in the various emerging markets.

'The iBF executive programmes provide SMEs with an insight into the business practices, culture and systems of key overseas markets,' said Ms Khoo Wee Lin, deputy director of capability development at IE Singapore. 'And while the initial aim was educational, we have had participants who obtained business leads from the programmes.'

The iBF supports all Singapore- based companies in executive training, particularly in the development of business networks in overseas markets. The programmes offer training stints for business owners or their executives at top training institutions in Central Asia, China, India, Latin America, the Middle East and countries like Vietnam and Russia.

Ms Khoo said that through the programmes, SMEs can also learn from other Singapore firms which are already doing business there and engage with local business leaders and government officials. She believes that despite the downturn, Singapore SMEs - which typically possess strong fundamentals - are in a better position to capture opportunities in emerging markets.

'In this economic climate, it becomes even more relevant for SMEs to look to overseas markets to diversify their supply and customer bases,' she added.

'For SMEs, emerging economies such as Qatar and Brazil are abundant with opportunities, yet a lack of knowledge about these markets is preventing SMEs from entering them.'

IE Singapore believes that structured and market-specific short-term courses like the iBF executive programmes can provide a systematic introduction to new markets globally.

The programme is open to Singapore-based companies with headquarter operations here but which are planning to expand abroad. Also, participants in the iBF executive programmes can enjoy up to 70 per cent of support in course fees from the government.

Business owners like Mr Edwin Chan, the founder of language school Cambridge Institute, say iBF executive programmes have helped open doors for his firm's expansion into Vietnam. He said: 'By going as a group with IE Singapore, we were able to get in touch with other like-minded businesses and leaders from the local business community and that helped pave the way for us to set up our business there.'

Besides attending the iBF executive programme to Vietnam, Mr Chan also sent two staff on the Middle East and Latin America programmes as well.

'With the contacts we have made, I am now planning to venture into the Middle East,' he added.

Aside from executive programmes, the iBF also has a postgraduate scholarship component for people to pursue full-time or part-time business- related master's programmes, as well as give local undergraduates immersion experiences in the supported markets.

IE Singapore says participants in iBF executive programmes this year can look forward to study trips to Sao Paolo in Brazil, Chinese cities like Beijing and Nanjing, and Pune and Mumbai in India.