Singaporean Businesses Thrive Through Self-Reliant Strategies

SINGAPORE, Jan. 6, 2022 /PRNewswire/ -- As Singapore's economy gradually reopens and relaxation of the movement restrictions, SMEs remains in a tenuous position. However, with continuous support from the government and self-reliant adaptive strategies, SMEs are determined to not just safeguard their survival, but also ensure their long-term competitiveness as the economy recovers.

During this period, SMEs were looking to engage in digitalizing their business, as the movement restriction had shifted customer interactions to the digital space thus forcing SMEs to adopt technological solutions to meet the new market demands. Balancing this act, SMEs are also emphasizing on upskilling their workforce to integrate their digitalization strategy better.

Among the 218 companies nominated, 11 were selected as winners. They have proven that strength, agility, and decisive action are key factors in overcoming tough situation caused by the pandemic. These Singaporean SMEs successfully adapted and evolved their business model and strategies to survive and thrive as the Singaporean economy begins to recover.

Datuk William Ng, organising chairman of the Golden Bull Award, said, "the common traits of these successful SMEs, who thrived despite the pandemic, are that they have a strong business foundation and were quick to adapt to the adverse situation".

This year marks the second year in Singapore for the Golden Bull Awards. A total of 3 different categories were open for competition, including Emerging SMEs, Outstanding SMEs, and the coveted Super Golden Bull Award, categorized respectively according to annual turnover.

"The Golden Bull Award symbolizes 'Strength and Growth'. This year, it also represents resilience, and the idea that we must not give up, no matter how tough the road ahead will be", said Ng.

"We are privileged and honoured to be working closely with many SMEs in Singapore and the region to help them reap the strategic benefits of digital transformation, by providing them with not just digital solutions and tools that are customised to their needs, but also our excellent support services to provide regular training to our customers to ensure they maximise the advantages afforded by our solutions, and stay up to date and savvy with the latest developments in technology," said Aaron Lee, chief executive officer and founder, Gabkotech Innovations.

"Every little step counts. Each achievement reminds us to stay competitive, innovative, productive and continue to strive for improvement every single day." said Ong Chuan Aik, managing director, JR Life Sciences Pte Ltd.

The official auditor of the 2021 Singapore Golden Bull Award is Baker Tilly Singapore, with Orchard Road Business Association as the supporting organization.

The Golden Bull Award, the first award for SMEs in Malaysia, is first organised in 2003. The Award, organised by Business Media International, has since expanded into China, Taiwan, and Singapore.

LIST OF RECIPIENTS OF SINGAPORE 2021 GOLDEN BULL AWARD

OUTSTANDING SMES
EB Food Marketing Pte. Ltd.
JR Life Sciences Pte. Ltd.
Thong Lee Container Service Pte. Ltd.

EMERGING SMES
Calvin Seng Co Pte. Ltd.
Declarators Pte. Ltd.
Gabkotech Innovations Pte. Ltd.
JCWARREN Pte. Ltd.
MODE Aesthetics Pte. Ltd.
OC Digital Pte. Ltd.
SZ&W (Southeast Asia) Pte. Ltd.
The Lab Singapore

About Business Media International

Business Media International is a subsidiary of Audience Analytics Ltd, a regional leader in promoting growth for companies in Asia through data-driven brands and initiatives. We own renowned media brands such as SME Magazine, HR Asia, Capital Asia, Energy Asia, Logistics Asia, TruthTV, and CXP Asia as well as business impact assessment brands such as SME100, HR Asia Best Companies to Work for in Asia, Golden Bull Awards and CXP Asia Best Customer Experience Awards. We organise various exhibitions and has the proprietary software-as-a-service — Total Engagement Assessment Model – in our portfolio.

About Golden Bull Award

The Golden Bull Award aims to serve as an effective platform to benchmark successful businesses, inspiring more businesses, both SMEs and corporates, to strive for greater excellence. Excellence is born of a chemistry between perseverance and ideals, virtues embodied by the Golden Bull Award. The nomination selects the best by placing emphasis on elimination by process.