DBS targets small firms’ technology gaps with free support

The package includes onboarding workshops, sector advice and access to artificial intelligence tools.

DBS SME Banking has launched "DBS for SMEs", a free programme offering operational, financial, and digital support to help local small businesses build resilience.

DBS is the first bank to introduce extra measures following Singapore's $703m (S$900m) national relief package. 

The scheme was launched after the bank's latest survey showed that 45% of local SMEs are seeking to diversify revenue streams, whilst 43% struggle to keep up with technological advances.

The initiative targets three main areas: Advisory and capability-building; Cross-border payments and foreign exchange (FX) solutions; and Financing solutions.

Free onboarding workshops, one-on-one sessions, and sector-specific advice for industries such as healthcare and construction. It also features targeted programmes for second-generation business owners alongside access to DBS’s AI and sustainability platforms.

Reduced fees and expanded benefits across trade routes covering 190 countries and 132 currencies. SMEs can also lock in foreign exchange rates upfront without drawing on credit lines.

Broader access to project loans and working capital financing through a partnership with Enterprise Singapore under the Enterprise Financing Scheme.

(US$1.00 = S$1.28)