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2013/PPWE/002
Agenda Item: 9
Women and the Economy Individual Action Plan
Purpose: Information
Submitted by: Singapore
/ Third Policy Partnership on Women and the Economy MeetingBali, Indonesia7 September 2013
Women and the Economy Individual Action Plan - 2013
Singapore’s approach to women’s economic empowermentSingapore is a small, open economy with no natural resources. We provide an enabling environment for our people to be the best they can be. For this reason, we invest in and maximize the potential of our people, irrespective of gender, race or creed.
Gender equality in Singapore is founded on the principle of equal opportunities for men and women on the basis of meritocracy. The Government is committed to the advancement of women in Singapore as equal and integral members of Singapore society. Fundamental resources, such as education, healthcare and social protection, are available to all Singapore citizens regardless of gender.
Area
/ Programmes and policies being implemented / Programmes and policiesto be implemented / Progress made since June 2012
Access to Capital / Women in Singapore are equal and integral members of Singapore society. Our programmes aimed at improving access to capital benefit both men and women entrepreneurs, so long as they meet eligibility criteria of the respective schemes and programmes.
Existing Programmes
1. Action Community for Entrepreneurship (ACE)[1] Startup Grant - The ACE Startup grant provides funding support to entrepreneurial Singaporeans who want to take their first step in starting up differentiated businesses. / - / A vibrant, dynamic and competitive SME sector requires a continuous flow of new entrants into the sector.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Access to Capital
(cont…) / 2. SPRING Startup Enterprise Developmet Scheme (SPRING SEEDS) - SPRING SEEDS is an equity-based co-financing option for Singapore-based start-ups with innovative products and/or processes with intellectual content and strong growth potential across international markets.
3. SPRING Business Angel Funds - SPRING SEEDS Capital works closely with two pre-approved private business angel funds to co-invest and nurture growth-oriented, innovative start-ups.
4. SPRING Micro-Loan Programme – loans of up to S$100,000 can be offered to local small medium enterprises with 10 or less employees.
5. International Enterprise (IE) Singapore’s Global Company Partnership – Financing:
(i) Internationalisation Finance Scheme – credit enhancement tool to secure bank financing for overseas fixed assets investments and/or fulfilling secured overseas contracts.
(ii) Loan Insurance Scheme – credit enhancement tool to secure short-term trade finance facilities.
(iii) Trade Credit Insurance Scheme – assists companies seeking protection against default and/or non-payment from its buyers. / - / SPRING works in close partnership with the Action Community for Entrepreneurship (ACE) to promote entrepreneurship and support aspiring first-time entrepreneurs. 40 ACE start-ups and 56 schools were supported by ACE in 2012.
In addition, SPRING and its partners support incubators and accelerators and provide grants and equity funding to seed and nurture innovative start-ups. SPRING SEEDS Capital invested S$7.5million in 12 investments, catalysing a total of S$22 million investment into these start-ups.
In 2012, SMEs took up some 4,500 loans amounting to S$1.3 billion under the various schemes administered by SPRING and its financial institution partners.
IE Singapore assisted over 15,500 companies in their internationalisation drive in 2012, 85% of which were SMEs. A total of 6,000 companies benefitted from IE Singapore’s incentive schemes. As a result of IE’s assistance schemes, these companies secured a total of S$704 million of trade and project financing from banks and S$38 million of government grants.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June2012Access to Capital
(cont…) / (iv) Political Risk Insurance Scheme – risk mitigation tool for companies to safeguard projects and/or investments in overseas markets against political uncertainties. (Launched in October 2012)
New Programmes introduced after June 2012
6. International Enterprise (IE) Singapore’s Market Readiness Assistance (MRA) – Financing
(i) MRA Grant - supports pre-scoped professional services for market assessment, market entry and business restructuring through internationalisation.
(ii) Double Tax Deduction (DTD) - provides 200% tax deduction on eligible expenses for supported market expansion and investment development activities.
(iii) International Marketing Activities Programme (iMAP) - supports up to 70% of eligible expenses incurred for tradeshow and business mission participation, defraying costs such as exhibition space rental, booth construction and fair/mission consultancy expenses. / -
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Access to Markets / Programmes to facilitate entrepreneurs’ access to markets benefit both men and women entrepreneurs, so long as they meet the eligibility criteria of the respective programmes.
Existing Programmes
1. The Overseas Chapter Sub-Committee, set up under the Action Community for Entrepreneurship (ACE)[2], helps start-ups gain access and connect to selected overseas markets by establishing connections and platforms there.
2. Enterprise Development Centres - set up by SPRING Singapore with Trade Associations and Chambers of Commerce to assist entrepreneurs regardless of gender with business connection, information, as well as to explore business collaborations. / The first Overseas Chapter was set up in Beijing in June 2012. It brings together Singapore entrepreneurs and the entrepreneurship community in Beijing that ACE Start-ups could tap on when going into the Beijing market.
As part of the first overseas Chapter in Beijing in 2012, Letters of Intent were signed with Tsinghua-affiliated companies, Coway and Houde Capital, to expand network and support for start-ups. Incubation services at Tsinghua University Science Park were set up. There were 12 start-ups exploring mentoring and incubation support by ACE Beijing.
From 1 April 2013, Enterprise Development Centres expanded into SME Centres and will provide the following services:
i. One-to-one advice on government schemes, guidance on grant application, business diagnosis and more in-depth advice in areas like productivity, finance, human resources and overseas expansion.
ii. Capability workshops to help SMEs learn how to improve their productivity and financial knowledge.
iii. Networking and business matching to connect
SMEs with local and overseas partners.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Access to Markets
(cont…) / 3. International Enterprise (IE) Singapore’s Global Company Partnership (Market Access) and Market Readiness Assistance (Information): International Enterprise Singapore partners Singapore-based companies to develop their market entry strategies, facilitate their access into new overseas markets, and help entrench their presence in existing markets. It does so by providing in-depth market intelligence through its global network of more than 35 offices, and connections to foreign governments, business leaders, international organisations, industry players, product suppliers and multipliers.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Capacity and Skills Building / In Singapore, the capacity and skills building programmes beneficial to women are also programmes targeted at improving the lives of Singaporean workers as a whole.
Existing Programmes
1. Tripartite Committee on Work-Life Strategy (TriCom) - The TriCom drives the promotion of work-life strategies in Singapore, and comprises representatives from employer associations, unions, government agencies, HR training institutes and academics.
2. Employer’s Alliance – Ministry of Manpower (MOM) funds this Alliance of like-minded CEOs from best practice companies who promote work-life harmony to their peers.
3. Work-Life Works (WoW) – replaced by WorkPro funded by MOM to help companies implement effective work-life strategies. / The TriCom organises 2 biennial signature work-life events, namely the Work-Life Conference and the Work-Life Excellence Award. The Conference is a platform for employers and HR professionals to learn, share ideas and network. The Award showcases best practices and recognizes employers who have effective work-life strategies. The TriCom also supports capability building of employers and work-life consultants through training, guide books and case studies.
The Employer’s Alliance has grown to over 1,400 employers. It focuses on encouraging employers to create an enabling work environment to enhance work-life integration. Some of its new initiatives include consultancy mobile clinics to bring work-life promotion to the employers’ doorsteps; flexibility circles/forums for employers to share and learn; and research to address emerging manpower trends such as an aging workforce.
The Government has funding schemes to help companies defray the cost of implementing work-life friendly initiatives at workplaces.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Capacity and Skills Building
(cont…) / 4. The Tripartite Guidelines on Fair Employment Practices (TAFEP) – promotes fair, responsible and inclusive employment practices. / As of 30 June 2013, S$15.65million has been disbursed under the “WoW! Fund” and 880 companies (majority of which are SMEs) have benefited from the grant.
The WoW! Fund has been replaced by the Work-Life Grant* under a new holistic WorkPro programme since April 2013.
* The Work-Life Grant is part of the WorkPro programme to augment local manpower, foster progressive workplaces and strengthen the Singaporean core in our workforce.
It comprises a Developmental Grant, a one-time grant of up to S$40,000 to defray the developmental costs of implementing work-life strategies, particularly FWAs, and a FWA Incentive of up to S$120,000 per organisation (disbursed in tranches of up to S$40,000 each over three years) to recognise employers who have provided and sustained work-life friendly workplaces.
TAFEP works in partnership with employer organisations, unions and the government to create awareness and facilitate the adoption of fair, responsible and merit-based employment practices. TAFEP provides tools and resources, including training workshops, advisory services, and educational materials, to help organisations implement fair employment practices. Those who encounter workplace discrimination can contact TAFEP for advice and assistance or to provide feedback.
In April 2013, TAFEP launched a research publication titled “The Journey to the Top: Conversations with SuccessfulSingaporean Women”. The research involved 21 in-depth interviews with senior Singaporean women leaders to understand their experience and factors that
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Capacity and Skills Building
(cont…) / 5. Company-Led Training Programme for Fresh Professionals (CLT) - collaborates with CLT Partners to recruit, mentor and train fresh professionals in areas and technologies relevant to the local infocomm industry.
6. Hybrid Skills Development Programme - provides professionals with the skills and expertise to develop relevant infocomm solutions for businesses in four key economic sectors - Financial Services, Healthcare, Hospitality and Logistics.
7. Infocomm Leadership and Development Programme (iLEAD) Expanded - aims to ensure that Singapore's infocomm manpower capabilities keep pace with technology changes and Singapore remains at the forefront of technology development.
8. Internet of Knowledge (IOK) Capability Development Programme - aims to bring about capability development in Cloud Computing and Business Analytics through collaborations with leading industry players and Institutes of Higher Learning.
9. National Infocomm Competency Framework (NICF) - is a national infocomm roadmap which articulates the competency requirements of key Infocomm professionals. Infocomm professionals and employers can leverage on the Framework to determine the types of skills and competencies required for various infocomm jobs and to develop training strategies for the professionals. / contributed to their success and how companies can implement practices that leverage on talented women.
The programmes under 5 – 10 are useful and relevant to infocomm professionals. In FY2012 (Apr 2012 to Mar 2013), a total of about 11,400 infocomm professionals participated in the programmes.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Capacity and Skills Building
(cont…)
/ 10. Critical Infocomm Technology Resource Programme (CITREP) - is a training incentive programme to equip Singapore infocomm professionals with critical and emerging skills to enhance their employability and to improve their organisations' competitive advantage.
The programme supports the course and examination fees for endorsed courses and certifications.
11. International Enterprise (IE) Singapore’s Global Company Partnership (Capability Building) and Market Readiness Assistance (Learning)– : IE Singapore helps Singapore-based companies equip themselves with information, capabilities and skills essential for export and overseas expansion. These capabilities may include branding, design, e-commerce, finance, intellectual property, internationalisation strategy, export supply chain management.
Area
/ Programmes and policies being implemented / Programmes and policies to be implemented / Progress made since June 2012Women’s Leadership
/ Singapore adopts a whole-of-government approach on women matters.Existing Programmes
1. Women’s Register – set up by the Singapore Council of Women’s Organisations, it is a platform for networking, education, mentorship and inspiration. It reaches out to women from 18 years old onwards, through dialogue sessions, and/or career clinics. / The proportion of women holding leadership positions has increased steadily over the years.
Women are making their presence felt in the business scene. In mid-2012, women make 27.3% of employers in Singapore, up from 19.4% in 2002. In addition, 7.3% of directors of SGX-listed companies are women.
Female representation in the Singapore Parliament has increased. Following the General Elections in May 2011 and the by-election on 26 January 2013, the number of women in Parliament rose from 21 out of 94 seats (or 22.3% of total) to 25 out of 99 seats (25.3% of total)[3]. This percentage exceeds the Inter-Parliamentary Union’s world average of 20.9%[4].
Our first woman Speaker of Parliament was appointed on 14 January 2013.
For judicial appointments, as at 31 Dec 2012, women made up 50.5% of Subordinate Court judges and 17.6% of Supreme Court judges.
The Women’s Register has 222 mentees as of Jan 2013. The mentors present a wide range of industries, from banking, medicine,academia, to arts and non-profit. They are highly qualified professionals and possess many years of working experience. Positions they hold are either Managing Directors in their respective companies or senior positions in multinational corporations. The mentees include students, young working adults, mid-career
Area