9 months into the Trump presidency, and the world is still reeling from the come and go up and down tariff rates emnating from the White House. It upends global businesses who depend on :
- stability of trade relations between blocs or countries
- a free world with as little conflict as possible
- trust between long established partners who have had successful win - win trade arrangements for multiple decades since WW2.
All 3 of the above factors are thrown out the window. The case is now for multilateralism and small countries like Singapore as especially vulnerable to the 'changes in the wind'.
What we can and should do ? Embrace Multilateralism and Run with the Ball
1. Companies (small in particular) - to come together, network and work together to form strategic alliances across continents for the mutual advancement of their goals.
We currently are signing 2 MOUs and agreements with some players in the more established part of the world in our field of biomedical testing to promote shared goods and services.
2. Adoption of :
Digitization in Company Systems
My company is embarking on this now, to put into place a document management system on the cloud as well as digitization of reports and data for data retrieval in the long run.
AI for marketing for social media maximization
The world needs access to the best and most competitive goods and services. If your company is a major player in a small niche, advertise the fact regionally and globally.
Scale up the business to capture global demand.
We secure business from Europe, US and Australia apart from Asia nowadays quite regularly. This is unheard of for us 10 years ago.
Connect with Big Players for funds, experience and opportunities.
There is no time better than now to do this. Reach out the big players who have decades more experience and reach in the industry you specialise, and connect.
You will be surprised at what may turn out.
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