Newsroom

Good morning

Minister of State Gan Siow Huang

Distinguished guests and fellow entrepreneurs,

I stand here today as the Vice President of ASME as well as a woman entrepreneur who has navigated the tech industry for nearly a decade. When I first started Parrot Social, I often received blank looks when I said I do Data Analytics because at that time analytics and AI were simply not trends back then. But the world has come a long way since and so has our outlook on women in business.

At ASME our mission is to enable vibrant and growing SMES. Today we take a significant step forward by ensuring that women are leading that vibrancy.

The landscape for women-owned businesses is transforming. The number of such companies in Singapore have grown from 20% of the economy in 2010 to 25% in 2022. However, the data also shows that women-owned firms are likely to be younger and have smaller revenue and employment sizes compared to the broader market.

To bridge this gap and move from individual success to systemic growth, we need a structured pathway. We have identified a clear need for targeted capacity building and direct connections to international markets. This is why we are formalising our partnership today with WEConnect International. By combining ASME’s local deep-rooted SME expertise with the global reach of WEConnect International, we are creating a powerful ecosystem designed specifically to help women-owned businesses scale beyond our shores.

Through the Memorandum of Understanding with WEConnect International, we not just aim to grow our female membership base and provide a supportive environment that helps women thrive both locally and internationally, but to achieve our ultimate goal in having more women in leadership.

Being part of the ASME network ensures you have a community behind your journey. Through ASME, entrepreneurs can tap on capacity building focused on strategy, innovation, and investment-readiness. Members can also access opportunities such as the $10 Million ring-fenced grants for business transformation and AI adoption. We also will offer a space where female founders can share the realities of seeking funding, the specific struggles of women entrepreneurs, or any issue that comes their way. Additionally, with our partnership with WEConnect International, we are opening doors to a global network of qualified MNC buyers to help our members scale.

Today, we are also dedicating a significant part of our programme to a topic that is often sidelined in the rush to scale, which is women’s health and wellness. As entrepreneurs, we are the engines of our businesses, and an engine cannot run without maintenance. Entrepreneurship is emotionally and physically demanding. I think most of us in the room who are entrepreneurs can attest to that, and we must safeguard our health to remain resilient leaders.

Mental health is a very important aspect and remains an area of focus and which has gotten quite a bit of spotlight over the years. However, other important matters that often are overlooked is one’s own physical or even sexual health given our very busy schedules. Proactive health management is a business strategy in itself. This is especially relevant as we commemorate the World International HPV Awareness Day. and here at ASME Women’s Initiative, we will partner with the Alliance for Active Action Against HPV to encourage early cervical cancer screening and also preventative HPV care.

Cervical Cancer, primarily caused by HPV infection, is largely preventable yet there has been an increase in incidence in women aged 30 to 39 due to a low uptake of cervical cancer screening. We must encourage one another to go for screening when they are eligible and to take the HPV vaccination, ensuring we stay fit to lead. Today we are pleased to have Dr. Angela Tan who is on our panel, who will also discuss integrative sexual wellness, a topic that is vital to our overall health as we age.

By taking care of ourselves, both our physical and mental health, we ensure the longevity of our businesses. When women are healthy, supported, and empowered, I believe that the entire economy grows together with us. I wish all of you a wonderful day ahead and enjoy the shopping spree later, and I’ll see you.