HSBC Singapore has officially launched HSBC Pioneer, an exclusive 12-month programme for fast growing businesses, offering a suite of next-level banking and services that provide selected firms with tailored solutions to meet their burgeoning needs.
HSBC Pioneer is by invitation only. SMEs normally don’t have access to the full suite of banking services that large multinational companies have. Pioneer opens up some of these services to members, offering them flexibility, support, expertise and future focus solutions.
Pioneer’s proposition provides members with:
Singapore is one of the first countries in the HSBC network to launch Pioneer and reflects the success this city-state has had in incubating and accelerating the growth of local companies. The number of SMEs has seen an average annual growth rate of 4.5% in the past four years.
HSBC understands that SMEs often need to enter new markets in order to expand – which brings with it its own set of challenges. In a recent report by the Singapore Business Federation, 77% of companies surveyed indicated their intentions to expand in 2018-2019. Of these, 77% identified ASEAN as the target region, followed by China (22%) and South Asia (15%).
Ng Li Lian, Head of HSBC Singapore’s Business Banking sees the Pioneer proposition as a boost for promising SMEs: “Pioneer is essentially HSBC’s accelerator programme for promising and ambitious small and medium enterprise enabling them to grow beyond Singapore’s borders and scale new heights. The new proposition is HSBC’s way of recognizing and reaffirming our faith in our SME partners and provides them with the necessary tools and support to enable them to thrive further.”
One such fast growing Singapore company that’s beginning to enjoy the benefits of being a Pioneer is The Golden Duck – maker of Singapore’s salted egg yolk chips. Mr. Christopher Hwang, co- founder of the gourmet snack company, feels that Pioneer has given them the opportunity to work more closely with HSBC on their company’s expansion needs.
“We managed to secure funding for our rapid expansion and production and we also had the chance to attend the bank's exclusive corporate events which were a valuable source of information and excellent platform for networking,” said Mr Hwang.
Ms Ng continued: “Pioneer recognises the potential of this particular class of SMEs. We want to support the drive and commitment these businesses possess and help keep their momentum going. We believe that with additional support, we can help businesses like The Golden Duck, reach their next level of growth.”
The launch of Pioneer aligns with HSBC’s commitment to growing SMEs in Asia and specifically in Singapore.
As it enters a new growth phase, HSBC aims to play a vital role in supporting Singapore’s ambition to be a hub for global trade and startups.
Earlier this year, HSBC Singapore announced a new country strategic plan that included building its people, product and technology capacities across its global and commercial banking businesses. The roll out of HSBC Pioneer is part of the plan to accelerate growth through the development of SME businesses in Asia, as well as its presence in ASEAN.
Mr Alan Turner, Head of Commercial Banking for HSBC Singapore, said, “Singapore has always been a priority market for HSBC. The Pioneer programme exemplifies our belief in the quality and potential of SMEs in the country.”
For more information on HSBC Pioneer, go to www.business.hsbc.com.sg/pioneer.