en
Singapore
SINGAPORE, 28 March 2026 — The Association of Small & Medium Enterprises (ASME) today officially launched the ASME Women’s Initiative, a programme dedicated to growing the female entrepreneurship community and increasing women’s representation in leadership roles. The launch, graced by Guest-of-Honour Ms Gan Siow Huang, Minister of State, Ministry of Trade and Industry & Ministry of Foreign Affairs featured the ceremonial exchange of Memorandum of Understanding (MOU) certificates with WEConnect International, formalising a partnership to provide Singapore’s women-owned businesses with a structured pathway to global markets.
The initiative arrives as women-owned companies increasingly anchor the Singapore economy. According to the Singapore Department of Statistics, the number of women-owned companies grew from 16,300 in 2010 to 36,000 in 2022. These firms now account for 25.6% of all resident-owned companies and generated S$85.3 billion in revenue in 2022.
Despite this growth, data highlights that women-owned firms are likely to be younger and have smaller revenue sizes than the broader market, with 38.8% of these firms being five years old or younger. The ASME Women’s Initiative is strategically designed to address these gaps through three key pillars:
A key driver of this initiative’s success is the partnership with WEConnect International, whose mission is to empower women business owners to compete in the global marketplace.
“Our mission is to ensure women-owned businesses are not merely participants in the global economy, but competitive leaders within it,” said Ms Mrinalini Venkatachalam, Regional Director, WEConnect International. “Through our partnership with ASME, we are connecting Singapore’s women entrepreneurs to our global network of multinational buyers, creating real pathways for them to scale their businesses and fuel more inclusive economic growth.”
Thriving goes beyond economic success. An often-sidelined key driver of success in the rush to scale is the entrepreneur’s health and wellness. Proactive health management is a business strategy itself with the event emphasising the necessity of staying “fit to lead” through preventative care and screening. As part of preventive care for women, issues like cervical cancer and HPV prevention is especially relevant as we commemorate the World International HPV Awareness Day this March. Especially noting that cervical cancer is the only preventable cancer in the world through regular screening and vaccination.
“As entrepreneurs, we are the engines of our businesses, and an engine cannot run without maintenance,” added Ms Hamidah Mustafa, Vice President of ASME. “Safeguarding our mental, physical and emotional wellbeing is vital to remaining resilient leaders. By taking care of ourselves, going for cervical cancer screening and HPV vaccination, coupled with addressing health issues openly, we ensure the longevity of our businesses and the growth of our economy.”.
Reflecting ASME’s commitment to a holistic entrepreneurial journey, the ASME Women’s Initiative intends to cultivate a supportive community that provides a platform for women entrepreneurs to connect, share experiences, and collaborate with like-minded individual
The launch event also featured the Inspiring Female Entrepreneur Stories prize-giving ceremony, where two founders were recognised for their resilience and drive for success. The event concluded with a fireside chat on women’s wellness and health, featuring experts such as Dr Angela Tan.
About the Association of Small & Medium Enterprises (ASME)
ASME is a not-for-profit organisation established in 1986 for entrepreneurs, by entrepreneurs. With wide-ranging services and programmes, ASME strives to equip member SMEs with the business knowledge and market opportunities to help them grow their businesses.
ASME, as the champion of a pro-enterprise Singapore, bridges the public and the private sectors to promote a more conducive business environment which facilitates the start-up, growth, and development of a larger pool of SMEs. The two ASME flagship awards — The Entrepreneur of the Year Award and Singapore Prestige Brand Award are in recognition of SMEs’ successes.
ASME will continue to roll out new SME-relevant programmes to enhance its position as THE business association For Entrepreneurs, By Entrepreneurs.
About WEConnect International
WEConnect International is the leading global non-profit dedicated to driving money into the hands of women business owners by connecting them with large corporate, multilateral, and government buyers around the world. Its 180+ member buyers represent more than $4 trillion in annual purchasing power and are committed to sourcing from women-owned businesses in over 135 countries.
WEConnect International identifies, educates, registers, and certifies businesses that are at least 51% women-owned, managed, and controlled, providing Women’s Business Enterprise Certification in over 60 countries. With a global network of 20,000+ women-owned businesses, WEConnect International is committed to unleashing the full economic potential of women-owned businesses worldwide.
Media Contacts:
ASME
Celestyn Karuppiah
Strategic Communications & Planning Lead Tel: +65 6513 0894
Email: celestyn@asme.org.sg
Siti Zulaikha
Corporate Communications Executive Phone: 9637 4173
Email: zulaikha@asme.org.sg
WEConnect International
Mrinalini Venkatachalam Regional Director Phone: 81235818
Email: mVenkatachalam@weconnectinternational.org
