According to a study conducted by SMU’s Business Families Institute (BFI@SMU) – which surveyed 83 family firms in Singapore between December 2018 and May 2019 – these businesses found it challenging to grow, given Singapore’s small market size. Led by Professor Annie Koh, SMU Vice President for Business Development, V3 Group Professor of Family Entrepreneurship and Academic Director of BFI@SMU, the study looked at how family businesses approach innovation. About 74% of the participants indicated that innovation is important amid heightened competition. But 83% of these firms said growing the business is also restricted by the domestic market size. In terms of overseas expansion, most listed finding the right talents and partners as main hurdles.
The Edge Singapore (Aug 16) 
The Edge Singapore (Aug 16)