Today, businesses often have to find these services one by one, in each market they enter.
A new regional network aims to change that.
The Professional Services (PS) Centre Singapore, officially launched today by Ms Indranee Rajah, Minister in the Prime Minister's Office, Second Minister for Finance and National Development, is the latest addition to a growing network of Professional Services Centres that connects businesses with trusted professional expertise across Asia.
Located at Level 2 of ISCA House, the Singapore PS Centre will serve as the anchor hub of the regional network, linking businesses to PS Centres in Hongqiao (Shanghai), Ho Chi Minh City and Nanjing, with Jakarta expected to join later this year. Future centres are also planned in Bangkok, Johor Bahru and Shenzhen.
Rather than building another office, the PS Centre is building something different, a trusted regional network where businesses can access local knowledge, professional expertise and business connections through one coordinated platform.
The initiative is led by the PS Centre Alliance, comprising the Association of Small & Medium Enterprises, Institute of Valuers & Appraisers Singapore, Singapore Business Federation, Singapore Chinese Chamber of Commerce & Industry, Singapore Manufacturing Federation, Tax Academy of Singapore, The Law Society of Singapore and the Institute of Singapore Chartered Accountants (ISCA).
Helping businesses solve real problems
As businesses expand across borders, the challenges they face have become more complex. They are no longer limited to setting up an office or understanding local regulations. Companies today are responding to geopolitical shifts, changing trade policies, supply chain realignment, AI disruption, cyber risks and growing sustainability expectations, while trying to build trusted relationships in unfamiliar markets. No single profession can solve these challenges alone.
The PS Centre brings together professionals from different disciplines, including legal, accounting, tax, corporate secretarial, HR, valuation, sustainability and business consulting, so businesses can access coordinated support instead of approaching each profession separately.
Beyond professional advice, businesses can tap on local business associations, government agencies, chambers of commerce and ecosystem partners connected through the PS Centre network.
More than a networking platform
The Singapore PS Centre will also introduce the Business Growth Clinic, a new initiative where business owners can bring real business challenges to a multidisciplinary panel of professionals.
Whether the challenge is expanding overseas, adopting AI, raising capital, restructuring a business or planning succession, businesses will receive practical guidance and be connected with the right professionals to help move their plans forward.
Early results from the network
Although the network is still in its early stages, businesses are already seeing results. Through the Shanghai PS Centre, Singapore based accounting firm Unity Assurance secured new business opportunities in China and subsequently established a joint venture with a local partner.
The Nanjing PS Centre supported firms such as Morningstar and Fiducia LLP with local business introductions, office setup and talent connections as they expanded into China. In Vietnam, the Ho Chi Minh City PS Centre has supported Singapore businesses such as Koda Ltd and JDI Ventures in navigating different aspects of regional expansion, such as guidance on pressing cross-border matters and local business introductions to support market entry. The Centre has also connected Vietnamese technology companies such as Techvify and Vinova with relevant networks and market insights to support their entry into Singapore.
These examples demonstrate how trusted local networks can shorten the time needed for businesses to enter new markets while reducing uncertainty.
Strengthening Singapore's position as a trusted business hub
The Singapore PS Centre complements Singapore's position as a global business and financial hub by extending trusted professional services into key markets across Asia.
As more centres are established, businesses will be able to tap on one connected network instead of building relationships from scratch in every country.
For Singapore professional services firms, it also creates new opportunities to support clients expanding overseas and to build partnerships with firms across the region.
Mr Lee Boon Teck, President, ISCA, said: "Business is becoming increasingly regional, but professional services are still largely organised country by country. Companies expanding overseas often spend months trying to identify trusted advisers and build local networks. The PS Centre network changes that. We are bringing together trusted professional firms, business associations and local partners across Asia, making it easier for businesses to expand with confidence. Our vision is simple. Wherever a business chooses to grow in Asia, there should be a Professional Services Centre ready to support that journey."
Ms Junie Fo, Vice President & Head, Professional Services, Singapore Economic Development Board, said "Professional services firms play a critical role in helping Singapore-based enterprises navigate the rapidly evolving global business environment. The Singapore PS Centre will provide access to different professional services to support enterprises' regional growth needs. EDB looks forward to working with members of the PS Centre Alliance to advance the Professional Services ecosystem."
About the Professional Services Centre
The Professional Services Centre is a collaborative initiative by the PS Centre Alliance to support businesses expanding across borders through trusted professional expertise, local business networks and market access. The network currently spans Singapore, Hongqiao (Shanghai), Ho Chi Minh City and Nanjing, with further expansion planned across Asia and the Middle East.
Hashtag: #ISCA #CharteredAccountants #ProfessionalServices #ProfessionalServicesCentre #DifferenceMakers #Accounting #Accountancy
The issuer is solely responsible for the content of this announcement.
Hashtag.net.au
