American Express and Singapore Airlines are extending their 20-year partnership with the launch of the American Express Singapore Airlines Business Credit Card. This new Card will help SMEs better manage their businesses, fund their expansion efforts, all while enjoying a number of premium travel benefits.
According to a survey by American Express and Singapore Airlines, most SME owners are bullish — with more than 74% expecting to grow their businesses in the next 12 months. That said, more than half of the respondents say that increasing competition and cash flow management keep them up at night, and one in three feels challenged taking their business overseas.
“Our survey shows that Singapore SMEs are optimistic about growth, but cash flow and overseas expansion are ever-present concerns,” said Mr. Geoff Begg, Senior Vice President, Global Commercial Services for Asia Pacific, American Express. “American Express and Singapore Airlines are bringing the first SME business travel card to give them access to credit terms, more savings, and a suite of travel benefits — to support their ambitions and help them overcome these challenges.”
“Singapore Airlines’ HighFlyer Programme was launched two years ago to reward and support SMEs, including in their endeavours to expand overseas,” said Mr. Campbell Wilson, Senior Vice President Sales and Marketing, Singapore Airlines. “We are excited to now partner American Express to take the programme further with the new American Express Singapore Airlines Business Credit Card. This new product enables SMEs to maximise their HighFlyer privileges by earning more rewards faster, which can be redeemed for a range of benefits that improve their bottom line even as employees themselves continue to earn KrisFlyer miles for their own personal benefit.”
According to the SMEs Go Places Survey, SME owners travel at least once every six weeks for business, while 70% of SMEs have employees travelling two or more times per month. These frequent travellers prioritise value, convenience and flexibility, with 47% citing the importance of having complimentary travel insurance when it comes to corporate airline programmes. Nine in 10 SMEs surveyed have dealings overseas, with one in three of them citing lack of access to capital and cash flow as key inhibitors to international expansion.
“SMEs have different needs and they don’t always get the same level of support as larger companies. Our survey reaffirms this as 59% of SMEs said partnering established companies for guidance and support would have made their expansion overseas easier. This is precisely why American Express and Singapore Airlines are bringing the first business travel card for Singapore SMEs to support them by turning their business expenses into rewards,” said Ms. Celine Chua, Vice President, Global Commercial Services for Singapore, American Express.
ABOUT SMES GO PLACES SURVEY
In June 2019, American Express and Singapore Airlines commissioned the SMEs Go Places Survey online to study 200 Singapore SME senior executives’ outlook, experience going overseas, and their business travel habits. The respondents’ businesses have annual revenues of under S$20 million.