SINGAPORE - United Overseas Bank (UOB) teamed up with Singapore Management University (SMU) to launch the finance industry's first tertiary education programme designed for small business bankers.
"As Singapore's small businesses expand into new markets, they may face challenges such as international trade risk, complex customs regulations or having access to increased working capital," UOB said in a statement on Thursday.
The UOB-SMU Banker's Executive Certificate programme will impart specialist skills and knowledge that bankers need to handle the expansion demands of small businesses.
The course includes classroom-based study in credit and risk management, trade financing and regional regulatory frameworks, and adds on practical skills training.
Small businesses are the backbone of Singapore's economy, accounting for 99 per cent of local enterprises, noted UOB.
"Of the 28,000 local businesses that expanded overseas in 2014, more than 80 per cent were small to medium enterprises," it added.
Mr Victor Lee, head of business banking at UOB Group, said: "Many small businesses are looking at overseas markets to fuel their growth and UOB is committed to helping its customers expand successfully and meet their growth ambitions."