Techblog
NEWS: SMEs want more help from Government
Original article from Today Online
In spite of an aggressive productivity drive – with millions of dollars ploughed into the national effort – just slightly more than half of the respondents in a survey of managers in small and medium enterprises (SME) agree with the Government’s call for higher productivity.
At the same time, one in two felt the Government is not doing enough to “help support businesses become more productive”.
Nevertheless, in the face of a manpower crunch, two in three SME managers said they have implemented some productivity measures on their own such as sending more staff for training and development courses as well as upgrading current equipment and technology.
The survey also found that most SME managers are aware of Government assistance programmes, but application to the schemes appears to be relatively low, ranging from 18 per cent for investment funds/equity financing to 40 per cent for tax incentives.
The survey, SIM Management Monitor, was conducted by the Singapore Institute of Management (SIM) between June and July.
It seeks to provide a deeper understanding of management attitudes, outlook and landscape here. As part of the survey, 230 SME managers were polled, out of a total of about 780 respondents.
According to observers, the findings suggest that the Government has to do more to reach out to decision-makers in SMEs, which form the lifeblood of the Republic’s economy, to get them to utilise the available schemes.
SMEs contribute to half of Singapore’s gross domestic product and employ 7 in 10 of the workforce here.
Currently, SMEs can seek help from SPRING Singapore through its five enterprise development centres as well as its EnterpriseOne portal, which offers one-stop help.