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A single SME authority not viable: Spring Singapore

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Spring Singapore dismissed on Friday the SME Committee's recommendation for a single SME authority, saying that the expertise provided by the different agencies are too different.

SPRING Singapore dismissed on Friday the SME Committee's recommendation for a single SME authority, saying that the expertise provided by the different agencies are too different.

"IE Singapore's skills are on trade, trade exhibitions, and opening doors. And for that it has offices overseas. Spring focuses on companies here, helping them grow locally, and then (we) export them to IE," said Philip Yeo, chairman of Spring Singapore.

"So this idea of one-stop shop for everything doesn't make sense .... If you are sick you don't see one doctor, you see different doctors for different treatments. This is the same ... they want us to be a GP (general practitioner)?"

The SME Committee had, as part of its Budget Wishlist, argued the merits of a single SME authority. Having such an authority, they said, would allow a more comprehensive and coordinated approach towards managing SME issues and policy implementation across the whole-of-government.

For more stories, analysis and infographics on Singapore Budget 2015, head to btd.sg/budget_15.