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SMEs expected to create S$8b value-add through upgrading projects: Spring

WHEN fully implemented, the 12,000 upgrading projects endorsed by Spring Singapore and undertaken by the 9,000 small and medium-sized enterprises (SMEs) are expected to create S$8 billion value-add for the economy and 22,000 jobs.

Of the SMEs helped, close to 90 per cent were micro and small enterprises, ie, they have annual revenue of S$10 million or less, said Spring at its Year-In-Review event on Friday.

Together with its partners, SPRING reached out to some 160,000 SMEs in 2014.