Have a one-stop shop; ditch the one-size-fits-all approach

SMALL and medium sized enterprises (SMEs) are the primary focus and largest beneficiaries of the economic measures in Budget 2017 and the Committee on the Future Economy (CFE) report.

It may therefore not come as a surprise that the Ministry of Trade and Industry unveiled plans to merge IE Singapore and SPRING Singapore recently.

We believe the merger will benefit SMEs. While government support in growing the SME ecosystem is appreciated, this merger answers the call we have heard from local enterprises for a long time now.

Many across different industries have told us that they would feel more assured with one specific agency supporting their growth and related needs.

SMEs often face increasingly complex challenges, such as manpower constraints, rising costs and relentless competition from bigger companies. They are also under pressure to deliver improved business results, increase customer satisfaction, improve competitive standing and enha…