Spring helped over 20,000 enterprises, 300 startups with restructuring efforts in 2015
SPRING Singapore reported on Friday it had helped over 20,000 enterprises and 300 startups with restructuring efforts in 2015, about twice the number of companies it had supported in 2014.
The more than 20,000 enterprises last year embarked on 22,000 projects which, when fully implemented, would create 19,500 jobs and contribute S$6.9 billion in value-add to the economy, Spring said.
More SMEs and startups have leveraged Spring's assistance. For instance, with the "simplified" Capability Development Grant application process, the number of enterprises that tapped this grant increased by 30 per cent from 1,000 in 2014 to 1,300 in 2015, going by Spring data.
Last year, Spring and its partners also supported more than 300 startups, up from 160 in 2014.
Said Spring chief executive Poon Hong Yuen: "Innovation and internationalisation are very important for the growth of enterprises. Spring will continue to help our SMEs (small and medium enterprises) in their efforts to restructure and upgrade their capabilities to create good jobs for Singaporeans."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
SMEs
Fintech KPay aims to triple Singapore merchant base, double local workforce
Singapore SMEs in contractionary mode for fifth straight quarter: OCBC
B2K’s second-generation leaders paw a new path in pet products
Finding a growth vector with digital solutions
Striking while the flat iron’s hot
From leasing steel plates to renting out buildings