SBF to launch study on SMEs' access to government contracts

THE SME Committee (SMEC) led by the Singapore Business Federation (SBF) announced two initiatives on Wednesday, aimed at supporting small and medium-sized enterprises (SMEs) in weathering rising cost pressures.

The first is a study of how SMEs can gain greater access to government contracts, since the S$10 billion worth of contracts put up every year can help them build up their experience and track record.

The second initiative is the Fair Tenancy Consideration Framework, which spells out the general elements of an equitable-tenancy agreement for SMEs - including terms and liabilities, tenancy renewal and termination and the transparency of fees and charges.

The initiatives were unveiled at the SBF SME Convention 2014, held at Suntec City Convention Centre on Wednesday.