Majority of Singapore public tenders won by SMEs: study
Add BT as a preferred source
Fiona Lam
SMALL and medium-sized enterprises (SMEs) in Singapore have been successful in securing public projects, with 79 per cent of the contracts awarded by all ministries having gone to SMEs rather than MNCs, a study by analytics firm VSC showed.
The study also found a high correlation between a company's financial strength and the level of success in winning public tenders.
In collaboration with the National University of Singapore (NUS) Business School, VSC had evaluated data from 11 ministries, 16 industries, and 50 companies since 2012.
The study also identified the obstacles faced by enterprises, the potential benefits for SMEs when they bid for public projects, and recommendations to help improve SMEs' chances of winning tenders.
Copyright SPH Media. All rights reserved.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Singapore workers experiencing rising anxiety; signs of fallout from pressure to use AI
