SMEs won bulk of public tenders in H1 2014
SMEs need to be more proactive in managing balance sheets to tender for public projects: study
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Fiona Lam
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Singapore
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 in the first half of 2014, 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. As a result, SMEs need to be "more proactive in managing their balance sheets" when it comes to public tenders, VSC said.
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