Building S'pore's next blockbuster companies
FGMEs have potential as they are fast growing, highly scalable firms.
Add BT as a preferred sourceTHE current uncertain global economic outlook and Singapore's on-going economic restructuring present a window of opportunity to fast-track high potential enterprises in an endeavour to produce Singapore's next blockbuster companies. It is critical that the government focuses on fast-growing medium-sized enterprises (FGMEs). FGMEs, alongside other local small and medium-sized enterprises (SMEs), contribute almost half of Singapore's gross domestic product (GDP), employ approximately 70 per cent of Singapore's workforce and are responsible for placing the Singapore brand on the global stage.
Successful examples include Hyflux, Wilmar, OSIM and Tee Yi Jia Group - global enterprises that were once FGMEs. FGMEs present a significant potential to form Singapore's next set of global blockbuster companies. They are fast growing, highly scalable companies within the Singapore enterprise ecosystem.
The government can play a key role in helping FGMEs grow even faster. Given the present economic scenario, Budget 2016 should lend increasing support to government-to-enterprise collaboration in three focal areas. Let's call this the 3-I approach:
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