Enterprising and innovative Budget 2016

THIS year's Budget is one that is both prudent and targeted at helping businesses that are enterprising and innovative. The outcomes of innovative discovery will drive new products and services, which will in turn help fast-growing medium enterprises (FGMEs) develop new business models and markets. In the long term, these Singapore blockbuster companies will inevitably emerge and thrive, given the right environment and resources.

Clearly, the journey to being a blockbuster company is not an easy one. Even FGMEs are experiencing slower growth in light of the current sluggish global demand caused by the restructuring of major economies and the fall in oil prices.

In addition, technological disruptions to global supply chains are causing major shifts in how industries operate. Hence, it would be folly for companies to assume that it will be business as usual even in the short term, let alone, the medium to long term.