Finding it hard to grow?

FOR over a decade now, the government has made a concerted push to foster a culture of entrepreneurship here, with the aim of grooming a core of homegrown enterprises that can go on to be regional or global champions.

As the Singapore economy undergoes a period of adjustment, renewed focus has been placed on the role of local businesses in driving the next phase of our growth.

This effort has yielded results on many fronts, whether in the form of more frenetic startup activity on the ground, or the high-profile acquisitions of local tech companies.

Despite these successes, many SME owners are struggling to grow their businesses amid a tough operating environment.

One perennial bugbear for SMEs is the transition to their next stage of development. Perhaps recognising this dilemma, the government in this year's Budget unveiled a new set of measures to further boost its already generous sup…