Govt help schemes reaching more SMEs during this tough period, says Tharman

Singapore

DEPUTY Prime Minister Tharman Shanmugaratnam, acknowledging that small and medium-sized enterprises (SMEs) in Singapore are going through a tough period now, said on Friday that he was heartened that more SMEs have been coming forward to take advantage of government schemes.

Since the launch of the SME Working Capital Loan in Budget 2016, more than S$500 million in loans have been made out to over 3,000 SMEs, he said. He also noted that since the start of the year, more than 23,000 grants have been awarded to support businesses which are investing in innovation, productivity or overseas market access - and that more than half of these grants will go to SMEs.