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Why fewer grants can be a good thing for small businesses

Government grants may be drying up, but small businesses can still innovate and disrupt the market.

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SMEs have been slow to take up new tools. A study by the Singapore Business Federation found 60% of SMEs agree they need to adapt their business model with technological disruptions yet only 24% have taken significant steps.

SMALL and medium-sized enterprises (SMEs) play a significant role in the Singapore economy. They make up 99 per cent of the country's enterprises, employ two-thirds of the workforce, and contribute about of half of the country's gross domestic product.

But the SME sector is facing a...

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