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More SMEs turning to Government for aid amid tight labour market, rising costs

Published on Feb 19, 2013 12:01 PM
 
An engineer from Manufacturing Integration Technology (MIT) checking on a machine in the firm's production room. With rising business costs and a tight labour market putting the squeeze on businesses here last year, more small and medium enterprises (SMEs) turned to Spring Singapore for aid. -- PHOTO: CAROLINE CHIA

With rising business costs and a tight labour market putting the squeeze on businesses here last year, more small and medium enterprises (SMEs) turned to Spring Singapore for aid.

Spring provided help to 5,600 small and medium enterprises (SMEs) with productivity improvements last year, 19 per cent more than in 2011, Spring revealed at its annual Year-in-Review briefing this morning.

Altogether, Spring committed $110.8 million in grants last year, up from $95.5 million the year before, said Spring chief executive Png Cheong Boon.

Of those helped last year, 72 per cent were small and micro SMEs.

 
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