A new Government-led workgroup to help small and medium-sized enterprises (SMEs) will work to streamline existing schemes and policies targeted at SMEs.

It will also oversee the implementation and progress of these programmes and strengthen engagement with the business community.

The workgroup, led by Minister of State for Trade and Industry Teo Ser Luck, includes 16 other Members of Parliament, seven representatives from business chambers and agencies and five business leaders.

Eleven government ministries and agencies such as Spring Singapore and the Ministry of Trade and Industry are also part of the workgroup.

The members of the workgroup will be divided into two sub-committees. The advisory sub-committee, comprising the MPs, will lead outreach and engagement efforts while the business and government sub-committee will review government policies related to SMEs.

"This is the first time we've got everyone together," said Mr Teo.

"They've asked to be included in this workgroup so that they can help SMEs to overcome the challenges they face in restructuring and raising productivity."