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