For subscribers
Singapore SMEs need MNC contracts to escape ‘the small size trap’
The Pact scheme extension can accelerate capability building and enterprise transformation in SMEs.
Sign up now: Get ST's newsletters delivered to your inbox
Leaving it to market forces will not lead to flourishing courtships between MNEs and local SMEs, says the writer.
ST PHOTO: LIM YAOHUI
Follow topic:
Large multinational corporations (MNCs) are an important driver of Singapore’s economic growth. Many are innovative firms engaged in cutting-edge work in high-growth sectors that employ a number of Singaporeans.
But one other benefit often flies under the radar: MNCs provide business opportunities for local small and medium-sized enterprises (SMEs) to grow and develop, aiding them to upskill their workforce and helping them escape what Harvard Business Review terms “the small size trap”.
