Call for holistic SME development in Budget 2015 recommendations

SME Committee says more comprehensive data on SMEs will help companies and industries plan ahead

Mindy Tan

Published Wed, Jan 7, 2015 · 09:50 PM

Singapore

A MORE holistic approach to small and medium-sized enterprise (SME) development is needed, with more detailed data points, backed by a single SME authority, said the SME Committee (SMEC) on Wednesday, as part of its Budget 2015 recommendations.

More comprehensive and coordinated data about SMEs will help not only companies, but also industries, plan ahead, it said.

"I think the data is available, it's just that it is not currently the priority of the government to put out the data in a comprehensive way," said Ho Meng Kit, Singapore Business Federation's (SBF) chief executive.

"If you believe SMEs are important, it's important for us to know what's happening with SMEs - how many SMEs are formed? How many are failing? Where are they exporting…

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