14 Feb '11, 4am

SPRING To Launch More Upgrading Schemes To Boost Productivity For SMEs: Enhanced measures to help more SMEs exce...

Small and medium enterprises (SMEs) across 12 different sectors can expect to benefit from more upgrading as SPRING Singapore launches more productivity programmes in 2011. Some of the sectors identified include: retail food services food manufacturing general manufacturing SPRING estimates the upgrading programmes will add S$4.8 billion to Singapore's economy in the next two years and create some 16,000 new jobs. The aim is to help about 1,000 SMEs exceed annual revenues of more than S$100 million by 2020. Meanwhile, SPRING revealed that it gave out S$2.7 billion in loans to SMEs last year - far less than the S$6.1 billion in 2009 - as commercial lending from banks returned to pre-financial crisis levels. Sources: "Loans worth S$2.7b issued to SMEs last year ", Channel NewsAsia, 11 February 2011 "SME loans: Banks step up, Spring steps back", The Business Times, 12 Februar...

Full article: http://www.business.gov.sg/EN/News/20110214MoreUpgradingS...

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