22 Mar '11, 9pm

Government has broadened the definition of Small and Medium Enterprises

SINGAPORE - The Government has broadened the definition of Small and Medium Enterprises (SMEs). The Ministry of Trade and Industry yesterday announced the new definition, which is based on sales turnover and employment. Speaking at an industry conference, the Ministry's Senior Parliamentary Secretary Sam Tan said that enterprises with not more than S$100 million in annual sales, or employing 200 or fewer workers, will be defined as SMEs. This new definition will apply across all sectors with effect from April 1. Currently an SME is classified as a manufacturing enterprise with no more than S$15 million in fixed-asset investment, or a non-manufacturing business with 200 or fewer employees. By using sales turnover instead of fixed-asset investment as a criterion, the revised definition better reflects the changing profile of SMEs here. "The new definition reflects the changi...

Full article: http://www.todayonline.com/Business/Enterprise/EDC110323-...

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