Some S$330 million (US$260 million) has been committed for productivity initiatives as of September, 2013. That is according to latest figures from the Ministry of Trade and Industry. The funds went to some 15,000 companies, of which 90% are small and medium-sized businesses (SMBs). As Singapore enters its 5th y
Some S$330 million (US$260 million) has been committed for productivity initiatives as of September, 2013.
That is according to latest figures from the Ministry of Trade and Industry.
The funds went to some 15,000 companies, of which 90% are small and medium-sized businesses (SMBs).
As Singapore enters its 5th year of restructuring in 2014, more local SMBs have tapped government funding to increase the use of automation.
Industry experts said SMBs can also boost productivity by increasing its top line. This, for example, can be done by breaking into new overseas markets, where profit margins may be higher.
SPRING Singapore said companies can also improve productivity through increasing their range of products and services, or by raising service quality.