Singapore: Over 8,300 SMEs to benefit from industry-led projects: Spring, IE Singapore – 25 Jul 2017

  • More than 8,300 local small and medium-sized enterprises (SMEs) are expected to benefit from a slew of projects led by trade associations and chambers (TACs) in the year since May 16.
  • The projects focus on areas such as productivity improvements, access to markets, digitalisation and technology adoption, said Spring Singapore and International Enterprise Singapore.
  • Altogether, they initiated 28 projects, which were supported under the Local Enterprise and Association Development (Lead) programme, which is jointly administered by Spring and IE Singapore.
  • Of the 28 industry development and internationalisation projects supported over the year, close to 36% were initiated by associations new to the Lead programme. These include the Law Society of Singapore, the Singapore Transport Association and the Singapore Medical Association.
  • IE Singapore chief executive Lee Ark Boon added: “TACs play an important role in helping our SMEs go overseas. We will continue to support them, especially to partner them on digitally-driven projects that will make it easier for SMEs to export their products and services globally amid this challenging global landscape.”
  • Since the Lead programme’s inception in 2005, 47 TACs have come on board to spearhead more than 200 industry projects in areas of productivity enhancement, capability upgrading and market access.
  • More than 40,000 local enterprises have benefitted from these projects in the last decade.

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