In 2011, SPRING Singapore supported more than 3,900 SMEs through 3,800 upgrading projects. A total grant of $98 million was committed for these projects. The upgrading projects undertaken by SMEs covered a wide range of areas such as productivity improvement, technology innovation, service excellence, business leaders and human capital development, and business capabilities upgrading. The SMEs also came from a diverse range of industries in manufacturing and services.  When fully implemented within the next three years, these SMEs are expected to create more than 15,000 new jobs and generate an additional $4.4 billion in value-add for the economy. 

 

In addition, more than 12,000 SMEs were assisted by business advisors in the five Enterprise Development Centres (EDCs) at ASME, SCCCI, SICCI, SMCCI and SMa. In total, SPRING and its EDC partners reached out to over 112,400 SMEs in 2011.

 

SMEs took up fewer government loans last year than in 2010. Some 5,100 loans amounting to $1.4 billion were extended to SMEs under the various programme administered by SPRING’s 14 financial institution partners. The lower take-up for government loans was attributed to a healthy commercial lending climate locally.