Without the financial muscle and economies of scale that MNCs possess, SMEs face far more stringent credit guidelines from banks to fuel their expansion.
Realising the complex growth environment facing local enterprises as our economy enters a new phase, the Govt must collaborate with trade associations and chambers of commerce. Such initiatives will include assigning mentors to help small firms navigate through the muddy waters of restructuring. The official shift in approach to focus on innovation in every industry while preserving a level-playing field of support for all small businesses will help to get SMEs up to speed. However, our govt has not done enough.
While we cannot depart totally from wooing MNCs to our shores, we must face the reality that our high costs makes S'pore a less inviting option for many foreign firms. There needs to be a viable alternative – with local companies at its core – to give us a competitive advantage in the global market.
They are playing role too well coz facilitator means only open door and dont do anything else .... exactly their preferred MO.
Whether SMEs are profitable or not, is secondary. When you spend first, or create revenue, there is GST.
They have our strong N Tee U See fake labour union support, they have enjoyed our pro-employer opened door policies, they have the priviledges of depressing shitizens wages even after getting the labour "reskilled, upskilled". If all these conditions still cannot help SMEs survived, they DESERVED TO BE FUCKED AND CLOSED DOWN and have all the bosses BLACKLISTED from returning to business again. Furthermore, have their faces disclose and put to shame.
MNCs are fickle and flighty. They also have the ability to up stakes and relocate anywhere in the world at the drop of a hat. The moment there's a better market or a better cost environment they are gone within a year.
Let's not forget jobs for direct employees, jobs for subcons and suppliers.
that's why sinkieland is mecca of home offices. spend money first, wash the laundering and you will get to stay on this land for 10000 years
Whiter than white will close 1 or 2 eyes when they see the amount of money coming in from those ultra rich foreigners.
