ATTRACTING NEW Prospects
Prime Minister Lawrence Wong spoke at this year’s National Day Rally about reducing the regulatory problem and creating a business-friendly culture in the face of growing global rivals.
Mr Ang Yuit, president of the Association of Small and Medium Enterprises ( ASME), said SMEs, in particular, are typically short on resources and often “have to really firefight” problems that come their way.  ,
SME are also the foundation of our business, he continued, adding that they really help to avert many financial surprises. ” And this floor definitely needs to be watered”.
The new business, which will assist SMEs in navigating regulations, is a fast initiative, according to Mr. Ang, adding that regulations could be made simpler to assist these businesses.  ,
” Over period, we were simply concerned, from our view, that there has been more emphasis on the larger businesses and less on the smaller types”, he noted.  ,
And I believe that when given the appropriate focus, SMEs have a lot of potential to grow.
According to observers, the SME PEO may help to boost the business climate and open up new opportunities.  ,
” Businesses are now dealing with a bunch of expenses”, said Mr Ang. But,” If you can lower the governmental burden, that will lower the costs, and that will give them more room to grow,”