According to Manpower Minister Gan Kim Yong, productivity is an important part of Singapore’s growth strategy and that Singapore companies have to focus on productivity now rather than later.
For enterprises that fear that they will have to pass on costs to consumers, Minister Gan advised them to tap on the various schemes such as the PIC Scheme and various Workfare Schemes they can become more efficient and competitive.
Singapore Company Registration specialist Rikvin agrees, and is optimistic that the various funding schemes offered to Singapore SMEs will help them move up the value chain for the longer term. Furthermore, as Singapore is no longer a low-cost business location, enterprises will have to brace the new reality and tap the available schemes that will bolster their operations, and at little cost borne.
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