Planning, financial management and control of SMEs in Singapore

• Main Authors: Chang, Chui Ying., Goh, Peng Cheng., Yeo, Eng Siang.
• Other Authors: Lee, Marina Foong Tow
• Format: Final Year Project
• Published: 2008
• Subjects: DRNTU::Business::General::Economic and business aspects
• Online Access: http://hdl.handle.net/10356/10791
• Institution: Nanyang Technological University

As SMEs constitute a significant portion of the corporate sector of Singapore, their contributions to our economy cannot be ignored. This study is embarked upon with the aim of gaining an insight into the operations of local SMEs with respect to 3 particular areas: planning, financial management and financing. Our results revealed that an encouraging number of SMEs engaged in planning with the planners outperforming the non-planners. In the area of financial management, it was found that few SMEs performed capital budgeting. Furthermore, most of them tended to adopt less sophisticated working capital management practices and control procedures. Our findings also showed that ajority of the SMEs relied on personal funds as their main source of seed capital and were likely to remain loyal to teir main banker fo a long period of time.