Small and medium sized companies in Singapore : problems and recommendations

• Main Authors: Chong, Kok Kia, Lim, Chen Chen, Lim, Mee Jee
• Other Authors: Toh See Kiat
• Format: Final Year Project
• Language: English
• Published: 2015
• Subjects: DRNTU::Business
• Online Access: http://hdl.handle.net/10356/63013
• Institution: Nanyang Technological University

Small and Medium-sized Enterprises (SMEs) have contributed much to Singapore's explosive economic performance. They give Singapore a much needed boost in job creation and technological advancement. According to Economic Survey of Singapore 1991, SMEs constitute 88% of the total number of establishments and contribute 40% of employment in Singapore. However, local SMEs are miles behind their bigger counterparts in value added terms, contributing only a paltry 23% despite their numerical significance. Their growths have often been impeded due to their inability to procure funds and their susceptibility to external conditions. This study is undertaken to analyse the problems faced by small and medium sized companies in Singapore. The study is confined to companies (private and public) and excludes partnerships and proprietors. It also aims to offer businessmen some practical solutions to their everyday problems like financing, marketing and quality control so as to achieve optimal corporate performance. By highlighting common. problems faced by distressed companies in Singapore, the study also hopes to avert possible corporate failure. Last but not least, the study aims to provide valuable input to future policy decisions.