The report by the public-private Alliance for Action (AfA) on Business Competitiveness is the culmination of nine months of work that included thousands of hours of meetings with businesses, trade associations, chambers of commerce and government agencies.
The establishment of the SME Pro-Enterprise Office has already been set in motion.
It was announced in late September that the office will open in the first quarter of 2025. Its mission is to gather feedback from small and medium-sized enterprises (SMEs) on pain points, especially those involving more than one government agency, and then relay the input to the relevant department.
"This was set up urgently because the key feedback was that businesses found it hard to navigate through the myriad of complex government regulations," said AfA co-chair and Singapore Business Federation (SBF) vice-chairman Mark Lee.
Most of the 27 suggestions put forward fell into three broad categories: manpower, land and the regulatory environment.
The manpower recommendations focus on boosting government grants that underpin workforce transformation, including the SkillsFuture Enterprise Credit scheme and another that offers companies $10,000 to support productivity and job transformation initiatives.
This story is from the November 02, 2024 edition of The Straits Times.
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This story is from the November 02, 2024 edition of The Straits Times.
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