Channel NewsAsia

Govt acknowledges challenges SMEs face: Lee Bee Wah

MP for Nee Soon GRC Lee Bee Wah said the measures to help small and medium enterprises in this year's Budget shows the government has acknowledged the difficulties and challenges faced by them. But going forward, it is about helping SMEs know how to make use of the help offered. 

SINGAPORE: MP for Nee Soon GRC Lee Bee Wah said the measures to help small and medium enterprises in this year's Budget shows the government has acknowledged the difficulties and challenges faced by them.

But going forward, it is about helping SMEs know how to make use of the help offered.

Dr Lee was speaking on the sidelines of a monthly litter-picking event in her Nee Soon South division on Sunday.

She also visited residents to remind them of the need to be prepared should the wind direction change, resulting in hazy skies.

Dr Lee told reporters measures such as the extension of the Productivity and Innovation Credit scheme - where businesses can get tax deductions for embarking on productivity improvements - will help them cope in the tight labour market.

She also singled out the move by the government to allow foreign skilled workers to stay beyond 18 years to 22 years if they are still fit to work.

Dr Lee is part of the government's SME Workgroup, aimed at helping companies overcome restructuring challenges.

She said: "I will describe this Budget as a ground-up budget. The meaning is that a lot of help and packages are a result of feedback we have given to various ministries, and some we have brought up in parliament, some we have been lobbying behind the scenes.” 


Tweet Photos, Videos and Update on this Story to  #cna