Committee of Supply 2026 debate, Day 3: Gerald Giam on bridging the micro enterprise gap
Micro and small enterprises provide economic stability for the nation and livelihoods for many workers, but their economic contribution remains disproportionately low. They employ 45 per cent of Singapore’s workers but contribute only 11 per cent of nominal value-added. This productivity gap translates into lower salaries. MP Gerald Giam said this in parliament on Monday (Mar 2). Noting the observation by the Association of Small and Medium Enterprises (ASME) on the overly broad classification of small- and medium-sized enterprises, he wanted to know if the government will adopt ASME’s suggestion to delineate micro, small and medium enterprises in policymaking and data collection.
Micro and small enterprises provide economic stability for the nation and livelihoods for many workers, but their economic contribution remains disproportionately low. They employ 45 per cent of Singapore’s workers but contribute only 11 per cent of nominal value-added. This productivity gap translates into lower salaries. MP Gerald Giam said this in parliament on Monday (Mar 2). Noting the observation by the Association of Small and Medium Enterprises (ASME) on the overly broad classification of small- and medium-sized enterprises, he wanted to know if the government will adopt ASME’s suggestion to delineate micro, small and medium enterprises in policymaking and data collection.
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