The benefits of a thriving small and medium-sized companies (SME) sector are clear and regularly cited by governments and economists. In Singapore, SMEs account for around two-thirds of the workforce and a large chunk of GDP growth.
But if these firms can’t get funding, their failure to thrive has a dampening effect on the larger economy.
For larger companies and multinationals, the options for accessing credit are established and numerous, but for sole proprietors and small businesses, the most frequent solution is to seek a loan.
Alwin Goh
