SPRING Singapore

Delayed payments from customers remains key challenge for SMEs: SPRING survey

SINGAPORE (Dec 18): Managing delays in customer payments remains as a key finance-related challenge for Singapore's small-medium enterprises (SMEs) even with easy access to debt financing, according to recent findings from the 2017 SME Financing Survey by SPRING Singapore. 

Now in its second edition, the 2017 SME Financing Survey involved over 1,800 SME respondents across various industries, revenue bands and stages of development, and was conducted by SPRING Singapore in partnership with Dun & Bradstreet between June and Sept this year.

Why size matters in Singapore's business environment

SINGAPORE (Dec 14): Company size matters when it comes to working capital performance, which, when managed well, could help to improve business performance and revenue growth.

This is according to the Singapore Working Capital Study 2017 jointly conducted by Pricewaterhouse Coopers (PwC) Singapore and SPRING Singapore, which looked at over 1,000 public and private companies across 15 industries in Singapore.

IE and SPRING help local furniture retail firm Castlery expand to Australia

SINGAPORE (Dec 6): Castlery, a local furniture retail company, has expanded its business to Sydney, Australia with support from International Enterprise (IE) Singapore and SPRING.

This expansion marks the first Singaporean furniture brand with the presence of a flagship experience centre in Australia.

The company worked closely with IE Singapore and SPRING to improve its operational capacity and efficiency, and seek new growth overseas.

SPRING, IE Singapore to merge as government braces for future economy

SINGAPORE (Sept 5): Minister for Trade and Industry (Industry) S Iswaran on Tuesday announced the merging of SPRING Singapore and International Enterprise (IE) Singapore to transform the way economic agencies work with local enterprises.

The new government agency, Enterprise Singapore, will integrate SPRING’s focus on building the capabilities of start-ups and small and medium enterprises (SMEs) with IE’s development of Singapore as the preferred international trading hub from which companies expand overseas.

Pacific Radiance gets $85 mil lifeline from government-backed schemes

SINGAPORE (June 8): Pacific Radiance announced Thursday that it has been granted $85 million in loans under two government-backed financing schemes to help tide over the prolonged offshore and marine (O&M) industry downturn.

The two programmes – the Internationalisation Finance Scheme (IFS) by International Enterprise (IE) Singapore and the Bridging Loan (BL) scheme by Spring Singapore – will help support the group’s working capital needs over the medium term.

Singapore's big businesses overtake small firms as job creators

SINGAPORE (March 14): Singapore’s larger companies created more jobs last year than small and medium-sized businesses for the first time since 2013 as the economy struggled in the face of sluggish domestic demand and a slump in global trade.

Bigger companies -- defined as those with annual revenue exceeding US$100 million ($141 million) or employing more than 200 staff -- added a net 4,300 jobs last year, more than double the 2,100 by smaller firms, the Ministry of Manpower said in a written reply to a question from a lawmaker.

EY Entrepreneur of the Year 2017 now open for nominations

SINGAPORE (Feb 7): The 16th annual EY Entrepreneur Of The Year (EOY) awards was officially launched at a ceremony held at St Regis Singapore today.

Themed ‘Leading Through Disruption’, the awards programme is open for nominations from members of the public from now till April 30 via its online portal.

Which bank will be hardest hit in the event of Ezra’s liquidation?

SINGAPORE (Feb 3): CIMB Research remains “underweight” on Singapore banks given that asset quality concerns still loom, especially since Ezra Holdings today announced the possibility of a US$170 million ($240 million) writedown.

(See also: Ezra warns of possible US$170 mil writedown, clarifies media reports)

Trendlines Medical Singapore to hold opening ceremony on Feb 22

SINGAPORE (Feb 1): Trendlines Medical Singapore, the medical incubator subsidiary of Israeli firm Trendlines Group, will hold its official opening ceremony on Feb 22 at its office located at Launchpad @One North.

The group will also release its financial results for FY16 on the same day before the market opens, followed by a conference call held by its management for analysts and investors at 1pm that day.

Trendlines Medical Singapore to get grant of up to $2.2 mil from SPRING Singapore

SINGAPORE (Jan 16): Trendlines Medical Singapore, the medical incubator subsidiary of Israeli firm Trendlines Group, will receive a grant of up to $2.2 million under SPRING Singapore’s Incubator Development Program.

SPRING Singapore is the enterprise development agency of the Singapore Ministry of Trade and Industry.

The program provides grant support to incubators to enhance their capabilities and programs to assist start-ups, and will support up to 70% of a company’s expenditures incurred (amounting to no more than $2.2 million) over a three-year period.

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