SMa creates committee to boost SMEs' productivity

Productivity and Innovation Function Committee tasked to identify gaps and offer solutions.

A committee to help Small and Medium-sized Enterprises (SMEs) to become more productive has been set up by the Singapore Manufacturers' Federation (SMa).

The Productivity and Innovation Function Committee will act as a guide and resource base to help companies identify inefficiencies and tap government incentives, such as the S$5.5 billion set aside as part of the annual Budget to boost productivity, according to an Enterprise One report.

The committee - which comprises representatives from IE Singapore, SPRING Singapore, Singapore Workforce Development Agency, Singapore Economic Development Board, as well as SMa's 11 industry group chairmen - will be able to share advice on automation processes, research & development, and manpower development.

Boosting the productivity of SMEs is crucial if Singapore is to achieve its target national productivity growth rate of 2% to 3% annually, up from 1% a year recorded from 1999 to 2009.

SMEs form more than 95% of the manufacturing companies and employ about 60% of the manufacturing work force in Singapore.