See exactly how SMEs benefit from Singapore Budget 2014

New scheme supports local and international expansion.

“Small and medium enterprises (SMEs) are the cornerstone of the Singapore economy – they make up 99% of the businesses here, hire 70% of the workforce and account for 50% of the total value of companies. It is encouraging to see the Budget focus not only on helping these SMEs succeed within the nation but also expand beyond our shores to seize global growth opportunities,"said Joshua Soh, managing director for Cisco in Singapore and Brunei.

"The Enhancement to Internationalisation Finance Scheme coupled with the IPG program, will empower SMEs in Singapore to develop cross-border trade, particularly critical with the regional economic integration enabled by the ASEAN Economic Community 2015 master plan. The data provided by connecting the unconnected will be critical to businesses transformation for SME’s in Singapore as they look to internationalise with greater optimization and operational agility. The new normal, in an age where everything is connected, makes an intelligent and secure network the foundation for helping Singapore SMEs internationalise," he added.