Singapore govt to invest millions in local SMEs
The Singapore government has shown again it’s not afraid to play an active role in business development, with new plans to co-invest up to S$250 million (US$191.1 million) in local businesses with revenues up to S$500 million.
The program is designed to take Singapore’s small and medium sized enterprises and give them the boost they need to “become world beaters”. The government expects around 40% of the program funds to go to businesses with annual sales below S$100 million. It will make its investments mainly through private equity fund managers who will in turn seek matching capital from the private sector, bringing the total number of investment funds available to SMEs closer to S$500 million.
source & article: Straits Times
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