SME DEVELOPMENT SURVEY 2007 - Conducted by DP Information Group
description
Transcript of SME DEVELOPMENT SURVEY 2007 - Conducted by DP Information Group
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME DEVELOPMENT SURVEY 2007- Conducted by DP Information Group
“SME Challenges & Changes for Continued Growth”
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Strategic Partners Supporting Organisation
Sponsors
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SURVEY OBJECTIVES
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
1. Impact of domestic cost competitiveness on SMEs
2. Strategies adopted by SMEs for overseas expansion & growth
3. SMEs’ competitiveness & opportunities with MNCs & GLCs
4. Adoption rate of process automation & impact on productivity
& cost efficiency on SMEs
5. SMEs’ needs & readiness to tap on alternative equity financing
6. SMEs’ recruitment issues & staff training needs
SME Development Survey 2007 - Survey Objectives
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
CHARACTERISTICS OF RESPONDENTS
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
This yr: 1,206 coys responded (2006: 1,068 respondents)
Significantly higher no. of larger companies responded - 59% with paid-up capital >S$0.5m - 13% with >100 employees vs 8% last year
Respondents by Paid-Up Capital
SME Development Survey 2007 - Characteristics of Respondents
Paid Up Capital 2007 2006 2005
S$2 - S$50,000 7% 18% 6%
S$50,001 - S$0.5m 34% 53% 27%
> S$0.5m - S$1m 20% 6% 26%
> S$1m - S$2m 14% 13% 16%
> S$2m - S$5m 12% 5% 12%
> S$5m 13% 5% 13%
Total 100% 100% 100%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SURVEY FINDINGS
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Improved turnover & Strong profitability
26% posted turnover > S$20m; as compared with 20% over last yr
SME Development Survey 2007 - Characteristics of Respondents
Turnover 2007 2006 2005
<S$0.5m 12% 18% 17%
S$0.5m-S$1m 9% 10% 8%
>S$1m-S$5m 21% 21% 12%
>S$5m-S$10m 18% 15% 24%
>S$10m-S$20m 14% 16% 14%
>S20m-S$50m 14% 12% 8%
>S$50m 12% 8% 17%
Total 100% 100% 100%
Profit 2007 2006 2005
Losses 21% 23% 23%
<S$100,000 26% 30% 30%
>S$0.1m-S$0.5m 26% 22% 21%
>S$0.5m-S$1m 8% 8% 4%
>S$1m-S$3m 10% 10% 9%
>S3m-S$5m 3% 3% 9%
>S$5m 6% 4% 4%
Total 100% 100% 100%
Drop in no. of loss-making companies
Increase in no. of SMEs generating profit >S$5m; from 4% to 6%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Increasing no. of companies experiencing accelerating turnover growth of >10% p.a.
Downward trend in no. of companies with turnover on the decline
Stages of Development • Start-up: First 3 years of operation• Accelerating Growth: turnover growth of > 10% per annum• Moderate Growth: turnover growth of up to 10% per annum• Mature: Zero turnover growth • Decline: Negative turnover growth
SME Development Survey 2007 - Characteristics of Respondents
6%
11%
2%
27%
20%19%
37%35%36%
24%25%
29%
6%9%
14%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Start- up Acceleratinggrowth
Moderategrowth
Mature Decline
Respondents by Stages of Development
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Competition remains the most cited challenge (58%)
Operating Cost overtook Manpower as 2nd topmost selected growth hindrance (53%)
Market size constraint is a new hindrance cited by 24%
Downward trend observed for Difficulty in accessing biz opportunity, New Financing & Uncertain economic environment
SME Development Survey 2007 - Challenges to Growth
58%
45%
52% 53%
34%
42%45%
37%
28%30%28%
22% 24%20%
25%
32%
10%
19%15%
9%
19%
34%
0%
10%
20%
30%
40%
50%
60%
Increasingcompetition
Increasingoperating
costs
M anpowerissues
Cash flow M arket sizeconstraints
Difficulty inaccessingbusiness
opportunity
New financing Uncertaineconomic
environment
Top 3 Most Selected Hindrance to Growth
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Increasing Labour cost top concern across most business sectors especially Construction, Services and Food & Beverage; will significantly affect profitability in the next 1-2 yrs
2 other cost components that will have major impact on SMEs’ profitability are Cost of raw materials/ intermediate or final products & Rental of premises
Increasing Cost of raw materials/ intermediate or final products of greater concern for Construction (78%) & Manufacturing (77%) sectors
Increasing Rental is the third most cited cost concern amongst Food & Beverage, Retail, Finance & Services
SME Development Survey 2007 - Challenges to Growth
61%55%
37%
20% 18% 17%13%
0%
10%
20%
30%
40%
50%
60%
70%
Cost components affecting profitability
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Strategies for Growth
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Significant jump on cost-related issues (11% up) : - Improving Cost Efficiency - Productivity
Less emphasis on New Products / Services (7% drop)
Decline in Scaling Down / Consolidation; 80% of them are making losses or have low profit margin
Growing importance on 2 new business strategies : - Improve Customer Service (9%) - Branding (3%)
SME Development Survey 2007 - Business Strategies
43%
22%
30%
21%19%
32%
10%
17%
18%
9%
6%
10%
6%3%
2%
14%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Improve cost
effi ciency/
productivity
New overseas
market
New Products/
Services
Improve
customer service
Expand local
distribution
Branding Scaling down/
consolidation
Key Business Strategy for next 1-2 years
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Financing & Funding
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Continued increase in SMEs having access to Term Loan
Downward trend continues for Overdraft
Government Funding Schemes still low; though upward trend continues
SME Development Survey 2007 - Financing/ Funding
Types of external financing obtained
2007 2006 2005 2004
Debt Financing
Term loan 47% 43% 37% 33%
Trade financing 39% 32% 39% 29%
Overdraft 32% 40% 44% 47%
Hire purchase / Leasing 29% 31% 33% 35%
Factoring 6% 7% 6% 6%
Equity Financing
Venture capital 13% 15% 5% NA
Funds from friends or relatives 12% 17% NA NA
Business angels 2% 3% 2% NA
Govt Funding Schemes 10% 8% 6% NA
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Local Enterprise Finance Scheme still the most widely used govt funding scheme
More SMEs accessing : - SME Access Loan (up 3%) - Loan Insurance Scheme (up 6%) - Regionalisation Finance Scheme (up 3%)
Downward trend continues for Microloan
Low take-up for Variable Interest Loan Scheme & Start-up Enterprise Development Scheme
SME Development Survey 2007 - Financing/ Funding
63%
53%
68%
25%28%
36%
15%12%
4%
10%
4%4% 5%2%2% 3% 2%
5%2% 3%
0%0%
10%
20%
30%
40%
50%
60%
70%
LEFS Microloan SMEAccess loan
LI S RFS V-Loan SEEDS
Government Funding Schemes tapped by SMEs
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
3 new concerns : - High Interest Rates - Extensive documentation required by banks - Short loan repayment period
Only half of those without financing facilities express need for external funding (9.5%) High Interest Rates charged by banks replace Lack of Access to Bank Financing as top concern
SME Development Survey 2007 - Financing/ Funding
52%36%37%
26%
24%
17%14%15%
13%15%15%
14%14%
0% 10% 20% 30% 40% 50% 60%
High loan interest rate
Lack of collaterals
Extensive documentation
Short loan repayment period
Poor financial performance
Reached maximum credit limit
Complex loan application procedures
Lack of business track record
Top 3 Concerns in obtaining financing
2007 2006
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SMEs fared better than previous year with 10% drop in those reporting losses
Nevertheless, SMEs continue to register low profit margin
Distribution of Respondents by Profit Margin
SME Development Survey 2007 - Profitability
Profit Margin FY2006 FY2005 FY2004 FY2003
Negative margin 16% 26% 30% 28%
0% to <5% 54% 47% 40% 43%
5% to <10% 15% 14% 12% 17%
10% or more 15% 13% 18% 12%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Despite Govt & Fund Investors efforts, majority of SMEs not looking to IPO, OTC or Private Equity Investment to provide alternate sources of financing
More informative sessions/ programmes needed to help SMEs to better understand these alternate financing options
Of those who have expressed . some interest in such alternate financing : - Majority (70%) looking for >S$1m - 28% looking for >S$5m of additional capital injection
SME Development Survey 2007 - Financing/ Funding
Source of equity financing
Initial Public Offering
Over the counter
Private Equity Investment
Yes 6% 3% 5%
Would like to knowmore before deciding 7% 8% 7%
Maybe 14% 11% 13%
No 73% 78% 75%
Total 100% 100% 100%
Quantum of Fund sought from IPO/ OTC/ Private Equity
<S$0.5m10%
>S$1m - S$3m27%
>S$3m - S$5m15%
>S$5m28% S$0.5m - S$1m
20%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Overseas Expansion
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SMEs have expanded their overseas biz activities
70% have overseas interests
Almost 60% of respondents have biz activities in overseas markets for more than 3 years
Among those with no overseas biz (30%), one-fifth of them intend to venture overseas in the next 12 months
SME Development Survey 2007 - Overseas Expansion
24%
40%
6%
1%3%
7% 8%7%
14%
5%
45%
39%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
None Intend toventure
J ustStarted
1 to 3years
>3 to 5years
>5 years
Percentage of respondents with Yrs in Overseas Biz Activities
2007 2006
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
70% of respondents have revenue generated from overseas; increase of 11% from previous year
7% jump in those who derive >70% to 100% of their revenue from overseas markets
SME Development Survey 2007 - Overseas Expansion
30%
41%
31%
25%26%
32%
13%
8% 9% 10%10%10%
22%
15%18%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
None Up to 30% >30% to50%
>50% to70%
>70% to100%
Turnover as % of Revenue
SMEs with turnover from overseas
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
High initial investment/cost on engaging overseas biz activities, especially within the first 3 years
Long-term sustainability of SMEs venturing into overseas markets remains a concern as profits remain relatively similar to that when they were about to venture overseas
SME Development Survey 2007 - Overseas Expansion
Years of overseas biz activities
Net Profit
LossesS$0 to S$0.1m
>S$0.1m to S$0.5m
>S$0.5m to S$1m
>S$1m to S$3m
None 18% 24% 29% 7% 23%
Intend to Venture 18% 29% 24% 5% 24%
Just Started 11% 29% 22% 7% 32%
1 to 3 years 17% 23% 38% 12% 10%
>3 to 5 years 26% 22% 18% 9% 26%
>5 years 18% 25% 27% 10% 21%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Malaysia, Indonesia & China remain the Top 3 favourite destinations
Middle East overtook USA as 9th most popular destination
Overall reported increase in all of the top 10 countries for overseas expansion
SME Development Survey 2007 - Overseas Expansion
81%64%49%
71%51%43%
65%41%32%
56%39%32%
45%26%
23%41%
25%23%
34%22%22%
27%18%
17%24%
15%22%
17%14%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Malaysia
Indonesia
China
Thailand
Vietnam
Philippines
India
Australia
Middle East
USA
Top 10 Overseas Countries
2007 2006 2005
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Vietnam overtook India as the most popular new market for SMEs to venture into in the next 12 months
China has also emerged as one of the Top 3 preferred destination in the next 12 months
Noticeable absence of Middle East amongst the Top 3 preferred destinations for overseas expansion in the next 12 months
SME Development Survey 2007 - Overseas Expansion
New overseas market in next 12 months
2007 2006
Top 1Vietnam(36%)
India(32%)
Top 2India
(28%)Middle East
(27%)
Top 3China(26%)
Vietnam(25%)
Top 4Middle East
(25%)China(21%)
Top 5Indonesia
(21%)Malaysia
(15%)
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Overseas Expansion
Top 3 critical success factor for overseas operations %
Finding the right overseas partners 61%
Overseas market knowledge 57%
Adaptive to local business practices / customs 56%
Sufficient funding / financing 34%
Product differentiation 31%
Manpower 25%
Branding 21%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Human Resource
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Human Resource
Higher than average
16%
Average68%
Lower than average
4%
Do not benchmark / Do
not know12%
68% claim to pay the market average
16% pay higher than average
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Human Resource
Business Sector
Average monthly earning per employee
SME respondents 2007 MOM Release 2006[1] % Difference
Commerce - Wholesale S$3,504
S$3,017[2]
16%
Commerce – Retail S$2,854 -1%
Communications/ Transport/ Storage S$3,154 S$3,507 -10%
Finance S$4,252 S$5,949 -29%
Manufacturing S$2,935 S$3,495 -16%
Property S$2,956 S$2,732 8%
Construction S$2,217 S$2,513 -12%
Services S$3,520 S$3,498 1%
Food & Beverages S$1,243 S$1,360 -9%
[1] Source: Report on Wages in Singapore 2006, Ministry of Manpower [2] As released by MOM, the Commerce sector includes both Wholesale and Retail. No breakdown was provided
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
87% have expressed the need for staff to be trained
3 areas that most SMEs identified for training are : - Leadership & Team-building - Marketing & Promotion - Business Planning
SME Development Survey 2007 - Human Resource
Business Sector
2 key areas of training needed
Leadership & Team building
Marketing &
Promotion
Business Planning
Accounting & Finance
Information technology
Strategic Planning
Policies, laws &
regulations
Retail 20% 39% 37% 16% 18% 14% 2%
Wholesale 22% 33% 30% 25% 24% 17% 5%
Comms/Transport/Storage 36% 17% 26% 21% 20% 19% 7%
Construction 38% 12% 24% 20% 14% 24% 11%
Finance 17% 24% 14% 38% 14% 10% 10%
Food & Beverages 52% 19% 26% 11% 11% 22% 7%
Manufacturing 30% 34% 21% 17% 19% 21% 8%
Property 28% 39% 22% 17% 6% 0% 6%
Services 30% 26% 26% 18% 23% 19% 6%
Overall 29% 27% 26% 21% 20% 19% 7%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Process Automation & Infocomm Technology
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Process Automation & Infocomm Technology
Top challenge faced in adoption of technology is High Cost involved; this is of great concern especially for Start-ups & lack of funding support exacerbates the problem
2nd most cited challenge is the lack of staff capabilities; reinforces the need for training to be provided
20% of SMEs have no difficulty
Key challengesin adopting technologies
Overall
Stage of Development
Start-up
Accelerating growth
Moderate growth
Mature Decline
High cost involved 52% 65% 53% 55% 45% 47%
Lack of staff capabilities 35% 34% 37% 33% 34% 35%
Lack of funding support 19% 25% 22% 17% 14% 22%
Complexity of software licensing
9% 14% 8% 10% 7% 7%
Inability to keepup with technological advancement
8% 10% 6% 8% 9% 10%
Security concerns 6% 6% 6% 6% 6% 4%
No difficulty 20% 9% 19% 21% 24% 22%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Process Automation & Infocomm Technology
Low level of automation among more than two-fifths of SMEs (43%)
On positive note, slightly more than a quarter have automated more than half of their functions/ process
Level of automation increases with staff strength
Employee Size
Percentage of functions & processes automated
<25% 25% - 50% >50%
<10 53% 24% 23%
10 – 25 46% 26% 28%
26 – 50 36% 33% 31%
51 – 75 44% 37% 19%
76 – 100 36% 32% 32%
>100 31% 37% 32%
Overall 43% 31% 26%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 - Process Automation & Infocomm Technology
Spending on R&D still low among SMEs
50% spend <1% of turnover in R&D
SMEs in Accelerating Growth stage investing more in R&D, followed by the Start-ups
More than half in Moderate Growth, Mature & Decline stage not spending on R&D
Stage of Development
Amount spent on Research & Development
None <S$0.1mS$0.1m
to S$0.3m
$0.3m to
S$0.6m>S$0.6m
Start-up 44% 35% 14% 4% 4%
Accelerating growth 39% 39% 11% 1% 11%
Moderate growth 51% 34% 8% 4% 4%
Mature 63% 28% 5% 2% 3%
Decline 68% 28% 0% 0% 5%
Overall 73% 18% 4% 2% 3%
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
DP INFO’S RECOMMENDATIONS
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
#1 : Managing Overseas Competitiveness
#2 : More Training Assistance Schemes & Funding #3 : Adoption of technology as an Investment rather than a cost #4 : Enhance partnerships between SMEs and the GLCs/MNCs
#5 : Adoption of risk-based financing
SME Development Survey 2007 - 5 Recommendations
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Top barrier identified by our SMEs• Intense competition overseas for 2 consecutive yrs; 2007(58%) & 2006(45%)• 13% SMEs have difficulties in obtaining financing for overseas expansion
Likely reasons SMEs appear to be going through a learning process when they engage in
international activities Successful venture overseas hinges on finding right overseas partners,
overseas market knowledge, limited funding and manpower shortages
SME Development Survey 2007 Recommendation #1 - Managing Overseas competitiveness
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
What our government can do - with IE Singapore taking the lead? Increase awareness of overseas financing schemes – IFS, LIS More in-depth, timely & relevant overseas market knowledge More substantial business networking & engagement opportunities in
the right markets overseas Raise National awareness via regional print & media SME sharing development and use of ICT platforms (e-clustering or
networked communities) for marketing at global level Render shared services overseas :
• technology (secure platform, back-office),• info collective and dissemination, business intelligence, capacity-
building and• collective services (marketing, payment, branding)
Focus on overseas-based activities for SMEs operating overseas
SME Development Survey 2007 Recommendation #1 - Managing Overseas competitiveness
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Manpower & training needs identified by SMEs 87% identify more training to be required Hiring difficulties of Supervisory (35%) & Operational staff (45%) with technical
skills Identified “Leadership/Mgt” & “Marketing/Promotion” as 2 main training needs
Likely reasons SMEs are unlikely to have readily available resources, both time and funding SMEs are a diverse group Ensuring initiatives such as the Management Development Programme reaches
out to wider SME community
SME Development Survey 2007 Recommendation #2 – More Training Assistance Schemes
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
What is needed – How WDA can help? Develop management training programmes to address specific soft
skill needs Encourage & incentivise short duration & off-site training programs Accelerate industry-focused training (such as the Retail Scholarship
Programme & sharing of training resources Rating system on local training providers; assurance of quality Allocate more training funding from Government especially
for soft skills development; Such expenditure should be deem as investment for our next generation workforce ( $7-$16 per trainee-hour is low! )
SME Development Survey 2007 Recommendation #2 – More Training Assistance Schemes
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Key challengeICT & Process automation adoption rate low amongst SMEs with 43% automating
<25% of their processes & business functions73% do not spend on R&D with 50% spending just <1% of turnover on F&D
Likely reasons Cost is one of the top challenges faced by 52% in adopting technology; next
being staff capabilities & competence Many SMEs do not understand nor appreciate the benefits that ICT can bring
SME Development Survey 2007 Recommendation #3 -Technology Adoption as an Investment
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
How can our government help thru IDA?• Overall Funding support for SMEs – to be included in
Infocomm@SME• Funding ICT trainings of owners & staff – to be included in
Infocomm@SME(Usage)• Incentivise SMEs to extract advantages from the existing technologies – to
be included in Infocomm@SME(Growth)• Active profiling of SMEs that have successfully adopted innovation in process
technology• Ensure Technology Innovation Programme reaches/appeals to majority of
SMEs
SME Development Survey 2007 Recommendation #3 -Technology Adoption as an Investment
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
ConcernLow level of business engagement with MNCs & GLCs; only 7% of SMEs have business dealings with GLCs & 15% with MNCs
Likely Reason GLCs & MNCs do not proactively engage SMEs as their business partners Little acknowledgement for those who had done so
Suggestions which SPRING can help?• Promote effective networking between MNCs and potential SME value chain
via MNC sponsored event inviting SMEs to participate• Government to officially recognize & award exemplary GLCs & MNCs • Regular industry networking sessions involving GLCs, MNCs & SMEs• Selected government tenders to stipulate requirement for consortia
approach for GLC/MNC to partner with SME• Elect some GLCs to ‘lead by example’
SME Development Survey 2007 Recommendation #4 - Partnerships with MNCs & GLCs
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Top concern for financingHigh interest loan rate top concern of 52% of SMEsShort loan repayment period highlighted as a challenge by 24%
Likely reasonAre financial institutions charging higher interest rate to compensate for greater
perceived risks?
Encourage “lean” SME loans by introducing Credit process automation and emphasizing high predictive power of rating A risk-based, individualized and fair pricing for SME’s Rejected applicants understand better how to improve to qualify Proactive approach by SMEs to understand rationale of high interest rates
& how loan repayment periods may be extendedIn the SME sector, fast loans and cost-effective processes are at least as important as risk
sensitive obligor selection …... but often highly discriminative rating systems are one major precondition to simplify
and accelerate loan processes
SME Development Survey 2007 Recommendation #5 - Risk Based Financing
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
Conclusion
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 Recommendation for SMEs
SMEs should take charge Examine the findings Find the applications to your business Stay relevant Reexamine/reflect on your business Actively source for assistance Reflect your needs and challenges through appropriate
channels Never give up
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
THANK YOU
© Copyright 2007. DP Information Group. All Rights Reserved. RESTRICTED
SME Development Survey 2007 Forum
10 October 2007 8:30am – 2pmNTUC Auditorium (Level 7)One Marina Boulevard
The forum that brings together the SME
community to discuss the findings of the
survey and reflect their views on the
challenges to their growth.