Repositioned SBF SME Committee (SMEC) shifts focus beyond advocacy
- Kurt Wee appointed as new Chairman of SMEC, succeeding Mr. Lawrence Leow
- SMS Chee Hong Tat and MS Zaqy Mohamed are SMEC’s new advisors, alongside Mr Teo Ser Luck and Mr Lawrence Leow who stay on as advisors
On a strategic level, SMEC’s work will focus on four key areas of interest to SMEs – Financing and Cost of Doing Business, Manpower, Talent and Skills, Technology, Innovation and Productivity, and Markets and Internationalisation. The Committee’s advocacy efforts will be omni-directional and will extend beyond the Government to businesses and the workforce. The Committee will also focus on programmes and activities to create a positive impact on SMEs and help them up-scale their capabilities. This will be done in close collaboration with other TACs, government agencies, educational institutions, centres of innovation and the business community.
“SMEs face growing challenges in the evolving local and global business environment. The repositioned SBF SME Committee aims to be a key platform for various stakeholders to collaborate and help SME scale up their capabilities. The Committee will also facilitate engagement between SMEs, trade associations and chambers and policy makers to effect business-friendly policies to boost SME development”, said Mr Wee.
The SME Committee (SMEC) was established in 2011 as a key platform to engage SME on business issues. Some of its notable initiatives and work include the annual recommendations for the Singapore Budget, the Fair Tenancy Framework, the Government Procurement Best Practices Guide, and the SBF Position Paper on Population.
Since 2012, SMEC has tabled more than 120 recommendations to our Government, including those from sectoral TACs such as the Singapore Retail Association (SRA) and the Singapore Contractors Association (SCAL) pertaining to specific industry issues faced by their respective sectors, with approximately 1/3 of the SMEC’s recommendations having contributed to policy refinements that have helped our SMEs in industry transformation and business growth.
More details on specific programmes and activities of the new Committee will be shared in early September.