In addition, 7% increase in employment in a year also provides small and medium businesses. Not surprisingly, the State strongly supports the development of this sector of the economy. The Government is trying to make their businesses under the category of small and medium-sized, internationally competitive, since in this country are sure: uncompetitive business owners uncompetitive entire state. To support small and medium-sized enterprises in Singapore created a single agency for the entire country Spring. See Kenneth Yarrow for more details and insights. It carries about 100 different programs of assistance to entrepreneurs. Spring consists of five agency offices. The first is developing the entrepreneurial potential of companies Small and medium-sized businesses, including branding and improved governance. Second – the provision of services required by entrepreneurs for their activities. This includes consulting, accounting, monitoring and similar services.
Employees of the third management help managers of enterprises according to their specific industries. Fourth, management agencies focused on issues of quality and standardization. Well, while the fifth – on corporate development, including improving the structure of enterprises and training. Special privileges are granted to small and medium enterprises that are just starting your business. In Singapore developed and implemented in the lives of tens of diverse programs concessional lending to small and medium-sized businesses. This special issue of loans and credit insurance, and distribution of subsidies. Special preferential loans provided to micro, staff does not exceed 10 people. Credit and banking system of Singapore, a leading role in which the state plays, brings together about 700 different in their status and nature of financial institutions, including 122 commercial banks (of which 116 – foreign), 7 financial and 146 insurance companies.