SPRING is the Singapore Government’s Ministry of Trade and Industry’s authorized agency that helps in the Small and Medium Enterprise (SMEs) to grow and develop products with a global vision. SPRING helps in building the trust in the products and services of these SMEs by helping them in enhancing their skills which results in high productivity and global products.
SPRING provides five major assistances to the SMEs. One of them is the Spring Capability Development Grant. Under this SPRING covers 70% of the cost of the qualifying projects in the areas of recruiting, manpower, consultancy, training, up gradating, productivity, certification and access to the market. SPRING supports 10 areas that are tailored to meet SME’s current needs and development process like adopting technology, innovation, raising service standards, grooming business leaders and development of a global brand.
Once the SMEs submit their project plan the SPRING will assess it as well as the competency of the service provider to assist the SME and might approve it. After approval, the SOME has to take the services of the authorized service provider and on completion they have to submit the project report and audit report within six months of completion of their project along with the claim for the grant beyond which the Spring Capability Development Grant will lapse automatically. On receipt of the above, SPRING will disburse the amount within 4 to 6 weeks to the SMEs bank account directly.
There are many organizations that provide Business Advisory Services Singapore for the SMEs to grow and stabilize themselves in the market. These might vary from Business Coaching, Mentoring, Consultancy, Planning, Restructuring and Training. Business Advisory Services Singapore is provided by the expert in various industries for the SMEs to grow and develop global brand.