Enterprise Singapore assisted 76,000 companies in 2018

ABOUT 76,000 companies in Singapore, ranging from startups to larger enterprises, were helped by Enterprise Singapore (ESG) in 2018, in the government agency’s first year in review briefing since the merger of Spring Singapore and IE Singapore in April last year.

Among them, over 30,000 were engaged through the SME Centres through business advisory, workshops and upgrading projects. 

Some 7,000 capability upgrading projects to help businesses access new markets were supported by ESG in 2018, estimated to generate S$10.2 billion in value-add and 10,500 skilled jobs.

It was also announced that over 570 overseas projects were facilitated last year, up 25 per cent from a year ago. This is expected to bring about S$11.1 billion of sales and S$6.1 billion of investments from overseas.

More than 1,000 startups were assisted through the Startup SG programmes and partners. Under Startup SG Equity, about S$36.5 million was co-invested in 52 startups, catalysing about S$118 million in private investments. 

On its report card, ESG chairman Peter Ong said that the organisation has made “significant strides” in the past year, despite the “challenging” external environment and organisational integration as a result of the merger.