Government Policy & Critical Success Factors of Small and Medium-Sized Enterprises in Singapore

Posted: 21 Nov 2011

See all articles by Harold Teng

Harold Teng

Centre on Asia and Globalization (CAG) at the Lee Kuan Yew School of Public Policy, National University of Singapore.

Date Written: November 2011

Abstract

One of the main economic players responsible for Singapore’s economic success is its small and medium-sized enterprises or SMEs. Their overall success has helped propel the country and its people forward. From economic policies to politics, Singapore is a planned and regulated economy. Singapore’s economic success story is actually the result of a form of capitalism carefully calibrated and controlled by the government.

An important element or aspect of good critical success factors (CSFs) emerges from the role being played by the government. The existence of good government or public policies that are pro-business is vital for the success of firms. Despite the fact that government policies and CSFs are widely studied in areas around the world including in Singapore, there is no comprehensive prediction model available to test if firms have potential to be successful or are more prone to failures. Much research investigates the non-financial factors contributing to success versus failure of small firms, but empirical tests of the predictability of these factors are less common. This book, which is primarily quantitative/ positivist in nature will attempt to fill this gap.

Suggested Citation

Teng, Harold Siow Song, Government Policy & Critical Success Factors of Small and Medium-Sized Enterprises in Singapore (November 2011). Cambridge Scholars Publishing, 2011; Lee Kuan Yew School of Public Policy Research Paper No. PP11-32. Available at SSRN: https://ssrn.com/abstract=1962401

Harold Siow Song Teng (Contact Author)

Centre on Asia and Globalization (CAG) at the Lee Kuan Yew School of Public Policy, National University of Singapore. ( email )

Singapore, 117591
Singapore

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