SMU final-year business school student, Rick Tan and co-founder of Innova Technology which produces a loss prevention device welcomes the enhanced PIC following The Budget on 17 th February, noting that having greater working capital will also help reduce SMEs' reliance on external sources of funding and added that it will encourage many SMEs like them to embark on more R&D projects which will increase the amount of innovative products to be launched within a shorter timeframe. More awareness is however needed as many SMEs are either unaware about the beneficial schemes that are available or do not know where and how to apply for them.
The Straits Times