About SME

About SME

SME means Small to Medium Enterprise.

SMEs in Singapore was previously defined as enterprises with fixed asset investments of $15 million and below for those in manufacturing, and employment size of 200 and below for non-manufacturing enterprises. The Ministry of Trade and Industry announced on 22nd March 2011, the new parameters have set the definition of SMEs as businesses with the annual sales turnover of not more than $100 million or employing no more than 200 staff. The new definition allows business to be eligible for more support, regardless of their fixed assets. On top of that, the change is also in line with international benchmarks in Asia-Pacific and Europe.