3 Jan 2018: Economy and SME Financing News
The latest data from EDB showed that Singapore’s factory output rose 5.3% in Nov 2017 on a yoy basis. Most segments recorded a rise in their outputs, like the electronics manufacturing which has been the main driver of growth for the economy in 2017. Although the growth rate was under the 8.1% increase expected by economists, this was mainly attributed to a fall in biomedical manufacturing output which is typically volatile. If biomedical manufacturing output was excluded, the growth rate would have been 13.9%.
The growth sectors were the semiconductors, computer peripherals and infocomms, consumer electronics, precision engineering segments. The chemicals cluster also recorded growth. Besides biomedical manufacturing, the land transport and marine and offshore engineering segments also did poorly.
The relevant report can be found at the website of the Economic Development Board (EDB), Singapore.
The EDB report showed that the growth of the manufacturing sector had been strong in 2017. Is your SME enjoying the momentum of the expansion in factory output? Are you anticipating more customer orders, preparing for more production and/or consume more raw materials? We certainly hope that is the case for your SME. Maybe you are thinking about financing options like working capital loans or invoice financing/factoring. We will be glad to have a discussion with you on the options for simple and affordable financing for your SME.
At IFS Capital Limited, we understand that all businesses are different in their needs and characteristics. That is why we are happy to explore financing options that meet the unique needs of your SME.
Why not drop us a note by clicking this form here and we can discuss this in further detail with you.
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