According to tabulations released by enterprise development agency Spring Singapore last week, the number of SMEs that tapped government grants to embark on productivity initiatives fell to 16,300 last year from 20,000 in 2015. The lower grant uptake last year was also the result of Spring becoming more selective in its spending of grant funds. No more incentives were given for adopting applications like basic accounting software. As a result, SMEs had to get serious about skills and equipment upgrading. Spring’s report shows that some SMEs are recognizing that a downbeat economy might be the best time to carry out deep change. Thus more working capital and funds are needed for the growth of SMEs in Singapore. It is New Fintech solutions can provide in-time help for the companies.