SBF SME committee suggests a targetted approach for SMEs
The Singapore Business Federation's Small and Medium Enterprise Committee has urged the government to allow more time for restructuring and not introduce any more measures that would exacerbate the already harsh conditions that SMEs are facing.
It proposes a targeted approach to help SMEs seeking growth, SMEs in survival mode and SMEs in sectors facing special needs.
These proposals were announced together with the SBF's release of the key findings of its National Business Survey conducted in the fourth quarter of last year.
The findings were used to develop the committee's recommendations for Budget 2014.
The SBF says rental costs, foreign worker regulations and levies, and taxation has emerged as the top three issues it would like Budget 2014 to address.
About 7 in 10 SBF members hope that Budget 2014 will contain measures to deal with escalating costs.
And nearly half of SBF members are anticipating policies that can soften the impact of tighter manpower constraints.
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