SMEs to increase spending on technology
Singapore SMEs are spending more on technology in a bid to improve their productivity and beat rising business costs.
This is the conclusion of SBF-DP SME Index, a joint initiative of the Singapore Business Federation (SBF) and DP Information Group (DP Info).
The index looks into business sentiments six months into the future.
The Overall Index score increased slightly from 54.1 to 54.7.
This shows that SMEs are slightly optimistic about their overall performance prospects for the coming six months.
Five industry sectors are tracked - Business Services, Commerce/Trading, Construction/Engineering, Manufacturing, and Transport/Storage.
Construction/Engineering companies have the highest Capital Investment Index score of 5.61, indicating that they will be making the most investments.
As Christmas is coming, companies expect increased revenue.
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