SMEs grapple with rising costs and manpower shortage: Survey

September 9, 20149:25 am245 views
SMEs grapple with rising costs and manpower shortage: Survey
SMEs grapple with rising costs and manpower shortage: Survey

SINGAPORE: Rising business costs and manpower shortage are the two key business challenges facing small and medium-sized enterprises in Singapore.

That is according to the latest SME Survey by the Singapore Chinese Chamber of Commerce and Industry, where 83 per cent of the respondents said they faced rising business costs, and 46 per cent reported a decline in profits.

The study also showed that 90 per cent of the companies surveyed were taking measures to improve productivity. About three quarters in all are applying for Government Assistance Schemes – a climb of 18 percentage points from 2013.

 

source news and image credit: channelnewsasia.com

Read more HR NEWS in ASIA

(Visited 1 times, 1 visits today)