Singapore remains a key financial centre of the world, where nearly 99% of the 216,900 business in Singapore are small and medium enterprises (SMEs). They contribute to nearly half of Singapore’s GDP and employ 70% of the workforce locally. Popular Singapore stories include OSIM, Charles and Keith, BreadTalk, ToastBox, and Thai Express.

Although local enterprises are mostly optimistic and upbeat about the present health of the economy, there are still several concerns that local business owners continue to struggle with. Several surveys and studies over time have indicated that slow payments, rising costs, currency fluctuations, and the lack of skilled staff are amongst top concerns of SMEs.

Abstract from Singapore Business Review by Roger Crook. Read More.