Tuesday, February 7, 2012

Govt likely to help SMEs cope with rising costs

Business Times: Mon, Feb 06
(SINGAPORE) Help with rising costs has been the repeated plea from businesses these past weeks, and is a genuine one participants at a recent BT roundtable think the government will respond to come Budget Day. But companies expecting huge Budget angpows should temper their hopes, they said.

Typical levers activated in the past to ease business costs in bad times - cuts to foreign workers' levies or employers' CPF contribution rate - can no longer be rolled out without undermining longer-term strategies.

There is also less need for these since the economy, though slowing, is not in the kind of recession in which higher costs might sound the death knell for many SMEs. From the companies' point of view, however, it is still a double whammy...

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