Tuesday, February 28, 2012

Some SMEs see doom; others hope to fight on

Business Times: Tue, Feb 28
(SINGAPORE) Adapt or die - that's the reality facing many small and medium enterprises here. To some, adapting means preparing to ship operations out should change prove too costly, but to others, Singapore's leap towards productivity-driven growth is worth a shot.

As the debate on Budget 2012 opens in Parliament today, businesses no doubt hope that concerns over the timing of foreign worker quota cuts and calls for more aid on the costs front will get an airing.

As wages and rentals rise amid slowing global growth and economic uncertainty, even SMEs who see the necessity of restructuring are hoping for more direct help, whereas assistance announced by Deputy Prime Minister Tharman Shanmugaratnam in his Budget speech were aimed squarely at those willing to boost productivity - such as a beefed up Productivity and Innovation Credit scheme and relaxed rules on the type of training which qualifies...

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Martin Koh/ Sherry Tang
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