[theold]

SINGAPORE, April 16 — Singapore’s small and medium-sized enterprises (SMEs) were in a contract mood for the fifth consecutive quarter, reported Xinhua quoting a report released by the Oversea-Chinese Banking Corporation (OCBC) today.

The SME index is based on transaction data of over 100,000 OCBC SME customers in Singapore. A reading above 50 signifies improved health, while a score of below 50 shows deterioration.

https://www.malaymail.com/news/singapore...ers/129096

[Ola]

STat Boards / GLCs ( Keppel, Sembcorp . . . ) not shrinking?

Foreign MNCs already shrinking in the past 3 months

That is retrenchment is everywhere, lah.

[EvertonDiehard]

SMEs lack the financial muscle and economies of scale that MNCs possess. As such, they face far more stringent credit guidelines from banks to fuel their expansion. The EDB and Enterprise S'pore may assist by developing local private sector businesses to contribute to supply chains. This involves introducing schemes that help local businesses tap opportunities for expansion to give us a competitive advantage in the global market. In order for local enterprises to create genuine value, they must generate new products and services in established industries. This will pave the way for such businesses to grow through collaboration with MNCs to meet global demands, and not just the needs of the domestic market. The authorities must ensure a level-playing field of support for small businesses by offering them the same incentives as MNCs to get up to speed.

[EvertonDiehard]

SINGAPORE, April 16 — Singapore’s small and medium-sized enterprises (SMEs) were in a contract mood for the fifth consecutive quarter, reported Xinhua quoting a report released by the Oversea-Chinese Banking Corporation (OCBC) today.The SME index is based on transaction data of over 100,000 OCBC SME customers in Singapore. A reading above 50 signifies improved health, while a score of below 50 shows deterioration.

The exodus of huge foreign companies is an ongoing process. However, S'pore can become the preferred destination for foreign firms to shift their higher-value R&D here to develop their ideas, revolutionise growth areas and adopt new technologies. Local R&D firms will also benefit from partnering with these foreign counterparts. The transfer of knowledge may help us become a dominant force in some of the established industries we once excelled in.

[Ola]

PAP has always been bias against local SMEs

Most of them cannot hire FTs using EP that is unconditional and no quota

Yet, PAP squeeze them with FW LEVIES and quota to kill them

[mikotan]

Soon companies will close shop here. Heard people asking for 4 days week, more work from home, more leaves...

[watchfirst9]

The exodus of huge foreign companies is an ongoing process. However, S'pore can become the preferred destination for foreign firms to shift their higher-value R&D here to develop their ideas, revolutionise growth areas and adopt new technologies. Local R&D firms will also benefit from partnering with these foreign counterparts. The transfer of knowledge may help us become a dominant force in some of the established industries we once excelled in.

So easy partner meh and transfer.
most R&D employed are not local too, 
you think too easy. 

SME cannot cope with inflation. 
MNCs want more profits.

Govt need to think how.

[EvertonDiehard]

So easy partner meh and transfer. most R&D employed are not local too, you think too easy. SME cannot cope with inflation. MNCs want more profits. Govt need to think how.

As high costs make us a less inviting option for many firms from overseas, the time is ripe to reposition our economy. SMEs must quickly step up to fill the shoes of MNCs that are offshoring their businesses out of S'pore; this will help to ensure the survival of these local firms. Recognising that SMEs have to take a giant step up to fill the void, tax incentives and grants will help businesses strengthen their capabilities, restructure, develop their workers and even finance expansion overseas. Nobody claims it will be easy, but a defeatist attitude will not help.