Singapore’s SMEs pessimistic about business prospects
The confidence in business activities of small- and medium-sized enterprises (SMEs) operating in Singapore for the remaining months of 2020 falls to the lowest level since 2009, as the COVID-19 pandemic has constrained global growth and slowed economic activities around the world.
Singapore (VNA) – The confidence in business activities of small-and medium-sized enterprises (SMEs) operating in Singapore for the remainingmonths of 2020 falls to the lowest level since 2009, as the COVID-19 pandemichas constrained global growth and slowed economic activities around the world.
According to the SBF-Experian SME Index for4Q20 – 1Q21F recently announced by the Singapore Business Federation (SBF) andExperian company, the SME Index registered an overall reading of 46.3, thelowest since the inception of the index in 2009.
The SBF said that uncertainties stemmingfrom the pandemic and restrictions put in place to slow the spread of thecoronavirus have dampened the overall outlook of Singapore’s SMEs for thefollowing months.
The construction and engineering sectorregistered the most significant decrease in sentiment (down 6.1 percent),likely attributed to extended dormitory quarantines and additional costsincurred from prolonging project timelines.
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Financial district of Singapore (Source: VNA) 
