2 in 3 SMEs see a risk of failure in next 3-5 years

Singapore

OVER two-thirds of SME chief financial officers (CFOs) say they face a moderate to significant risk of failure in the next three to five years, according to the American Express CFO Future Proofing Survey.

Of the 151 respondents, 67 per cent acknowledged a risk of failure - 17 per cent indicated they face a significant risk of failure while the remaining 50 per cent said they face a moderate risk of failure in the coming three to five years.