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Costs, manpower remain key areas of concern for businesses: ISCA survey

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Business costs and manpower remain key areas of concern for businesses, according to the pre-Budget survey conducted by the Institute of Singapore Chartered Accountants (ISCA).

BUSINESS costs and manpower remain key areas of concern for businesses, according to the pre-Budget 2015 survey conducted by the Institute of Singapore Chartered Accountants (ISCA).

Of the government schemes, businesses find the Productivity and Innovation Credit (PIC), PIC Bonus, WCS, and PIC+ for qualifying SMEs to be relatively more useful for raising productivity. Businesses express the desire for such schemes to remain for at least three to 10 years, in order for businesses to be effective in raising productivity, said ISCA on Tuesday.

In contrast, the other schemes, including including iSprint, Micro Loan Programme and WorkPro, are deemed to be relatively less useful.

While majority of respondents find the pace of restructuring acceptable, there are challenges, such as staff and management's inability to change and adapt, as well as not having internal capability to re-organise. These are areas that may need further support.

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Market voices on:

For households, tax savings or rebates top the wish list for Budget 2015.

The online survey conducted by the ISCA Research team in November 2014 garnered a total of 400 responses from ISCA members.

For more stories, analysis and infographics on Singapore Budget 2015, head to btd.sg/budget_15

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