SUBSCRIBERS

SMEs 'at an inflexion point'

ASME chief flags the struggles of SMEs, which are mostly in traditional trades and may go out of business amid push to transform the economy

Mindy Tan

Published Mon, Mar 7, 2016 · 09:50 PM

ASME

Singapore

THE president of the Association of Small and Medium Enterprises (ASME) has warned that smaller businesses in Singapore, the bulk of which are in traditional businesses, might be in danger of being run to the ground.

Mr Kurt Wee said: "You can talk about transforming the landscape and economy, and having breakthroughs in new industries. I think we need that, and that is part of economic evolution. But the reality is also that the bulk of these SMEs (small and medium-sized enterprises) are in traditional and conventional businesses."

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes