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SME100 AWARDS 2015 SINGAPORE'S FAST MOVING COMPANIES: THE KEY CHALLENGES

Overcoming obstacles, seizing opportunities

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'SMEs need to be wiser when it comes to managing money. You will be surprised how few SMEs have an annual and monthly budget . . . Another common mistake is over-expansion. Many SMEs fall into the trap of overestimating the markets and their own readiness to scale. As a result, many end up investing money in projects that do not take off.' - William Ng

Running a small and medium enterprise (SME) in Singapore is no easy feat. There are myriad challenges common to businesses but for SMEs, these same challenges are multiplied many times over.

In a survey conducted by SME Magazine in March and April 2015, more than a third of all SMEs

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