Weak sentiment persists, but SMEs still expecting to keep headcount: SCCCI report

85.4% in survey expect to add staff or remain the same in 2016, up from 83.7% last year

Published Fri, Oct 14, 2016 · 09:50 PM

Singapore

BUSINESS sentiment among small and medium-sized enterprises (SMEs) in Singapore remains weak, as they continue to struggle against global economic headwinds and weak market conditions.

Some 80 per cent of SMEs face a reduced or flat profit margin in 2016 compared to last year, while 66 per cent say that revenue is expected to decline or remain the same, according to the SME Survey Report 2016 by the Singapore Chinese Chamber of Commerce & Industry (SCCCI).

But despite this, SMEs are still keeping their workforce intact, with 85.4 per cent of them expecting to either add staff or remain the same in 2016. This is up from 8…