Going regional the way forward for businesses

Singapore

THE outlook for 2017 might be downcast but it is not all doom and gloom - business leaders have pointed out that in adversity lies opportunity and Singapore companies, particularly small and medium-sized enterprises (SMEs), should look to the region for growth.

Sharing his thoughts at Outlook 2017 forum jointly organised by The Business Times and Canon on Tuesday, Kurt Wee, president for the Association of Small and Medium Enterprises (ASME) said because the cost of running a business here is high and is not helped by the sharp decline in domestic demand, the way forward for business owners is to regionalise and to move some of their operations to neighbouring countries.