Raising SME productivity: when push comes to shove
SMEs have little choice but to leverage technology to boost productivity as they face a difficult business environment and severe manpower crunch
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WITH a stiff labour market and the challenging business environment expected to persist, Singapore's small and medium-sized enterprises (SMEs) increasingly have no choice but to lean more on technology to drive productivity and sustain growth.
The government appeared to give companies another nudge this year when it focused its Budget on how firms can increase productivity and stay competitive.
Some industry commentators also saw the tightening of the foreign worker quota, which came during the Budget announcement, as a signal that companies need to wean off foreign manpower more quickly.
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