SME100 AWARDS 2015 SINGAPORE'S FAST MOVING COMPANIES: THE KEY CHALLENGES
Overcoming obstacles, seizing opportunities
Sat, Jun 27, 2015 - 5:50 AM
'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...