The Business Times

Entrepreneurship - cradle to economic growth

The SBF recognises the importance of mentorship programmes to identify, help and groom promising young business leaders

Published Tue, Dec 2, 2014 · 09:50 PM
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THE entrepreneurs of today are facing multi-faceted and unprecedented challenges and pressure. According to the inaugural Singapore Business and Financial Strategy Survey jointly conducted by Singapore Business Federation (SBF) and American Express in August 2014, Singapore enterprises continued to be challenged by external and internal environmental factors.

Domestically, escalating business expenditure on manpower, rental and compliance, as well as suitable labour supply and intense industry competition, topped the list of challenges among survey respondents.

Delving deep into the various segments of the small and medium enterprises, rising manpower costs remains a prevalent issue for micro (71 per cent), small (96 per cent) and mid-sized (98 per cent) enterprises. Larger enterprises which are financially stro…

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