NMP raises SME concerns on business space costs

[SINGAPORE] Now that small and medium-sized enterprises (SMEs) have accepted that manpower challenges have become a reality, they have a new area of concern - the availability of affordable business space, said a Nominated Member of Parliament (NMP) yesterday.

Teo Siong Seng, raising this point in the House, said that SMEs, knowing now that the government is standing firm on slowing the import of foreign labour, are hoping to get some help in the renewing of their land leases and in reining in the rapid rise in rental costs in order for them to stay sustainable.

Mr Teo, the immediate past president of the Singapore Chinese Chamber of Commerce & Industry (SCCCI) and managing director of shipping company Pacific International Lines, said: "Businesses are well aware that there are no shortcuts to solving manpower challenges, and that there will be no U-turns on the government's (labour) policies. Hence, we hope that the government would be able to provide affordable space for local SMEs."