SMEs 'at an inflexion point'

ASME chief flags the struggles of SMEs, which are mostly in traditional trades and may go out of business amid push to transform the economy


THE president of the Association of Small and Medium Enterprises (ASME) has warned that smaller businesses in Singapore, the bulk of which are in traditional businesses, might be in danger of being run to the ground.

Mr Kurt Wee said: "You can talk about transforming the landscape and economy, and having breakthroughs in new industries. I think we need that, and that is part of economic evolution. But the reality is also that the bulk of these SMEs (small and medium-sized enterprises) are in traditional and conventional businesses."

So although economic evolution and being "future ready" are important, care must be taken not to push these businesses past the tipping point, beyond which...

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