Productivity drive overshadows growth efforts at SMEs

Survey shows most of them constrained by manpower costs

[SINGAPORE] Even as more SMEs here respond to the government's calls for higher productivity and labour tightening, their turnover and growth plans have been sacrificed in the process.

According to the SME Development Survey released yesterday, small and medium-size enterprises have been found to be more focused on productivity, including manpower changes, than looking for ways to expand.

The survey showed that a majority of SME leaders have embraced the productivity agenda, with 58 per cent planning to improve productivity in the next 12 months.

Of the SMEs looking to increase their productivity in the next 12 months, up to 62 per cent intend to do this by optimising their manpower usage. They...

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