Singapore Budget 2016: Over half of local firms hit by tough climate

Singapore

THE weaker economic growth in Singapore and around the world is causing much grief for many Singapore companies these days.

Just over half of businesses here say they have been "adversely affected" by the current global economic climate, the latest National Business Survey has found. The 54 per cent of firms which feel this way is a marked increase from the 35 per cent from last year's survey.