Wholesale, retail sectors cling to hope in 2020
They still see bright spots amid the need for caution, and many continue to work on new strategies, improve staff training and implement tech ecosystems
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SMALL- and medium-size enterprises (SMEs) in the wholesale and retail sectors may have been among the most affected by the US-China trade war and slowing global economy, but they still see bright spots amid the need for caution, firms in the sectors told The Business Times (BT).
The two sectors had the least positive outlook for 2020 according to a recent United Overseas Bank survey, which polled 615 SMEs. The study found that 46 per cent held a positive outlook for their business in the year ahead, while 31 per cent reported a negative outlook and the rest were neutral. Top concerns cited by the respondents overall were a continued slowdown in global demand, the impact of ongoing US-China trade tensions and the strengthening of the Singapore dollar.
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