SMEs confident on growth prospects of businesses this year

About 82% of business leaders of small and medium-sized enterprises in Singapore expressed optimism on the growth prospects of their businesses in the next 12 months, although smaller firms were less confident than their bigger counterparts, according to a recent survey.

Employment Hero’s new survey showed that a third of the respondents were feeling extremely confident on their business outlook despite the ongoing uncertainties globally, although micro and small enterprises remained wary about their future.

“We are seeing green shoots in a lot of areas. SMEs in Singapore are starting to feel more confident having gone through some challenging years,” Kevin Fitzgerald, managing director for Asia at Employment Hero. “By staying ahead of the curve, SMEs can hopefully respond swiftly to changing market dynamics as needed,”