The Covid-19 pandemic has hit several small and medium enterprises (SMEs) hard. Without having a large capital to survive through the pandemic, SMEs have a bleak outlook for their businesses in 2021, while expecting the government to help them survive a dip in results through the pandemic economy.

This is according to the sixth edition of QBE Insurance’s annual survey of Singapore SMEs conducted in 4Q2020 when the Covid-19 effects had already taken hold. Over 400 SME decision-makes in Singapore were surveyed.

The survey found that SMEs are counting on the government to weather the storm and support their recovery efforts, with half of all SMEs polled indicating that they are looking to the government for relief measures to tackle adverse economic conditions.

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