SINGAPORE (Oct 21): Small and medium-sized enterprises (SMEs) are bracing themselves for a hit to profit margins and revenue amid a bleak economic outlook , according to a survey by the Singapore Chinese Chamber of Commerce and Industry.
Most of the enterprises polled cited rising costs driven by wages and rentals, a shortage of manpower and stiff market competition as key factors inhibiting their profits and growth.
In addition, some 63% say the ongoing US-China trade war has been the single biggest development that has impacted their businesses this year.
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