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SMEs anticipate lower margins, higher costs amid weak global economy: SCCCI survey

Amala Balakrishner
Amala Balakrishner10/21/2019 11:09 AM GMT+08  • 3 min read
SMEs anticipate lower margins, higher costs amid weak global economy: SCCCI survey
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.
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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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