Chart of the Day: Nearly half of SMEs anticipate worse business conditions
Transport/storage, hospitality/F&B, wholesale, and retail sectors are expecting less sales.
This chart from Experian shows that 47% of Singaporean small and medium enterprises (SMEs) are projecting negative business conditions in the next 12 months, whilst 10% are expecting positive results.
Forty-three percent of the respondents adopted a neutral stance, which could mean that many firms are looking for any signs of potential recovery in the coming months. The overall business outlook amongst Singapore SMEs has turned increasingly negative amidst COVID-19 headwinds.
Firms anticipating a decline in sales are mostly from the transport/storage, hospitality/F&B, wholesale, and retail sectors.