Small and medium size enterprises (SMEs) in Singapore are facing mounting challenges in this rapidly changing business environment. 99% of all businesses in Singapore are made up of SMEs, many of which are facing survival challenges during their first year of operations.
The excitement of starting your own business and waking up every day to do what you love is an amazing time of your life. However, along with the pride and joy of having your own business comes the often difficult (and daunting) task of managing aspects of your business that you are not an expert in. Working with SMEs in Singapore for the last 15 years and by surveying our clients at AccPro, I want to share top 4 challenges faced by SMEs in Singapore.