Singapore is not a good place for startups or SMEs anymore?
According to the latest SME Development Survey, 51 small and medium enterprises (SMEs) in Singapore say their main business strategy is to rethink their business model due to rising cost pressures.
Some major challenges faced by SMEs in 2014 are:
difficulty in hiring staff: 49%
high manpower costs: 48%
increasing competition: 45%
high rental costs: 31%
uncertain global economic environment: 23%
high material costs: 19%
difficulty in retaining staff: 17%
http://www.enterpriseone.gov.sg/en/News ... urvey.aspx