Singapore, SMEs Optimistic the Asian Economy Will Recover

According to a survey from the Singapore Chinese Chamber of Commerce & Industry (SCCCI), 41% of small and medium enterprises (SMEs) are optimistic the Asian economy will recover in 2010.
The survey, conducted from May to July 2009, even found that 28% of respondents (out of a total of 1,046) feel the economy will recover in a year.
Among the measures activated by the Government in order to support SMEs, respondents found the Jobs Credit Scheme most beneficial (64%), followed by the reduction in corporate tax (52%), the property tax rebate (45%) and the subsidised training programmes (45%).
Major business challenges were identified in declining sales orders, intensified competition and higher-than-normal business costs.

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