21 Jan '11, 12pm

Higher business confidence for S'pore SMEs (via ST iPhone App)

SMALL and medium-enterprises (SMEs) here are increasingly bullish about their prospects thanks to Singapore's booming economy. Business confidence among Singapore firms rose the most among eight Asian economies studied in the HSBC Small Business Confidence Monitor, released on Friday. As a result, SMEs are planning to ramp up recruitment and capital spending and get themselves involved in international business activities. 'With a double-digit growth in (Singapore's) GDP in 2010, it is not surprising to see the confidence index soar to a new high in recent years,' said HSBC Singapore's head of commercial banking Willie Tham. The study, conducted twice a year, showed that 63 per cent of SMEs here expect the economy to improve. This helped local firms' confidence to climb 32 index points in the fourth quarter compared to a year earlier - the largest jump in Asia. Singapore f...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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