06 Mar '11, 1am

Escalating business costs what can SMEs do?

Escalating business costs what can SMEs do?

By Cheong Choy Wai and Ow Yeong Khai Hon SINGAPORE has weathered the storm and the global economy is now recovering. Although economic growth is expected to remain strong, so is inflationary pressure. Businesses were reminded during the 2011 Budget announcement that despite the current and anticipated increase in business costs, there can potentially be further hikes in foreign workers' levy and employer CPF contributions. So, what can businesses, especially SMEs, do to take advantage of what has been announced in the Budget 2011 to mitigate the rising costs? The support measures announced are presented in the form of direct giveaway and indirect assistance and subsidies through incentives. Direct support measure The main corporate giveaway for Singapore Inc's contribution to the nation's growth is the one-off 20 per cent corporate income tax rebate, for Year of Assessment...

Full article: http://www.asiaone.com/Business/SME+Central/Dollars+%2526...

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