Committee of Supply 2023 debate, Day 3: Shawn Huang on helping SMEs during COVID-19 and managing rising business costs
During the COVID-19 pandemic, many small- and medium-sized enterprises (SMEs) in Singapore faced significant challenges - from lower revenue resulting in cash flow problems, to supply chain disruptions and challenges arising from remote work. Making the point in Parliament on Tuesday (Feb 28), MP Shawn Huang asked the Government what measures it took to help local SMEs tide through the pandemic. He also noted how in a tightened financial market, businesses find it harder to access financing, especially those with high levels of debt or a poor credit rating. He asked what they can do to adapt to rising operating costs and what the Government can do to help them.
During the COVID-19 pandemic, many small- and medium-sized enterprises (SMEs) in Singapore faced significant challenges - from lower revenue resulting in cash flow problems, to supply chain disruptions and challenges arising from remote work. Making the point in Parliament on Tuesday (Feb 28), MP Shawn Huang asked the Government what measures it took to help local SMEs tide through the pandemic. He also noted how in a tightened financial market, businesses find it harder to access financing, especially those with high levels of debt or a poor credit rating. He asked what they can do to adapt to rising operating costs and what the Government can do to help them.
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