Extended wage support high on Singapore SMEs' wish list

UOB study finds firms in wholesale trade, real estate and hospitality sectors more keen on government assistance to protect jobs, while firms in manufacturing and professional services seek industry partnerships

Published Thu, Feb 11, 2021 · 05:50 AM

Singapore SMEs

Singapore

CONTINUED wage support is top of this year's Budget wish list for small and medium-sized enterprises (SMEs) in Singapore, according to the UOB SME Outlook 2021 Study published on Wednesday.

About 30 per cent of the companies polled applied for the Jobs Support Scheme (JSS) and 27 per cent applied for the Wage Credit Scheme (WCS) last year.

More than half of the total respondents want the schemes to be extended in 2021 (59 per cent for the JSS and 53 per cent for the WCS).

Companies in the wholesale trade and real estate and hospitality sectors were more keen on government assistance to protect jobs, while SMEs in sectors that are already on the road to recovery, such as manufacturing and professional services, were more interested in indus…