EVEN as
Singapore’s inflation cools this year, small and medium-sized enterprises (SMEs) are expected to face continued – or even intensifying – cost pressures.
Industry leaders noted four areas of concern: rents; labour costs; utilities and fuel charges; and pass-through costs from suppliers.
Rental charges of commercial and industrial spaces will generally tick up in 2024, said Ang Yuit, president of the Association of Small and Medium Enterprises (Asme).
“We have not seen rentals come down; in fact, rentals have been notching upwards still,” he told
The Business Times.
While Asme has observed office rentals to have held steady, retail leases have generally gone up by between 3 to 10