Why local SMEs prefer to stay put in Singapore over international expansion

SINGAPORE (Jan 29): Small medium enterprises (SMEs) in Singapore appear to display an appalling lack of interest in taking their businesses beyond the city state, according to QBE’s annual survey of more than 400 local SME business leaders.

In a Monday release, the global insurer says its survey findings showed that almost half (45%) of Singaporean SMEs said they will not explore expansion across borders, with a larger proportion (56%) of smaller SMEs indicating likewise.

Just 14% said they intended to internationalise.

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