Trends Report

SMEs In Singapore Need More Than Cash To Stay Afloat Amid COVID-19

March 27th, 2020
Frederic Giron, VP, Senior Research Director
Frederic Giron VP, Senior Research Director

Summary

COVID-19 is hitting Singapore’s small and midsize enterprises (SMEs) very hard; they need immediate relief measures to prevent disruption. To pull SMEs out of the mire, banks should look beyond short-term financial alleviation and offer advice and educational services. Banks should help SMEs become more adaptive so that they can survive in a post-pandemic world.

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