SBF-2018-2019-Infographics-Final.pdf

SBF-2018-2019-Infographics-Final.pdf - NATIONAL BUSINESS...

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Business Sentiments Singapore companies go into 2019 with a sense of uncertainty about the global economic climate. NATIONAL BUSINESS SURVEY 2018/2019 Tackling Change Amid New Uncertainties These findings summarise the National Business Survey 2018/2019 conducted by the Singapore Business Federation (SBF). The survey, carried out from 19 September to 7 December 2018, drew responses from more than 700 companies across all key industries. 88% of the responses were from SMEs and 12% of the responses were from large companies. 1 Possibility of a global trade war 9% 61% 30% Cyber Attacks 7% 47% 45% Terrorism 6% 46% 47% CPTPP 38% 4% 57% Climate Change 9% 35% 56% 29% 13% 57% 1 Negative Not affected Positive n=705 Business sentiment is steady with nearly half of Singapore businesses believing that the economic climate will likely remain unchanged in the coming year. Decimal points have been rounded up. The total may not add up to 100%. 2017 n=1,019 2018 n=705 The Singapore economy in the next 12 months 16% Better 31% 46% Same 45% 38% Worse 21% Satisfaction with the regional and global business environment declined in 2018. Having said so, businesses are more optimistic about ASEAN. 2017 2018 n=1,019 n=705 Global Business Climate ASEAN Business Climate Satisfied 18% 30% 28% 34% Dissatisfied 25% 17% 17% 16% Neutral 55% 48% 57% 53% But businesses believe that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Belt and Road Initiative will bring them opportunities. What’s impacting businesses? Interest rate increases 8% 65% 27% Thinking about the developments last year, businesses are most concerned about interest rate increases and the ongoing US-China trade tensions. Global Events and their Implications Decimal points have been rounded up. The total may not add up to 100%. Decimal points have been rounded up. The total may not add up to 100%. Belt & Road Initiative
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Innovation is Increasingly a Top Priority for Singapore Businesses 64% of large companies say their implementation of business innovation was medium to high, compared to 55% of SMEs. Nearly 1 in 3 businesses say they have increased their implementation of new technology in the past 12 months. The development of digital business capabilities and reviewing of business models or structures are identified as key priorities for the year ahead. Increased Stayed the same Decreased Implementation of New Technology 7% 61% 32% Implementation of Business Innovation 2 With regard to innovation, businesses rank the cost of technology and availability (or lack) of suitable manpower with technological expertise as key concerns.
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