The balancing act
In just a handful of decades, Singapore has grown from a key maritime hub to the region’s leading commercial centre for a range of thriving industries, including tech, finance, and manufacturing. The country consistently ranks amongst the world’s most competitive economies year-on-year and maintains its number one position here in Asia. For a tiny island with few natural resources and a small population, this achievement is both an inspiration and a challenge for small and medium enterprises (SMEs).
In Asia’s most competitive economy, SMEs, which make up 99% of Singapore’s commercial enterprises, face enormous pressure to stay on top, placing significant strain on their owners’ well-being. This burden is a hidden cost of entrepreneurship.
