A research study sponsored by the World Economic Forum and the National University of Singapore Business School has concluded that survival and expansion are the main challenges for 67% of SMEs across the globe. Elaborating further, the study report titled ‘Future Readiness of SMEs and Mid-Sized Companies: A Year On’ mentions the challenge of scaling their businesses, foraying into new markets and consumers, and low margins as the most critical pressure points. The report also identifies acquiring and retaining talent (48%), values and culture (34%), access to funding and capital (24%), as well as non-conducive business policy environments (22%) as their other challenges.
