A survey of more than 400 local small- and medium-sized enterprises (SMEs) has shown that they expect the recommendations of the Economic Review Committee (ERC) to have a positive impact on their businesses and the economy.
Among the recommendations seen as having the greatest impact were those that proposed to stimulate innovation and experimentation; allow losses from investments in qualified start-ups to be tax deductible; tap key and emerging markets; lower rental costs and flexible wage costs.
Similarly, the SMEs expect benefits from proposals to enhance physical hub capabilities, create an attractive business environment and restructure the local construction industry.
The face-to-face survey of key decision-makers of 407 SMEs in the first half of the year was commissioned by the Feedback Unit.
