In February, Minister for Finance Lawrence Wong announced the Singapore Budget 2022. The announcement was timely, with significant changes announced for Singaporean businesses. GST hikes, carbon and income tax increases, and rising inflation were on the agenda for the island nation.
Despite these challenges, Singaporean SMBs remain positive about their outlook following a challenging couple of years. DBS conducted its SME Pulse Check Survey to gauge their reaction to the latest set of announcements by Minister Wong. Here are some of the top revelations from that survey.