SMEs facing increasing shortage of manpower: DPM Teo
As Singapore continues to tighten the tap on the entry of foreign workers, small and medium-sized companies are facing an increasing shortage of manpower.
This could affect many firms' ability to survive, and ultimately put Singaporeans' jobs at risk, Deputy Prime Minister Teo Chee Hean warned last night as he wrapped up the population debate at a dialogue on the issue.
Indeed, a survey released last month by the Association of Small and Medium Enterprises found that eight in 10 firms were facing manpower shortages, with three in 10 even looking to move overseas in order to survive.
"This is a serious matter because our SMEs employ 70 per cent of our workforce," said DPM Teo, who is in charge of population matters.