Retailers and food and beverage businesses said the goods and services tax (GST) hike will hit them hard, especially if higher prices deter consumers from spending at a time when energy and transport prices are also rising.
While some businesses said they can deal with the increase, smaller heartland enterprises said they might see the shutters come down if costs rise too sharply.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
