Commenting on the results of a survey on the challenges of Singapore businesses, SMU Associate Professor of Strategy & Entrepreneurship Chen Liang said that more measures were needed to lower business compliance costs. He noted that current assistance programmes for businesses focused more on new market entry than compliance with rules. Assoc Prof Chen also said that the challenge is the fixed managerial and compliance costs which small and medium enterprises (SMEs) face when they try to scale across multiple markets because rules change ever more frequently these days.
