Help with business costs and green efforts tops SCCCI's Budget wish list

Reducing business costs and getting help to meet the challenges of going green head a Budget wish list at the Singapore Chinese Chamber of Commerce and Industry (SCCCI).

- Rosalind Ang

The burden of rising costs is one of the key issues highlighted in a survey the chamber conducted earlier in 2024, alongside the difficulties smaller firms face in the area of sustainable practices.

SCCCI president Kho Choon Keng noted on Dec 20: "We call for measures to ease business costs, improve workforce productivity, and accelerate the adoption of green capabilities. Our recommendations are designed to sharpen the competitive edge of Singapore companies while addressing near-term challenges."

He emphasised a need for targeted policies to help businesses navigate an increasingly complex global environment.

The SCCCI's recommendation for Budget 2025 said the Government could help to lower business costs and quicken the pace of sustainability efforts among small and medium-sized enterprises (SMEs) keen to benefit from the green economy.

It urged the Government to not further increase compliance costs, charges and fees that will aggravate the cost burden on firms. The Government could also consider a higher threshold for corporate income tax rebates.