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Business will not recover this year, most SMEs fear

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A survey conducted by the Small and Medium Enterprises Association has found that two out of three SMEs believe that their businesses are unlikely to recover this year.

The association’s central chairperson William Ng said the survey also found that 16% of respondents think that their business will only recover in 2023.

In a statement issued yesterday, he also said that the current full movement control order is particularly devastating to a majority of the SMEs.
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