Singaporean SMEs bleeding millions due to poor cash management

Quick Summary:

Singaporean SMEs are collectively losing an estimated SGD800 million (US$596 million) annually by keeping idle cash in low-yield bank accounts, reveals a recent survey by wealthtech platform Syfe.

The survey polled 350 SME business owners in Singapore with cash reserves between SGD100,000 and SGD20 million.

Popular methods include money market funds (43 per cent), standard business bank accounts (43 per cent), and fixed deposits (41 per cent).

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Article Details

Author / Journalist: Sainul

Category: StartupsTechnology

Markets: Singapore

Topics: SMEs Syfe SME Investments Wealthtech

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-26 @ 06:22:13 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: e27.co

Language: English

Article Length: 288 words

Reading Time: 2 minutes read

Sentences: 1 lines

Sentence Length: 288 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © e27

News ID: 26452596

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About e27

Main Topics: StartupsTechnology

Official Website: e27.co

Update Frequency: 17 posts per day

Year Established: 2006

Headquarters: Singapore

News Last Updated: 13 hours ago

Coverage Areas: Singapore

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Publication Timezone: GMT +8:00

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Publisher ID: #10

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