Help with rising costs tops SCCCI's Budget proposals

Chamber calls for support to improve firms' competitiveness amid uncertain landscape

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Chinese Chamber of Commerce & Industry's proposals were derived after polling over 700 senior representatives from local businesses across diverse sectors. They include speeding up SMEs' pursuit of sustainability, and establishing a 'trusted digital business hub' to help them adopt artificial intelligence more effectively. ST PHOTO: GIN TAY

(ST PHOTO: GIN TAY)

The Singapore Chinese Chamber of Commerce & Industry (SCCCI) on Dec 3 released its proposals for Budget 2026 as its annual survey found businesses were cautious about next year's outlook and wanted help with rising costs.

The proposals came a day after the Ministry of Finance launched its call for public feedback on themes such as advancing the economy, securing good jobs and helping Singaporeans progress together, ahead of Budget 2026 in February.

SCCCI president Kho Choon Keng said that local businesses are facing an increasingly complex and uncertain landscape, with near-term challenges weighing on their operations.

"Budget 2026 can provide the strategic lift that enables our businesses, especially small and medium-sized enterprises (SMEs), to strengthen their competitiveness while building new capabilities for the future," he added.

SCCCI's recommendations, he said, "can contribute towards strengthening Singapore companies to seize growth opportunities in the new economy".

The recommendations were derived from SCCCI's Annual Business Survey 2025, which polled more than 700 senior representatives from local businesses across diverse sectors.

Topics ranged from business sentiments to the impact of the US tariffs and government schemes, among others.

SCCCI's first recommendation centres on easing business costs and improving firms' competitiveness.