2020 is here with us. How will the year look like in terms of the Small Medium Enterprises (SME)?
Banks will start lending to the SME but will still be cautious. In 2019 and the previous years, SMEs suffered as banks refused to lend due to the interest rate cap.
People will continue losing their jobs. The business environment is still not favourable. Many businesses will still lay off their workforce to reduce on spending.
SMEs will continue shutting down. In 2019 alone, close to 400,000 SMEs shut down. 2020 is not going to be different. If the policies remain as they are, more SMEs are going to suffer.