Korean SMEs forecast gloomier business outlook for 2019
- 5 years ago
Local small and mid-sized firms lowered their growth forecast for next year to two-point-five percent, slower than the IMF and the Bank of Korea's outlook of 2-point-seven.
A survey by the Korea Federation of SMEs on over three-thousand small companies shows the Small Business Health Index (SBHI) for 2019 recorded 83-point-two, near 10 points lower than last year.
A figure below 100 means there are more pessimists than optimists about the business outlook.
Surveyed companies cited the sluggish domestic economy, rising labor costs, and growing competition as some of the key factors.
A survey by the Korea Federation of SMEs on over three-thousand small companies shows the Small Business Health Index (SBHI) for 2019 recorded 83-point-two, near 10 points lower than last year.
A figure below 100 means there are more pessimists than optimists about the business outlook.
Surveyed companies cited the sluggish domestic economy, rising labor costs, and growing competition as some of the key factors.