By Isabelle Chong | Updated on Jun 12, 2026 at 05:59 AM
Singapore’s small and medium-sized businesses are the least upbeat about overseas expansion among 11 markets surveyed as geopolitical tensions cloud the outlook, said Kreston Global .
Business leaders in the city-state gave a 7.2 out of 10 score for their optimism about international expansion compared with 8.2 globally, according to the report released Thursday by accounting group Kreston.
“While the outlook remains broadly positive, the finer details in the data tell a more nuanced story: businesses grappling with the challenges of AI, tariffs, and geopolitical instability,” Kreston Chief Executive Officer Liza Robbins said in the report. Supply-chain disruptions and the complexities of setting up compliant operations in foreign markets were also cited as factors weighing on expansion plans.
Prime Minister Lawrence Wong has encouraged Singapore firms to internationalize and diversify revenue streams. Wong in February announced a series of enhanced initiatives including grants and tax breaks to help defray the costs of going abroad.
Companies should focus on prioritizing their internal readiness so they are better positioned to seize opportunities when global expansion regains momentum, said Helmi Talib, managing partner at Kreston.