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Singapore SMEs expect to face multiple business challenges in 2025, with over half expecting AI to significantly impact business productivity, finds QBE Singapore annual SME survey

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Two-thirds of survey respondents say increased costs and reduced profitability is a challenge, with over half seeing reduced customer spending and financial challenges.To meet these issues, most are rolling out a variety of measures, including the deployment of artificial intelligence (AI) to bolster business productivity.While AI is having a positive impact, risks loom, say one-third of respondents. Exacerbating these concerns, Singapore SMEs are less informed about cyber risks, with knowledge in this area declining over the past year.SMEs are spending less on cyber insurance despite a rise in the number of cyber events experienced by these businesses.

SINGAPORE, Feb. 17, 2025 /PRNewswire/ — QBE Insurance today announced key findings from its annual QBE Singapore SME Survey. Conducted between December 2024 and January 2025, 600 decision-makers gave their views on a wide range of business risks and opportunities, including the impact of artificial intelligence and cyber risks, and their readiness for insurance digitalisation.

Foremost among this year’s findings is how today’s top business challenges are being acutely felt by many more Singapore SMEs than before. This year, two-thirds (66%) of survey respondents find increased costs and reduced profitability their number one business challenge, versus just half last year. Likewise, 56% are concerned with growing sales and reduced customer spending today, compared to 40% 12 months ago. Regarding company finances in areas like managing cash flow and access to funding, 51% are experiencing difficulties, in comparison to 36% found in 2024’s survey.

Accordingly, the economic outlook for the next 12 months is less positive than a year ago. Only 52% of respondents believe this year will be better than the past 12 months, versus 60% last year. Some 70% feel that increasing operating costs will impact the economy negatively, while 60% feel rising inflation and a GST increase will also impact the economy. SME executives are similarly downbeat about the performance of their respective businesses: in the 2024 survey, 62% of respondents believed sales during the ensuing year would be better, compared to 55% this year.

“While there is much concern over the state of the economy and their own prospects in the future, businesses aren’t standing still,” said Shun Quan Goh, Head, Underwriting, Retail & SME, QBE Singapore. “The proportion of respondents taking action to tackle today’s conditions has increased. This is notably the case with cost control, diversification of customer base, and business streamlining — some 70%, 49%, and 40% of respondents having acted on these fronts to ensure business viability.”

SMEs adopting AI in business productivity drive

Over half (52%) of respondents said AI has a significant impact on business productivity, up from 49% a year earlier. Of note, 55% of survey respondents don’t believe AI will replace jobs in their respective companies.  

While SMEs are upbeat about the current and future trajectory of AI, they are also wary of the risks the technology poses. Some 34% said it presents a threat to business activity — up from 30% last year.

Concern for the top AI risks among SME professionals is significantly more widespread than in previous years. The threat of AI replacing jobs was cited by 68% of respondents, versus just 17% last year — around 25% of Singapore SMEs foresee jobs in customer service, finance and accounting to be fully replaced by AI within three years, while 22% expect roles in routine manual work and labour-intensive tasks to be fully replaced after six years. In addition, 66% of SME leaders have AI-related privacy concerns in contrast just 10% in 2024; and 51% are anxious about AI-linked security breaches, compared to 15% a year earlier.

While awareness of the pitfalls of AI is on the rise, knowledge of cyber risks is declining: just 40% of Singaporean SMEs believe they are fully informed of the risks, down from 47% a year earlier. This may be one reason behind the proportion of businesses experiencing a slight increase in cyber events, from 25% to 27% year-on-year.

SMEs are actively seeking solutions to meet cyber threats across a wide range of measures. However, these don’t include insurance, where the proportion of businesses covered has dropped from 38% to 36%. Of the 68% of respondents who do not have any form of cyber insurance, 51% would consider purchasing it, while 15% would categorically not consider it. The top reasons behind this stance include cost; the fact that their business doesn’t store data; and the perceived low impact of such events on their businesses.

“While local SMEs are aware of their knowledge gap on cyber risks, they are still not compelled to purchase insurance, on the basis of cost control. Though a worrying trend, given increased technology dependencies, we believe insurers like us can still add value to the SME community by providing tools that assist them with risk mitigation in the current cyber risk landscape,” added Mr. Goh.

An omnichannel customer experience is still preferred

Despite cyber concerns, an omnichannel customer journey that fuses offline and online touchpoints remains the preferred purchasing option by Singapore SMEs. In line with last year’s survey findings, some 65% prefer buying offline (2024: 66%), while 35% prefer online (2024: 34%). In the offline space, use of agents as the preferred channel is up (2025: 29%; 2024: 27%), while the use of broker (2025: 13%; 2024: 16%) and bank (2025: 10%; 2024: 14%) channels are both down. In the online area, online-direct is up (2025: 22%; 2024: 18%), yet the online-aggregator channel is down (2025: 13%; 2024: 16%).

Notably, reliance on agents and brokers across the end-to-end insurance buying journey has increased across all touch points, except when asking questions. As such, 73% of SMEs prefer an insurance package tailored to their unique needs, covering multiple business risks — while 27% want individual products that cover specific business risks.

“Businesses that are able to successfully upskill their current workforces with the abilities to operate and oversee AI will reap the many rewards the technology offers now and in the future. The proliferation of AI is not about replacing people with machines, but rather, about adapting our workforces to meet this new paradigm,” said Ronak Shah, CEO of QBE Singapore. “That SMEs continue to embrace an omnichannel buying experience underscores how policyholders acknowledge that the future of conducting business is humans harnessing technology – transforming both insurance and customer experiences, and the risks as well as benefits associated with its usage.”

Appendix: Singapore-Hong Kong SAR SME survey: Business outlook summary

For results of a similar survey conducted with Hong Kong SMEs, please visit this link.

2025 vs. 2024 results

Singapore

Hong Kong SAR

Top 5 business challenges

(2025: 2024)

1)      Increasing costs / reduced profitability (66% : 50%)

2)      Sales growth / reduced customer spending (56% : 40%)

3)      Finances (cash flow, funding, investments, forex etc.) (51% : 36%)

4)      Growing the business (50% : 36%)

5)      Increasing competition (50% : 39%)

1)      Increasing costs / reduced profitability (59% : 40%)

2)      Staff acquisition and retention / labour shortage (50% : 39%)

3)      Finances (cash flow, funding, investments, forex etc.) (49% : 34%)

4)      Economic uncertainty and financial resilience / economic downturn (47% : 30%)

5)      Shortage of orders / business decline / closing down (46% : 33%)

 

Top 5 business concerns

(2025: 2024)

1)      Cost of running the business (62% : 39%)

2)      Getting new customers / keeping customers (55% : 37%)

3)      Long-term profitability (53% : 34%)

4)      Cost of staff (48% : 33%)

5)      Possible economic downturns in Singapore or other countries (48% : 29%)

1)      Cost of running the business (46% : 35%)

2)      Possible economic downturns in Hong Kong or other countries (41% : 27%)

3)      Long-term profitability (39% : 30%)

4)      Shifting to a sustainable business model (39% : 30%)

5)      Consolidating services (39% : 33%)

Business outlook

(2025 : 2024)

Economic confidence

•         Better (52% : 60%)

•         Unchanged (26% : 22%)

•         Worse (22% : 18%)

Business sales outlook

•         Increase (55% : 62%)

•         Unchanged (29% : 25%)

•         Decrease (17% : 13%)

Economic confidence

•         Better (64% : 70%)

•         Unchanged (19% : 14%)

•         Worse (17% : 16%)

Business sales outlook

•         Increase (65% : 70%)

•         Unchanged (21% : 20%)

•         Decrease (14% : 10%)

About QBE Singapore

Present in Singapore for more than a century, QBE Insurance (Singapore) Pte Ltd, a general insurance and reinsurance company, is the Republic’s oldest registered Australian company.

Established in 1891, QBE Singapore is a trusted provider of specialist expertise and professional insurance services. Our insurance specialists develop leading-edge products that are client-focused, delivering cover tailored to deal with everything from complex risks to more simple and straightforward insurance needs.

QBE Insurance (Singapore) Pte Ltd is part of the QBE Insurance Group which is listed on the Australian Securities Exchange and headquartered in Sydney. To learn more about QBE Singapore, please visit www.qbe.com/sg

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SOURCE QBE Singapore

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Solid Joins Snowflake and Industry Leaders to Advance Open Standards for AI-Ready Semantic Context

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The Open Semantic Interchange (OSI) creates a universal semantic framework that enables AI agents, analytics platforms, and data systems to share trusted business context across the modern data ecosystem.

NEW YORK, July 13, 2026 /PRNewswire/ — Solid today announced it is joining the Open Semantic Interchange (OSI), an open source initiative that creates a universal specification for all companies to standardize their fragmented data definitions with an open, vendor-neutral semantic model specification. OSI aims to enhance interoperability across various tools and platforms, offering enterprises a vendor-neutral specification that provides consistent metrics and definitions across dashboards, notebooks, and machine learning models.

OSI is an open source initiative led by Snowflake, the AI Data Cloud company, and ecosystem partners across multiple domains and industries including business intelligence (BI), data governance, data engineering, AI, financial services, and manufacturing. Its goal is to create a common, vendor-agnostic specification that defines semantic metadata in a standard, open format. By facilitating seamless semantic metadata exchange, the initiative will accelerate the adoption of AI and BI tools to streamline operations and reduce complexity. This in turn allows organizations to unify their data definitions, leading to more comprehensive and accurate data analysis and data product sharing to fuel AI innovation.

By joining the Open Semantic Interchange, Solid is committed to the creation of a universal standard that simplifies data operations and accelerates innovation for the broader ecosystem,” said Yoni Leitersdorf, CEO & Co-Founder, Solid. “Our participation ensures that semantic context can automatically move seamlessly across AI agents, data warehouses, BI tools, and analytics platforms – enabling organizations to build reliable AI systems on top of a shared, interoperable understanding of their business, without vendor lock-in.”

As a member of OSI, Solid is helping to build a transparent and community-driven standard for semantic model sharing, ensuring that business metrics and definitions remain consistent and interoperable.

“Unlocking the full potential of data and AI requires a common foundation, and the Open Semantic Interchange is the critical step in building that bedrock,” said Josh Klahr, Director of Analytics Product Management at Snowflake. “Our collaboration with partners like Solid establishes a unified, vendor-neutral standard for semantic data, ensuring clarity and consistency across the entire ecosystem. This initiative is essential for simplifying data operations, fostering innovation, and preparing organizations to build the next generation of AI applications.”

OSI is poised to revolutionize interoperability within the data and AI ecosystem by providing a transparent, community-driven standard. This collaborative effort simplifies data operations, unlocks new possibilities for innovation, and gives organizations the flexibility and efficiency they need to build a future-ready data infrastructure.

To learn more about the Open Semantic Interchange visit Snowflake’s blog here.

About Solid

Solid is the AI-native context layer for enterprise AI, automatically creating, evaluating, and maintaining the semantic context AI agents need to understand and act on business data reliably. Unlike legacy semantic layers built for dashboards and manual modeling, Solid continuously benchmarks accuracy, detects data changes, and keeps AI systems aligned as the business evolves. The result is faster deployment of trusted AI agents, workflows, and analytics across any data warehouse or AI platform.

To learn more about Solid, visit getsolid.ai

Media Contact: Blair Bader, blairb@getsolid.ai

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SOURCE Solid Data, Inc

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Orbis Marks 30 Years of Advancing Eye Health in Vietnam Through Long-Term Partnership and Training

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Flying Eye Hospital project in Da Nang, supported by FedEx, advances locally led eye care and expands access across Central Vietnam and the Central Highlands.

DA NANG, Vietnam, July 24, 2026 /PRNewswire/ — Global eye care nonprofit Orbis International is marking three decades of collaboration with Vietnam’s eye health community, a long-term partnership that has helped build local expertise, strengthen institutions, expand access to care, and support Vietnam’s growing leadership in eye health across the Asia-Pacific region.

The arrival of the Orbis Flying Eye Hospital in Da Nang represents the next chapter in that partnership. At the invitation of Da Nang Eye Hospital and with approval from the People’s Committee of Da Nang City, and support from Da Nang Department of Health, and other relevant departments and local authorities, the project will serve as a platform for hands-on training, innovation, and knowledge exchange. Through clinical training and mentorship across key specialties, the project will help approximately 230 eye care professionals build skills that will benefit communities for years to come, while supporting access to specialized services for nearly 9 million people in Central Vietnam and the Central Highlands.

Cybersight, Orbis’s telemedicine and e-learning platform, is an integral part of every Flying Eye Hospital project—connecting in-person training with continuous learning before and after the aircraft is on site. Through Cybersight, participants can prepare in advance, consult with global experts, access ongoing education, and continue building skills long after the project concludes, extending the impact of the Flying Eye Hospital far beyond the aircraft itself.

“This project is not a standalone intervention; it is the latest chapter in a long-term partnership to advance Vietnam’s eye health system,” said Ngoc Pham, Orbis Vietnam Country Director. “The most important outcome is not what Orbis has done in Vietnam, but what Vietnamese institutions and eye care professionals now lead themselves. Our role at Orbis is increasingly to support, convene, innovate, and accelerate that local leadership so progress continues long after the Flying Eye Hospital departs.”

“Around the world, Orbis is focused on creating lasting change by investing in people, institutions, technology, and local leadership,” said Kathleen Sherwin, President and CEO of Orbis International. “The Flying Eye Hospital is one part of that larger model—bringing intensive, hands-on training together with tools like Cybersight, artificial intelligence (AI), and research so local teams can continue improving care long after a project ends. Vietnam shows what is possible when long-term partnership helps proven solutions take root and scale.”

Building on decades of progress, Vietnam is emerging as a regional leader in eye health, with particular strengths in pediatric care, diabetic retinopathy, retinopathy of prematurity, workforce development, and technology-enabled care. Its growing experience in AI-supported screening, implementation, research, and evidence generation can help inform eye health progress across the Asia-Pacific region.

FedEx, a long-time supporter of Orbis, and a title sponsor for this Flying Eye Hospital project in Vietnam, donated the MD-10 aircraft that serves as the Flying Eye Hospital and continues to provide essential logistical, financial, and operational support. Volunteer pilots from FedEx fly the aircraft to its destinations around the globe. FedEx is represented on the Orbis International Board of Directors.

“At FedEx, we believe that connecting people goes beyond delivering packages – it is about creating opportunities and helping communities thrive,” said Ee-Hui Tan, managing director of FedEx Vietnam and Cambodia. “We are proud to support the return of the Orbis Flying Eye Hospital to Vietnam. Together with Orbis, we are investing in the knowledge and skills of healthcare professionals, helping strengthen Vietnam’s eye care system so more patients can access quality care closer to home.”

Underscoring Orbis’s commitment to high-quality training and patient care, QUAD A, a nonprofit accreditation organization, works with Orbis to ensure that the Flying Eye Hospital meets rigorous standards that prioritize patient safety.

Over the past 30 years, Orbis has supported the training of more than 40,000 eye care professionals and helped expand access to care for millions of people across Vietnam. Today, Vietnamese institutions and professionals are increasingly leading innovation and delivering high-quality care independently, demonstrating the impact of sustained investment in local capacity, technology, and systems change.

Looking ahead, Orbis will continue working with partners across Vietnam to scale proven solutions through workforce development, technology, Cybersight, AI-supported screening, research, and stronger health systems—so that more people can receive quality eye care closer to home.

Orbis in Vietnam

Since beginning work in Vietnam in 1996, Orbis has worked alongside government partners, hospitals, and training institutions to expand access to quality eye care and build sustainable local capacity. Cumulative impact includes:

More than 40,000 eye care professionals trained.More than 5.2 million people reached with eye care services.More than 139,000 sight-saving surgeries supported.17 retinopathy of prematurity centers supported.12 vision centers strengthened to bring care closer to communities.National clinical guidelines supported across priority eye health areas.Cybersight and AI-supported screening deployed to expand training, consultation, and early detection.

This work has supported national clinical guidelines, stronger referral pathways, improved treatment outcomes, and new models of care in areas including retinopathy of prematurity, pediatric eye care, school eye health, cataract, diabetic retinopathy, and glaucoma.

As the partnership continues, Orbis and its partners are focused on scaling proven solutions through workforce development, technology, Cybersight, AI, research, and stronger health systems—so that everyone can access quality eye care closer to home.

About Orbis International

Orbis International works around the world to prevent blindness and restore sight for children and adults in places where eye care is out of reach—so vision problems don’t make it harder to learn, earn a living, or enjoy life. Around 1.1 billion people live with vision loss, but with the right care, 90% of it is completely avoidable. That is why Orbis trains doctors, nurses, and other eye care professionals to provide care in their own communities—and works to make sure people of all ages can access the eye exams, glasses, medicine, and surgeries they need to protect and restore their sight. Orbis began this work more than 40 years ago with the Flying Eye Hospital, a teaching hospital on a plane that brings expert training and care where they’re needed most. Today, we also work with local hospitals and clinics across Africa, Asia, and Latin America to make eye care available to more people, and we use and develop technology—like our award-winning Cybersight e-learning and telehealth platform, artificial intelligence screening, and virtual reality training—to help eye care teams treat patients more effectively. Orbis ranks in the top 3% of U.S. charities, having earned top marks for transparency and accountability from Charity Navigator, GuideStar, and the Better Business Bureau. To learn more, please visit orbis.org

About FedEx Corp.

FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $92 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Media Contacts

Orbis Vietnam
Nhung Nguyen
Communications Officer
Nhung.nguyen@orbis.org
+84 0904562983

Orbis International
Jenna Montgomery
Interim Lead, Global Communications and Marketing
Jenna.montgomery@orbis.org

FedEx
Heather Harshbarger
Communications Advisor
+1 901-690-9869

 

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SOURCE Orbis International

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In HelloNation, Property Management Expert Karen Nolan Explains What Property Managers Do for Landlords

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The article outlines how property management services support landlords through tenant screening, maintenance, and lease enforcement.

MENIFEE, Calif., July 24, 2026 /PRNewswire/ — What do property managers actually do for landlords in Menifee, CA? HelloNation has published an article that provides clear answers and practical insight into the full scope of property management services.

 

The HelloNation article explains that a property manager handles far more than rent collection. Property management services begin with marketing vacancies and attracting qualified renters in Menifee, CA. The article explains how tenant screening plays a central role in protecting landlords by carefully evaluating applicants and reducing the risk of future issues.

According to the article, tenant screening helps ensure that each tenant meets financial and behavioral expectations. This step supports stable occupancy and reduces turnover, which is critical for any landlord managing property in Menifee, CA. Property Management Experts note that consistent tenant screening also helps maintain the long-term value of rental properties.

Once tenants are placed, the article outlines how a property manager becomes the main point of contact. Property management services include responding to tenant concerns, handling communication, and enforcing leases. By managing these responsibilities, the property manager allows the landlord to avoid direct disputes and maintain professional distance.

The article emphasizes that lease enforcement is essential to protecting both the property and the agreement. Property managers monitor compliance with lease terms and address violations when necessary. This structured approach helps landlords in Menifee, CA, maintain order and consistency across their rental properties.

Maintenance is another major focus of property management services. The article explains that property managers coordinate maintenance and oversee property repairs to keep homes safe and functional. While they may not perform repairs themselves, they manage vendors, schedule work, and respond to urgent issues quickly.

The article notes that timely maintenance and property repairs prevent small issues from becoming larger and more expensive problems. This proactive approach supports tenant satisfaction while preserving the property’s condition. Property Management Experts highlight that consistent maintenance planning is a key benefit for any landlord.

Beyond daily operations, the HelloNation article describes the administrative side of property management services. A property manager prepares leases, maintains records, and ensures compliance with local and state regulations in Menifee, CA. This includes staying informed about legal requirements that affect landlords and rental properties.

Financial oversight is also part of the role. The article explains that property managers handle rent collection, manage deposits, and provide regular financial reporting. These services give landlords a clear understanding of property performance without requiring constant involvement.

For landlords who own multiple properties or live outside Menifee, CA, the article highlights the value of professional property management services. A property manager helps streamline operations, coordinate maintenance, and ensure that lease enforcement and tenant screening are handled consistently. This reduces stress while improving efficiency.

The article concludes that understanding the full role of a property manager helps landlords make informed decisions about their level of involvement. With responsibilities that include tenant screening, maintenance, lease enforcement, and property repairs, property management services offer a comprehensive solution for effectively managing rental properties.

What Do Property Managers Actually Do for Landlords in Menifee features insights from Karen Nolan, Property Management Experts of Menifee, California, in HelloNation.

About HelloNation
HelloNation is a premier media platform that connects readers with trusted professionals and businesses across various industries. Through its innovative “edvertising” approach that blends educational content with storytelling, HelloNation delivers expert-driven, good-news articles that inform, inspire, and empower. Covering topics from home improvement and health to business strategy and lifestyle, HelloNation highlights leaders making a meaningful impact in their communities.

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