19 Feb '17, 3am

Go abroad, embrace technology: How Singapore firms are navigating the uncertain economy

SINGAPORE: Despite taking up two shophouses along Simon Road in Kovan, only half of the space at Lola’s Cafe is open for business on weekdays. According to its co-founder June Tan, it was a decision that had to be made after business started slowing down considerably eight months ago. “We were still doing fine for the first six months of 2016 but over the last two quarters, sales have fallen and the drop is very pronounced on weekdays.” Since opening in 2013, the cafe has enjoyed brisk business but amid the lingering economic slowdown, the constant flow of walk-in customers it used to see throughout the week has thinned, said Ms Tan. “Weekdays are quite quiet now, even during dinner time. We expanded our space last year but with no demand, I have to close half of my space on weekdays to save costs.” Takings have also decreased at Ms Tan’s second cafe On The Table in Pasir ...

Full article: http://www.channelnewsasia.com/news/singapore/go-abroad-e...

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