While a number of countries are still conducting an all-out war against the pandemic, others have managed to contain the spread of the virus well enough that they are now slowly lifting restrictions and reopening their economies. These nations and the businesses within them are stepping out into a ‘new normal’. The global business and economic landscape has been changed forever. Organisations must adapt to new wants, needs, and expectations; or risk being left behind by the rapidly evolving landscape.
Many might think that now is not really the best time to be starting a business, with the economy being in the poor state it is. However, the only way to get businesses back on track is to stimulate the economy and get people spending once more. Besides, there are still plenty of things that consumers demand that could be met with new supply.
In fact, while the pandemic has cut demand for certain goods and service, it has also generated brand new demand for goods and services that were otherwise rather niche. Those who are seeking to start their own business should take the time to research and consider what it is that consumers want post-pandemic, and position themselves to offer the appropriate solutions.
While forming a start-up would be rather difficult at this time, buying into an already established franchise is actually not such a bad idea. Instead of building a brand, you can use the marketing collateral of the franchisor; as well as gaining access to training and processes that have been tested across other franchises.
In this edition of SME, we will be taking a look at a number of franchises that are quickly gaining steam amid the post-COVID recovery period.
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Denne historien er fra September 2020-utgaven av SME Magazine Singapore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Cloud- Driven Recovery
With digital transformation being an important catalyst for Malaysia’s inclusive economic recovery, cloud computing plays an important role that enables . the country to acquire the advantages that technology offers.
Live Werkz: Venturing Beyond Southeast Asia
Being forward-looking in its approach has enabled LiveWerkz Pte Ltd to survive the Covid-19 pandemic, says vice president Tricia Ng. Despite being a Singaporean company, the company does not focus its efforts in the Southeast Asia region. Instead, Greater China and the Middle East become the foundation for its businesses. Ng tells SME the company’s strategies in facing a challenging future.
Singapore's Go Digital Well Received
More than 78,000 of Singapore’s SMEs have participated in the country’s Go Digital programme since its 2017 launch, with more about 40,000 becoming participants last year, including 30,000 that received Covid-19 incentives from the government.
Accountants And SMEs: Creating A Sustainable World
For SME finance professionals, ‘sustainability’ is about achieving longevity. However, there is a confusion over different definitions of sustainability. They recognise the growing importance of tackling sustainability issues but lack the understanding of how doing this can be integrated into day-to-day practices within the finance function.
Rebuilding Our Mental Well-Being In Sales
Sue Barrett is a writer, training provider and entrepreneur who founded Barrett in 1995 to positively transform the culture, capability and continuous learning of leaders, teams and businesses.
Omicron: A Test Of Resilence
Global manufacturers have been facing a supply chain crisis since the start of the year. Just as it appeared that the situation was beginning to stabilise, the Omicron Covid variant reared its ugly head.
Silver Lining In The Cloud
Although RAS Security Pte Ltd’s business was adversely affected by the pandemic, there’s a silver lining in the cloud. The occurrence has necessitated the company to innovate its business model to remain viable and led to the discovery of new areas of security service provision. Managing director Tejdeep Singh shares his journey.
Accelerating Artificial Intelligence
Singapore is introducing two new public artificial intelligence (AI) programmes as part of the strategy to use technology for social and economic good, involving a total allocation of S$680 million to accelerate AI research. The latest initiatives require a funding of S$180 million.
Three Tips For Hiring Top Talents
BIG EGOS LOSE TALENTS First up, when it comes to hiring, you must put aside your ego.
The Economy Is Recovering, But What About People?
All signs are pointing towards a speedy recovery. Contrary to what this writer initially predicted, the economy seems to be genuinely recovering.
