CNA Singapore’s restaurant closures: Why is it closing time for some in the F&B scene? | Deep Dive

Running a business in Singapore is no easy feat, especially in the fiercely competitive F&B scene. For every outlet that closes, another quickly steps in. But does this constant churn signal a thriving industry or does it point to a growing challenge for local entrepreneurs competing against well-funded foreign players? In this week’s Deep Dive, Steven Chia speaks with co-founder of The Black Hole Group Mustaffa Kamal and restaurant industry watcher Debbie Yong to unpack what it really takes for F&B establishments to stay relevant and profitable in one of the toughest dining landscapes around.

Highlights:
01:57 – The most difficult part about running an F&B establishment
05:14 – Many reasons behind restaurant closures
06:20 – Is rising rent the biggest culprit?
10:25 – The importance of holding on to your regular customers
12:23 – Operators need to do their homework
15:06 – Why one new player can disrupt the entire industry
17:08 – Is the influx of new foreign-owned chains a good thing?
18:40 – Why expecting government handouts can be dangerous
22:16 – Why businesses should be more open about their failures

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Watch the full video on YouTube