How Is the Financial Turmoil Affecting Your Retail Business?
 

Dear all

It would be interesting to see how the current economic downturn triggered by the global financial crisis is affecting the retail trade in Singapore since it became full blown in Sep 2008.

How is your business currently doing in Q4 2008, which will be the first full quarter since the economy fell into "technical recession" in Q3 2008?

Please participate to see how the overall picture is looking like.

Your participation is anonymous to protect your privacy.

Thank you.

Re: How Is the Financial Turmoil Affecting Your Retail Business?
 

yeah pls share, do u think biz will pick up slowly maybe 3-5yrs later? i wanna be in biz line so much, but this economic down scared me, but I still love to biz, am i in hot soup?

Re: How Is the Financial Turmoil Affecting Your Retail Business?
 

All I can say is in everything you do, there's always a certain risk. I took it up inspite of the economic downturn because people still need to earn a living. People still need to eat and survive. Therefore, people need to spend to boost the economy. If you don't sell because everyone's tightening their wallets, then how will the country proper? Life is a gamble. So is business.

Re: How Is the Financial Turmoil Affecting Your Retail Business?
 

no offence but our local population is too small. as such, increase in internal consumption will not help much at all. therefore you can see the stark contrast between our SG & China govt's approach to encourage internal consumption.

Re: How Is the Financial Turmoil Affecting Your Retail Business?
 

I have been in retail for 3 years and this is a really bad year. Sales are down by 40% for the past 2 months so think carefully before you jump in.

Re: How Is the Financial Turmoil Affecting Your Retail Business?
 

After CNY every month my sale had dipped until 60% luckily i do not have any worker so my cost not very high. I also thought of selling my business after my contract finish.Nowadays you want to start retail business better think twice.:juggle: