Small- and medium-sized enterprises , which form 99 per cent of businesses in Singapore, have felt the impact of Covid-19 keenly. TODAY’s Voices section is publishing first-hand accounts from SME owners and managers on the highs and lows of running a business in the pandemic.
We regrouped our retail employees temporarily to help meet spikes in online demand in the warehouse at the height of the outbreak.Operating as a remote team also allowed us to easily hire interns who were of a higher calibre than before.Our main challenge has always been cashflow, and one of the biggest crisis-management lessons I learnt during the pandemic is to have a rock-solid balance sheet with cash on hand to weather a crisis.
When the pandemic is over, accelerated digital adoption would have radically changed how we do business.This will bring about innovation.I very much still believe in retail and the in-store experience, but the industry would certainly evolve.Retail and e-commerce started as two distinct channels but are becoming one now.