Part 5/9:
Most frontline businesses operate on razor-thin profit margins—typically around 10%, with the best-performing ones reaching about 15%. During the pandemic, some experienced revenue drops of 50%, 70%, or even 100% during circuit breaker periods, resulting in immediate and severe financial distress. As a consequence, at least 10-15% of Singapore’s small business community, comprising over a thousand members, have closed permanently. Experts project that an additional 5-10% may shutter within the next year depending on how the reopening unfolds.