The coronavirus pandemic is spreading globally and because of this, Singaporean owned businesses are facing a slump overseas. People are being advised to socially distance themselves and avoid gatherings, this is leading to a large dip in foot traffic for restaurants and other stores.
Some other pop up stores have to be ready for most events to be cancelled or postponed.
Because of the social distancing measures, food delivery services could have a larger demand in this time and therefore some restaurants are working with more food delivery companies to tide them through this difficult period.
UK has announced a 30 billion package to assist local businesses with getting through the coronavirus situation. Part of this package is a loan scheme and extension of paid medical leave for staff who are not working due to the coronavirus.
There has been a recent surge in the number of people who have tested positive in the UK. And while businesses in the west continue to succumb to the situation, in Asia, businesses similarly face a challenging road ahead.