Coronavirus: from coffee in Hong Kong to burgers in Malaysia and Ramadan in Singapore – here’s how Asia’s small businesses cope with Covid-19
- Whether it’s smashed beef patties in Malaysia or smashed Australians playing darts in a pub, even Covid-19 can’t keep a good business idea down
- Asia’s SMEs are rising to the challenges posed by the coronavirus by adapting their business models and focusing on the positives
As the coronavirus continues its spread across the globe, economists are warning that small and medium-sized businesses are shaping up to be its greatest economic casualty.
That is particularly worrying in Asia, where such firms account for more than 90 per cent of businesses and employ half of all workers.
Luckily, the region’s entrepreneurs are a hardy bunch, not easily dissuaded from their dreams even when faced with what some people are touting as the greatest economic upset since the Great Depression.
Here are five case studies, taken from across the region, of how SMEs are adapting to the challenges posed by Covid-19 – and proving that even the smallest of businesses can have the biggest of hearts.
THE HONG KONG CAFE OWNER
From being a full-time barista to selling espresso machines, Wong Yat-chun’s life had always revolved around coffee. So when the young Hongkonger saw the opportunity to open his own coffee shop four years ago, he jumped at it.
“I had always dreamed of having my own cafe so I poured all my money into opening the shop,” said Wong, 29, whose initial start-up capital was HK$1 million.