Every other week, another beloved local business shuts its doors, and the reason is almost always the same: rising rents. As closures mount, some say the vacuum is being filled by foreign players, particularly from China. To understand what’s really happening, we speak to the founders of popular halal Chinese eatery Deanna’s Kitchen about their fears for the future, and to Vernon Lim of the Association of Small & Medium Enterprises to unpack what’s driving landlords’ decisions. The answers may surprise you.
(00:58) Say hello to Vernon Lim!
(02:18) Founders of Deanna’s Kitchen
(05:30) Growing trend of businesses closing down
(10:33) Explaining landlord’s decisions
(17:25) Should the government step in?
(30:00) Competition with China-owned businesses
(34:15) “Running a business based on passion is a privilege”
