Government reports claim that Singapore’s GDP for 2019 is 2.1% compared to the previous forecast of 2.5%. It’s a clear sign that the country is not doing well in terms of production. Most leading business sectors are suffering from losses uncalled for issues that are forcing many companies to shut down their operations. The economic slowdown in Singapore is real and if you want to survive this tough period, you need to prepare yourself to start marketing in slow Singapore economy. There are some crucial steps that need to be taken immediately. The first of them is to minimize your fixed cost.
From employee salaries to huge office spaces, wherever you are spending a lot of money as a fixed cost, you need to cut it down as much as possible. Instead of having full-time employees, you can have freelancers or outsource your work to an agency. Besides, you can focus more on running web-based operations for a better reach in a quick period. These initiatives will help you fight the current economic slowdown and come out of comfortably.