One of the worst nightmares of being a small business boss is going into the workplace and finding that everybody is doing nothing on the job. It’s the worry of money flying away as your costs continue to run without something generating money.
Or that the place you rented or equipment you bought that was planned to generate profit in a year is suddenly useless and there’s no method of refund.
The reality of being a boss is generally hard work and suffering. If the business doesn’t pay off, then the result is just suffering.
Boss: Please stop you’re making me anxious about Goody Feed’s future.
Relax boss, we’re not talking about you.
Remember those Pasar Malams people go to every few months or so? Every stall there probably has a small business owner behind it. And they’re waking up every day to see their nightmares in reality.
Pasar Malam Had Two Months of “Zero Income”, Forced To Retrench Half Their Employees
According to an interview by Zaobao, Trade Fair Merchants’ of Singapore’s person-in-charge Zheng Kun Hua, 64, many Pasar Malam contractors and stalls are facing a situation of “zero income”.
Many were staying at home and there were also not many foreigners.
Zheng said, “I am also operating a few Pasar Malam stalls. Originally, I had 20 employees. After night markets were restricted, I had to retrench and send half of them back homes to reduce costs.”
Even so, the remaining 10 are unable to work. Despite having no income, Zheng still has to pay their wages.
“After government subsidies, I still have to put out S$5000.”
Now you might be thinking: Hah, boss means must have savings right? You think playing the pity card works?
A Pasar Malam Stall Had To Borrow Money
Pasar Malam stall owner, Wang You Yu, 66, revealed that he usually had three or four-night markets every month. But he is worried about the worsening situation with zero night markets since March.
“I sell small bites at the night market. Currently, every work has stopped, but I still have to take care of my family and employees. The costs every month is nearly S$10,000. Now I have started borrowing money to survive, and I can’t hold on much longer.”
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Remember, these are just the people interviewed. Those many stalls you see, each with a different owner, are probably in a different situation.
It’s strange to hear, but we live in a world where small businesses are operating on the margins and can make or break with just a few months of operations.
That’s small business economics in a nutshell.
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