Find out why Singapore’s restaurateurs are downbeat on business prospects for 2H14

Expect a decrease in operating receipts and hiring prospects.

It seems that fewer Singaporeans would be giving their compliments to the chef in the second half of 2014. Firms in the food and beverage services industry are downbeat on their business prospects for 2H14, the Economic Development Board’s Business Expectations survey showed.

While other industries in the sector have positive outlooks, a net weighted balance of 5% of firms in the food & beverage services industry expects less favourable business conditions for July to December.

A net weighted 2% of restaurants also expect operating receipts to decrease in 2H14, while a net weighted 10% of food and beverage companies expect to hire less people in the next 6 months.

According to the EDB, “Restaurants cited the shortage of labour as the key factor adversely affecting their business outlook. On the other hand, the food & beverage services
industry expects to hire fewer staff due to shortage of manpower.”