Fewer cups of kopi-o may be brewed at our kopitiams this year.
The Good and Services Tax hike from 7 per cent to 8 per cent from Jan 1 is also adding further strain to expenses though there areIn the world of business, this triple threat of increased taxes, rising costs and economic malaise seems like a perfect storm. A storm that some might not be able to survive.
While this will definitely help them combat the rising costs of living, it also means more overheads for us. With a significant portion of our customers coming from the lower-income bracket, the GST increase may also have an outsized impact on us. But making the bottom line is not the only thing that is worrying us.Besides increasing costs, we also have had to navigate our way through plenty of policy changes in recent years.
And by the end of this year, this initiative will extend to freshly-brewed drinks as well. Likewise, the unhealthier options will have to be marked, and an advertising ban placed on them.poised to affect coffeeshop operations. Our wish is for the Government to understand the impact such changes have on the ground and that it takes time for older workers and coffee shop operators to adjust to these new things.
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