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Disruptions by Industry 4.0, technologies, and trade wars were already causing the realignment of global supply chains, and economies worldwide were in a tailspin. The #COVID-19 pandemic only accelerated the changes. The path to recovery will likely be long and painful, especially for SMEs in the traditional manufacturing and service sectors.
In this APO Productivity Talk, Prof. Inderjit Singh, founder of one of Singapore’s first tech unicorns and many other successful businesses, will share his personal experience on surviving downturns. He draws parallels between the Great Depression (1929–1939) and the current situation and will share insights on how SMEs in the region can survive and thrive. Prof. Singh believes that there is no need to be over-pessimistic in bad times and that there are always opportunities. Some of the best companies today started during a recession. SMEs in particular need to stay resilient and look at digitization, innovation, and regional collaboration for business transformation.
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