SINGAPORE – Hope seems to spring eternal in the hearts of wannabe restaurateurs and chefs. Despite the hell that the food and beverage (F&B) industry went through during the pandemic, restaurants are sprouting up like mushrooms after Armageddon.
From January to September 2023, 2,807 F&B business entities were formed, according to business registry statistics from the Accounting and Corporate Regulatory Authority. In 2022, it was 3,335. Even in 2020, when the pandemic hit, it was 3,285.
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