Not enough businesses are prepared for a downturn

More astute businesses keep an eye on cost productivity, practise balance sheet discipline, and go for aggressive growth plays and proactive M&As.

DESPITE a long run of strong economic growth in Singapore and South-east Asia, the next global recession will have serious effects here.

It's a turbulent world, and Singapore relies substantially on exports to China, the US, Europe and elsewhere, as well as capital flows from abroad.