3 ways F&B businesses can prepare for the new normal

The government has provided measures and initiatives to support the F&B sector’s shift.

In his speech at the opening ceremony of Restaurant Asia 2021, Minister for Trade and Industry Gan Kim Yong shared three ways on how food and beverage (F&B) businesses can prepare themselves for the new normal. 

Digital transformation

Gan said one way for the F&B sector to emerge strongly from COVID-19 is by transforming through digitalisation and innovation.

Gan said it is urgent for companies to “further develop their online-to-offline strategies and capabilities to effectively engage customers both online and offline.”

In support of this effort, Gan said the government has expanded its Productivity Solutions Grant to include digital marketing solutions.

To assist F&B businesses in developing and innovating their product, Gan said the government led by Enterprise Singapore (ESG) has launched FoodInnovate and The Innovation Advisors Programme.

FoodInnovate, according to Gan, is a “multi-agency platform which supports companies in creating and commercialising food products by providing access to shared production facilities and networks with partners and accelerators.”

The Innovation Advisors Programme, meanwhile, “enables businesses to work with industry veterans who can advise on the development of innovation strategies, new products and solutions, and connect businesses to the right partners.”

Job redesigning

According to Gan, F&B businesses should also invest in human capital by redesigning jobs. 

The minister said Workforce Singapore’s Career Conversion Programme for Food Services Executives or Restaurant Manager roles can help companies build their talent pipeline.

Close collaboration

The third way is through close collaboration between industry players, government agencies, and other organisations.

Gan cited a recent collaboration between the Restaurant Association of Singapore (RAS) and ESG which launched a revamped “Turning Passion into Profits” guidebook for the F&B entrepreneurs.

The minister said the guidebook can provide entrepreneurs with useful information which they can use in planning their F&B journey.