| Wani Roslan |
WITH the ripple effects of the global economic slowdown caused by the massive decline in oil prices reaching Brunei shores, local small businesses are apprehensive of what future holds for them.
Hana binti Haji Talip, owner of Zulna’s Collection, an online and home-based business, said that shipping costs have gone up and overseas suppliers have increased prices, impacting her business prospect.
“Though shipping costs have risen, we are maintaining prices as we do not want to burden our customers. We have now begun to get involved in bazaars, festivals and expos in Brunei as an alternative way of gain business as mostly we get our sales during paydays,” she said.
However, a young entrepreneur, Nurnajihah binti Adi, a partner of Mummy Rawk, shared that economic slowdown has little impact on their food business, which was established eight years ago.
Hana binti Haji Talip, owner of Zulna’s Collection
Nurnajihah binti Adi, partner of Mummy Rawk
Mohd Jali bin Chuchu, owner of JN SLUSH
Owners of Mila Collections
“We know that prices of some items, especially groceries, are not consistent, and it depends on us to adjust to price fluctuations. Majority of food we sell is in an affordable price range and our challenge is to maintain the price and taste of the food so it can attract more customers,” she said.
Mohd Jali bin Chuchu, owner of JN SLUSH, expressed his frustration over some firms taking advantage of the situation by charging heavily, which causes concern to small businesses owners.
“When the prices of goods increase, we have to adjust our capital. We cannot simply raise the price of food that we are selling. To be in the business, we need to maintain the prices of food but we do make some adjust-ments to keep our customers because we have to pay the rent and salary of our workers as well,” he said.
“Even though economic concerns are mounting, we are able to stabilise our business and receive a good response from buyers. This shows the public is still supporting small businesses in Brunei,” said the owner of Mila Collections, who is in the field of entrepreneurship for more than three years.
In order to boost income, she said, her online business is also actively participating in local festivals and expos.
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