A global recession may be underway
A post-pandemic recovery for Singapore might be out of reach as Prime Minister Lee Sien Loong warns of a possible global recession looming near. These statements stem directly from the concerns about how the war between Russia and Ukraine might set Singapore back by S$8 billion a year through increasing energy prices.
With Russia being one of the world’s major exporters of oil and gas, energy shortages worldwide has caused electricity and petrol prices to sky rocket.
This significantly impacts Singapore, which imports all of its energy supplies, other than solar power. PM Lee has made it clear that although the Government is striving to minimise the impact, Singaporeans should brace themselves for any possible economic crises.
A solution to this problem is to increase productivity. This means that businesses need to expand at rapid speeds to help the economy grow and negate the effects of inflation.
How can networking help through a recession?
In order to expand businesses quickly, business leaders need to work together. Peer networks are a great way for leaders to support and share new ideas and knowledge through their past or current experiences with each other.
The concept is simple; business executives will gather and discuss current issues and challenges one may be facing and receive advice from each other.
Networking has become more vital than ever as a way to:
- contribute to value proposition
- introduce you to investment opportunities
- or be the strongest supporters of your work
A simple way to build a network is by connecting with those that have similar work experience, characteristics and interests to offer the right encouragement and tips — acting as a safety net and a safe space to commiserate with others going through similar situations.
Preparing for unprecedented changes and unexpected challenges with the right confidential peer group such as EGN can help to ensure you are recession-ready.
With that being the case, we are proud to introduce our entry-level membership at the affordable price of S$1,990. This means that you can still be a part of our cross-functional events and networking nights but peer group meetings are conducted virtually instead of in person. Book your call with us or register as a member today!