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Winter Has Come! Hi, How are you? In the last 6 months, I noticed this phenomenon happening among SMEs in Singapore. For many B2C companies, they have been experiencing a slow down in consumer demand for the last 2 years. This has been happening across many sectors: F&B, Retail, Consumer Services and etc. This creates a double whammy as revenue drops and expenses increases, causing a significant headwind for many B2C SMEs owners in Singapore. Whereas for B2B businesses, the

Let's take a break! Hi, Hope you are well! In the last 2 months, I have been talking to plenty of business owners and acquirers. Coincidentally a good handful of them asked me similar questions, hence I thought of sharing it on this newsletter for the benefit of everyone's learning. Question 1: I have been hearing a lot of interest in the M&A space for SMEs (below SGD $30 mil transaction value). Are there actual transactions or is it just noise? Ans: There are a handful

Hi, How are you? Often time, I come across SME owners who are curious on why there are people in the market looking to acquire businesses. In this short YouTube video, I will share the 6 common reasons why people are buying businesses in Singapore and Malaysia. Over the past 12 months, I have encountered different profiles of buyers with varying level of experience in M&A. As such, I have decided to roll out a Buyer Process & Expectation Framework Agreement for buyers worki

Orangutan in the rain! Hi, How are you? May has been a month of Maybes for me. An interesting month filled with unpredictable developments. Lol. Very often, in my line of work, I come across many different types of business acquirers. An increasingly common type of business acquirers in Singapore are those in the ETA (Entrepreneurship Through Acquisition) space. They tend to be corporate executives who want to transit into entrepreneurship, via the acquisition of a SME. I

Ridding a tiger, unable to get off Hi, How has 2026 been for you so far? For a lot of SME owners and politicians around the world, it has been nothing short of shock, uncertainty or even fear. Donald Trump has started his war in Middle East that reverberate its effect globally. He may have dug himself a deep hole and unable to find any meaningful long-term resolution for the current situation. (A Chinese proverb for his situation is called 骑虎难下. It describes a situation whe

Business valuation report For many SME owners who thought of selling their business in Singapore, it’s common to see them approaching a third-party business valuation firm. Yet often time, they get a shock when they received the offers from the buyers. There tend to be significant valuation gap in the offers, compared to the figure in the business valuation report. While most people are not aware, a business valuation report can only serve as a guide. Given the myriad facto

Amazon: An E-commerce Marketplace I regularly come across individuals who are keen to acquire an e-commerce business. Often time, they have no idea on how to analyse it, aside from looking at the revenue and profit trend, plus the product review. In this guide, I will share with you some helpful tips to objectively evaluate E-commerce business for sale, before you get your fingers burned! Most E-commerce can be broadly categorized into 2 segments: Marketplace E-commerce bra

Old Bird versus The Idealist In Singapore, the Mergers and Acquisitions (M&A) scene for Small and Medium Enterprises (SMEs) is getting more limelight. Whether it’s a serial entrepreneur looking for their next acquisition or a corporate professional seeking to buy their way into entrepreneurship through acquisition (ETA), the influx of buyers is starting to create an impact. However, for a business owner looking to exit, not all buyers are created equal. At Fey Day , we often

When buying or selling a business, understanding the language used in mergers and acquisitions (M&A) is crucial. The process involves many technical terms that can be confusing for those new to the field. Knowing these terms helps buyers and sellers communicate clearly, make informed decisions, and avoid costly mistakes. This guide covers the most important terminology you need to navigate business transactions confidently. Key contract document for business sale, highlightin