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Rental costs are often a major deterrent to aspiring entrepreneurs, especially for young business owners who often opt to run home-based businesses in order to avoid the financial burden of paying rent.Reports emerged last week that I-Health Medical Holdings$52k bid for clinic space: Young business owners react, raising concerns over rising rent
Rental costs are often a major deterrent to aspiring entrepreneurs, especially for young business owners who often opt to run home-based businesses in order to avoid the financial burden of paying rent.Reports emerged last week that I-Health Medical Holdings had successfully bid $52,188 for a unit at Block 954C Tampines Street 96 in March — the highest per square foot rent HDB has ever received for a clinic of that size.Cases of skyrocketing rental fees are becoming an increasing concern for young business owners with physical stores, and Cakeinspiration, a specialty cake shop, is facing the same challenge.Speaking to AsiaOne, 25-year-old Chan Kai Yang, the second-generation owner of Cakeinspiration, said that they'd recently renewed their lease and now have to fork out 40 per cent more in rent to keep their store, located in the heart of Joo Chiat. Read more