“In other markets such as China, we are facing not only local competition but also international brands. When moving into a new market, the funding is crucial.”

To George Quek, expansion into China, an immense but foreign market, came with a challenge every day. Motivated to succeed, George found he could rely on DBS as he made his plans to penetrate the market.

“DBS and BreadTalk Group have a long history of partnership, starting with the first Da Shi Dai in China in 1997, followed by the first BreadTalk shop in China in 2003, and the first Food Republic in Hong Kong. DBS supported us.”

Thanks to this partnership, his BreadTalk Group has weathered numerous crises since its establishment in 2000. To fund the expansion of his business, George was fortunate to find a banking partner, who “stuck with him through thick and thin”.

“I've had DBS as a business partner since 1997. After I started my first BreadTalk shop in China in 2003, we needed to build a factory to support the business. It was hard as the investment was huge. But DBS came in as the first bank to support my new venture in China. We've never looked back since.”

Backed by a reliable banking partner, George is still moving forward on his new business investments, while others have backed away from Singapore's property market. For George, the current economic downturn has its advantages as he finds that it's surprisingly easier to negotiate for lower rental with the help of DBS.

Read on to find out how George took his business to the world