Running a business in Singapore is no easy feat, especially in the fiercely competitive F&B scene. For every outlet that closes, another quickly steps in. But does this constant churn signal a thriving industry or does it point to a growing challenge for local entrepreneurs competing against well-funded foreign players? In this week’s Deep Dive, Steven Chia speaks with co-founder of The Black Hole Group Mustaffa Kamal and restaurant industry watcher Debbie Yong to unpack what it really takes for F&B establishments to stay relevant and profitable in one of the toughest dining landscapes around.