But Asians are again rising to the challenges. There is no one way to survive the avalanche that started in Thailand in July last year. One business may need to cut costs, another to jazz up its marketing, a third to get creative about generating revenues - Allum used all of those tactics to beef up business at his Cafe Citron. Many need to improve efficiency and productivity, and to jettison loss-making lines and assets. And no business can afford to think it is safe.
New customers have to be found, and old ones wooed differently.
Long-time bankers and suppliers may have to be reassured or replaced. Plus adapt, adapt, adapt. It doesn't matter how much you sold last year and how you did it. What is important is that as economies slow, unemployment rises, competition gets fiercer and customers have much less to spend. Actually, some businesses practically owe their existence to the slump.