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PERSPECTIVE

Built to last: Why companies should be building more new businesses

    • Building new businesses is difficult. Failure is not only an option; it’s common, with only 35 per cent of new builds considered successful.
    • Building new businesses is difficult. Failure is not only an option; it’s common, with only 35 per cent of new builds considered successful. PHOTO: UNSPLASH

    Vivek Lath and Sujin Saj

    Published Fri, Feb 9, 2024 · 01:53 PM

    BUSINESSES that stand still are liable to get run over, particularly in fast-moving South-east Asia. That is one conclusion of our survey of 99 regional corporate leaders about their efforts to build new businesses.

    Almost half said that building new businesses – meaning creating new products, services or businesses from within – has become a higher priority over the last year. All but one has formed partnerships to do so.

    And now there is a new wrinkle: generative artificial intelligence (AI). A quarter said the emergence of generative AI will likely nudge them to invest more in new business-building (NBB).

    Building new businessesStartups

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