Connect with us


Singapore Needs More Entrepreneurs to Stay Competitive

Singapore needs to move into a brighter business future, whereby the island city-state is able to compete with other countries. With this in mind, the country is committed to creating a culture (and government policies) which make it possible for entrepreneurs to hone their business skills and flourish. While entrepreneurial activities are very hit and miss, it’s still important to encourage entrepreneurs, as the five percent who do hit the target often do so with amazing success.

According to the President of the National University of Singapore, whose name is Shih Choon Fong, Singapore will need a lot more entrepreneurs in order to remain in competition with other nations over the next five decades. Even the entrepreneurs who don’t hit it big contribute to Singaporean society and culture by learning business skills which they may use to work with others (if their own ventures don’t quite pan out).


Entrepreneurs have a tendency to push the envelope with their thinking. They are visionaries and the unique skill set that they have is beneficial to Singapore’s business prospects. Without enough entrepreneurs, Singapore may lag behind other countries.

So, there are really no “failures”. Learning from failure may actually be a stepping stone to success later on. So many entrepreneurs have failed (some quite spectacularly) and then moved on to do great things. Even those who don’t achieve greatness help other companies to be great. For this reason, Fong recommends a riskier approach to ventures and to entrepreneurship. He feels that a risk-averse way of thinking inhibits Singapore’s business prospects. He thinks that exploring and experimenting are the keys to creating the right atmosphere for attracting and retaining entrepreneurs.

It’s all about growth to scale. If more entrepreneurs don’t appear in Singapore, other countries will begin to grab pieces of market share from Singapore. This is bad news for the country overall. This is why he is thinking far ahead and recommending the same forward-thinking approach to others. Also, he encourages Singaporean entrepreneurs to consider doing business on a global scale.

He has so many ideas about how entrepreneurship should be encouraged. For example, he wants to create “launchpads” for global innovation in a group of hot spots all over the globe. These “incubators” and shared workspaces will give entrepreneurs a place to start their ventures and then grow them. The goal is to grow companies which have IPO potential.

Singapore Supports Business Innovation

Singapore is already renowned for its fintech presence and it’s also known for its impressive programs, which help tech startups to get the support, funds, mentorship and services that they need in order to become successful. As well, Singapore is known for its wonderful livability. It’s such a safe place and it’s a clean, healthy place, too. People in Singapore are peaceful and fitness-conscious and they believe in looking out for each other. The government really cares about its citizens, so Singapore is definitely a great place to do business.

You don’t need to wait decades to become an entrepreneur in Singapore, so why not start today?

Continue Reading

Recent Posts

Home Improvement3 months ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle3 months ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur3 months ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement3 months ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business5 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Business5 months ago

3 Low-Risk Ways To Get Your New Business Started

Once you’ve got an initial business idea and believe that it will be a success, there are some basic things...

Lifestyle5 months ago

Conquering the Co-free Zone: Tips for Thriving as a Remote Worker

Adjusting to an office environment can come with its downfalls in the sense that it might be a shock to...

General6 months ago

3 Ways To Take Control Of Your Finances Starting Now

If your finances have taken over and are bringing stress to your life, we understand just how overwhelming it can...

Travel8 months ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General8 months ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle8 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos8 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business11 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Lifestyle11 months ago

Tips For Cleaning Your Trainers

If you’re into your trainers and streetwear, you’re likely to be very conscious of keeping them looking their best! So,...

Marketing12 months ago

Branding Trends For Start-Ups in 2023

Branding is incredibly important as it impacts how your business reaches and connects with its target market. If you’re branding...