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

Autos3 days ago

In a Car Accident? Here’s How to Find a Great Lawyer

If you’ve recently been in a car accident, you know that it can be an overwhelming experience. Not only do...

Education4 days ago

Considering Therapy? Here’s a Few Common Therapy Techniques Explained

If you’re considering therapy as a means to improve your mental health, you may be curious about the type of...

home repairs home repairs
Home Improvement5 days ago

Top 5 Home Repairs You Should Never DIY

DIY home repairs are all the rage these days. But before you jump on the bandwagon, there are some things...

Health2 weeks ago

The Power of CBD Oil for Relaxation: How to Use it for Sleep and Stress Relief

If you’re struggling to get a good night’s sleep or feeling stressed, try CBD oil. CBD oil has a moment...

General2 weeks ago

Benefits of Getting your Mobile Phone Repair

Mobile phone repair is a task that needs high skills and experience. That is why we always recommend users trust...

Home Improvement2 weeks ago

Great Ways To Clean To Get Your Security Deposit Back In Full

Moving is almost always stressful as there are tons of things to plan and do. Getting your security deposit back...

Home Improvement3 weeks ago

DIY Garage Door Repair: Tips and Tricks for Fixing Common Problems and Maintaining Your System

If your garage door needs to be fixed, wait to call a repairer. Many common problems can be fixed quickly...

Education4 weeks ago

7 Tips to Choosing the Right University for You

Are you considering continuing your education at university? If so, it can be overwhelming to decide which school is right...

Finance1 month ago

3 Ways Loans from Credit Unions Are Different From Major Banks

If you’re in the loan market, you may wonder if a credit union is the right choice. Here are three...

Food1 month ago

The World of Coffee: Exploring the Aromas, Flavors, and Benefits of the World’s Most Popular Beverage

Coffee is one of the world’s most popular beverages, enjoyed by people of all ages and backgrounds. It’s also one...

Education2 months ago

New Driver? 5 Things to Consider When Looking for Driving School

When it comes to choosing a driving school, there are many factors to consider. Not all driving schools are created...

Home Improvement2 months ago

Landscape Irrigation Systems: The Basics

If you’re a homeowner, you know that keeping your lawn and landscaping looking nice can be a lot of work....

Travel2 months ago

5 Things to Look for in Luxury Hotels

When it comes to luxury hotels, there is a lot to look out for. Here are five key things that...

Home Improvement2 months ago

Is There a Difference Between Commercial and Residential Concrete?

If you’re a contractor, you know that concrete is a versatile construction material. But did you know that there are...

Law2 months ago

5 Tips to Find the Right Litigation Firm

When it comes to selecting the right litigation firm for your legal needs, choosing wisely is of utmost importance. It’s...