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
Click to comment

Leave a Reply

Your email address will not be published.

Recent Posts

Business6 days ago

Why Is Quantity Surveying Essential in Construction Industry

Quantity surveying is an essential part of the Australian construction industry. It is the process of calculating and estimating the...

Home Improvement1 week ago

How to Maintain Upholstered Furniture

No matter if you have pets or kids, maintaining your upholstered furniture is quite a challenge. Even though vacuuming it...

Business2 weeks ago

How Do I Find a Good Developer?

Finding a good bubble developer to help build your app or digital product can seem challenging. How can you choose...

Home Improvement2 weeks ago

When is a right time for home repairs?

Summer is a popular time for a renovation around the globe. While it is true that bright days and warm...

Top Alteryx Competitors Top Alteryx Competitors
Tech4 weeks ago

Top 15 Alteryx Competitors

The world has seen a tremendous rise in startups and new incorporations in the business world. Companies have great potential...

Lifestyle1 month ago

Latest Wedding Trends for 2023

If you’re planning on getting married this year, chances are you’re probably overwhelmed and confused when it comes to wedding...

Lifestyle1 month ago

Tips To Make The Most Of Your City Break In London!

London is one of the best cities in the world, known for its quintessentially British culture, great nightlife, fantastic museums...

General2 months ago

The Ultimate Guide To Packing For A Trip To London

London is one of the best cities in the world, known for it’s rich history, quintessentially British culture, the best...

Tech2 months ago

Top 15 Web Development IDEs

The web development field has seen sustainable growth throughout the years. As technology is advancing, so is the web development...

devops devops
Tech2 months ago

12 Key DevOps Programming Languages to Still Popular in 2022

“DevOps is not a goal, but a never-ending process of continual improvement.” – Jez Humble Delivering the finest of services...

Entertainment2 months ago

Festival Fashion Style Tips For 2022

Summer is well and truly here and with that comes the festival season! From the biggest stars performing on stage...

Green & Energy3 months ago

4 Tips For Making Your Wardrobe More Sustainable

Everyone is trying to make more of an effort to make their wardrobe more sustainable, but often are unsure where...

General3 months ago

7 tips on how to organize a budget-friendly move

If you are planning a move any time soon, you might be worried about all the expenses that wait for...

Metal Roof Colors Metal Roof Colors
Home Improvement3 months ago

Metal Roof Colors: How to Select the Best Color for a New Roof

Choosing the right type of material for your roof is enough of a hassle already that the question of choosing...

Health3 months ago

Simple Ways To Feel More Confident At The Gym

If you are new to the gym, or you haven’t been in a while, sometimes you might not feel completely...