Total Entrepreneurial Activity
for 2004 = 5.7%
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here for more about TEA
World Average TEA 9.6
Asian Average TEA 3.4
Entrepreneurship
in Singapore
Almost a decade ago, the government of Singapore began
to promote entrepreneurship. However, the unsupportive
culture and a traditional education system discouraged
the development of entrepreneurship in Singapore. According
to the Global Entrepreneurship Monitor, Singapore is one
of the least entrepreneurial societies in the developed
world.
In Singapore, people seem to recognize the need for entrepreneurship.
They see opportunities in the world economy for new ventures,
and much discussion going on to encourage Singaporean
entrepreneurs to jump into the growing world market. There
is no shortage of effort to foster entrepreneurship there.
There are many resources available to aspiring entrepreneurs:
many Universities and Government bodies have set up institutes
to nurture entrepreneurship. The National University of
Singapore has established an Entrepreneurship Centre,
and the Ministry of Trade and Industry has the Economic
Development Board.
There have been many events such as workshops and networking
cocktails to foster the movement. Also, many awards programs,
from government-sponsored to private, encourage aspiring
entrepreneurs to compete and succeed.
One of the predominant thrusts is one which looks to import
the knowledge that contributed to the US entrepreneurial
strength, and emulate that success. Many people are looking
to apply some key US entrepreneurial formulas to Singapore
ventures.
It appears that the environment is Singapore is ripe for
entrepreneurship. One would think that more ventures would
be coming out of Singapore, given such a positive climate.
However, there seems to be frustration among many entrepreneurs
and would-be entrepreneurs, expressed in blogs and some
online communities. They seem to be frustrated by roadblocks
resulting from some confusing government regulations.
Best
Bets
GEM
2004 Singapore Report
National
University of Singapore Entrepreneurship Centre
Ministry of Trade and Industry
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on the folder to see the contents.
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Entrepreneurship
