What can be done to get more people to be entrepreneurs?
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Originally posted by deathmaster:
nowadays, to set up a simple store selling merchandise. e.g. food, clothes, etc cost around $100k, inclusive of rent, renovation. and depending on your cost of goods, it might cost more if your goods are of high-tech nature e.g. handphones, electronics etc
after paying for housing, how many people have the cash at hand to invest $100k into starting up a business? and not to forget that it take time to build up a business base, so an aspiring entreprenuer should expect 3-6 months of continuous loss before making a profit.
my point here is that now, even if you are willing to face the hardship, it is hard enough even to get the opportunity to be an entreprenuer.
go and ask a foreign worker about the cost of doing business in their homeland.
they just need a few hundred to thousand sing dollar, to get their goods and rent a shop space.
and for M'sian, $50k is enough to buy them a shophouse to do business, and they would save on monthly rental fee.
in S'pore, your 100k is only sufficient to pay off the rental deposit, which would be forfeited if you decided to terminate your business before your rental contract ends.
learn to use OPB n OPM (other ppl Brain n Money)
we have only 5m pop. here and how many r middle class?
rich dun buy from u poor got no money to buy so wat r u left?
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Originally posted by seyKai:
learn to use OPB n OPM (other ppl Brain n Money)
we have only 5m pop. here and how many r middle class?
rich dun buy from u poor got no money to buy so wat r u left?
first of all, how do you get out of OPB or OPM from the govt, they had been using your money and brain all the while... -
Originally posted by angel7030:
first of all, how do you get out of OPB or OPM from the govt, they had been using your money and brain all the while...
sorry, they cannot effort to use me coz i got bo brain.i can only follow them to the lonkang to catch small fishes.
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Singaporeans should support local brand.
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Just know another guy (25 yrs old this year in 2011), who worked for 3 years selling iphones and its accessories in those ah beng shops.... His savings amount to near (just below) $300k within 3 years of work...
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Entrepreneurs look at the opportunities while Bankers look at the risks
even u have see the probabilities and weigh the options, how many would dare to venture their nestegg?
it requires a much different mindset to be an entrepreneur.
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good entrepreneurs are people who can turn rubbish into gold
good bankers are people who can convince others to part with their gold
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Originally posted by Unitedsaints 10:
Singaporeans should support local brand.
u mean NTUC fairprice or sheng siong -
Originally posted by eagle:
Just know another guy (25 yrs old this year in 2011), who worked for 3 years selling iphones and its accessories in those ah beng shops.... His savings amount to near (just below) $300k within 3 years of work...
that is low, can't even buy a flat, a mere working class with bonuses could had saved that amount in his own bank, or even more with added contribution in CPF n medisave from both employee and employer. Moreover, he could be one of the few saving that much, but most working class would had make it without much stress as doing a h/p business, which is a cut throat business with so many around. -
Govt should intro tax free company for the first few years....another thing, are hawkers and shop owners considered as "entrepreneurs"?
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Originally posted by Demon Bane:
Breadtalk and Kopitiam. Successful Singaporean stories!
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Originally posted by Askingyouto:
Wow u are very good in finding news !
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The gahment like to talk only.
Make your people more skillful then talk.
Start by the very root and trunk of the problem. The education system.
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The gahment like to talk only.
Make your people more skillful then talk.
Start by the very root and trunk of the problem. The education system.
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Free office space will be nice....
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Maybe the govt should setup a entrepreneurship fund and award ALL startup companies funding for the first few years?
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Tax free for new companies will also be nice!
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Free company registration?
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More venture capital from govt?
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The reason Sg has so few independent business starters is due to a few things, imho.
1: High level of education. Being educated at uni and polytech makes you a better employee, but not a better out of the box thinker.
Westerners call the results of education focussed cultures "robots".
People in Hong Kong have also noticed the same problem there. There are very few big movers and shakers in HK now who are not old money. Current generation people just want to get into uni and find jobs, not open the companies which become the boss.
2: The Govt, as a result of it's policies, has clamped down on many things which, as a side effect, make initiative and forward thinking limited.
For example, by heavy censorship of the type of music and state controlled television, Singapore has a small entertainment industry. Just compare this to Hong Kong. Just one city, but it's entertainment in music, tv and movies has strong influence all over asia, and reaches out to all the asians in Western countries as well.
Thus no one can truly venture out and express themselves artistically, because there are limited state sponsored tv jobs, and almost no music or movie jobs. This means there are also few authors, etc.
3. One other thing which has been mentioned to me is the fact that the Govt actually steals ideas. I've been told of a couple of examples a few years ago where someone applied to have their company registered to do a certain thing. It was rejected. Soon after, the Govt opens it's own version. I can't confirm this, but......
4. The Govt also has it's fingers in too many pies. Through Temasek, it owns, directly or indirectly, over 50% of the economy. How can you compete with a body which makes the laws, which has hundreds of billions of dollars behind it?
What do you guys think? Did I miss anything?
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I have asked before.... are hawkers and shop owners considered as entrepreneurs?
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Originally posted by OneWithTheForce:
The reason Sg has so few independent business starters is due to a few things, imho.
1: High level of education. Being educated at uni and polytech makes you a better employee, but not a better out of the box thinker.
Westerners call the results of education focussed cultures "robots".
People in Hong Kong have also noticed the same problem there. There are very few big movers and shakers in HK now who are not old money. Current generation people just want to get into uni and find jobs, not open the companies which become the boss.
2: The Govt, as a result of it's policies, has clamped down on many things which, as a side effect, make initiative and forward thinking limited.
For example, by heavy censorship of the type of music and state controlled television, Singapore has a small entertainment industry. Just compare this to Hong Kong. Just one city, but it's entertainment in music, tv and movies has strong influence all over asia, and reaches out to all the asians in Western countries as well.
Thus no one can truly venture out and express themselves artistically, because there are limited state sponsored tv jobs, and almost no music or movie jobs. This means there are also few authors, etc.
3. One other thing which has been mentioned to me is the fact that the Govt actually steals ideas. I've been told of a couple of examples a few years ago where someone applied to have their company registered to do a certain thing. It was rejected. Soon after, the Govt opens it's own version. I can't confirm this, but......
4. The Govt also has it's fingers in too many pies. Through Temasek, it owns, directly or indirectly, over 50% of the economy. How can you compete with a body which makes the laws, which has hundreds of billions of dollars behind it?
What do you guys think? Did I miss anything?
dun think tamashake can survive without the garmen support
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Originally posted by FBFIce:
dun think tamashake can survive without the garmen support
GLC mostly make $$ one....even temp they lose $, will gain back the losses soon...