The State of Entrepreneurship in Singapore

Occasionally I hear someone mention in passing that there just aren’t enough entrepreneurs in Singapore. That there aren’t enough people striking it out on their own and that the majority of people are looking for a highly-paid salaried job.

I’m really not so sure that’s true, especially if we look beyond our usual circles and stereotypes when we think of “entrepreneur”. Every food hawker, market stall owner, pasar malam (night bazaar) vendor and independent boutique owner in Singapore is an entrepreneur. Many hairstylists, fashion designers and retail shop owners are entrepreneurs. And then there are the wholesalers, delivery company owners and pre-school proprietors. It’s quite possible that we may have a more of such independent businesses than other countries where large and established brands (think Walmart, Target and Tesco’s) have dominated the competitive landscape.

So perhaps when we’re thinking about entrepreneurship, there’s a lot we can learn from the entrepreneurs around us, outside of the technology industry.

Talk to us: What do you think about the state of entrepreneurship in Singapore?

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4 responses to “The State of Entrepreneurship in Singapore

  1. “especially if we look beyond our usual circles and stereotypes when we think of “entrepreneur”. Every food hawker, market stall owner, pasar malam (night bazaar) vendor and independent boutique owner in Singapore is an entrepreneur.”

    I agree with you that it is important to look beyond a certain industry or sector.

    In terms of “State-of-Entrepreneurship”, I have always wondered what are the key performance indicators.

    Is it by sheer numbers of new startups regardless of industries? Their life-span? Earnings or contribution to our economy?

  2. Surprisingly enough… I agree!

  3. Looks like I was born with the entrepreneur in me! My parents have been an entrepreneur since the day I was born! But they call themselves business owners who own a hawker stall.

    IMO, these words – entrepreneur, start-up, (instead of business owners) social media, new media (instead of media), blogger etc (instead of writers) are trends that people creates and hypes up for.

  4. Yeah agreed. I think entrepreurship can happen within an organization too when workers think out of the box to add/create value.

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