July 26, 2021

4 thoughts on “Will I Become An Entrepreneur Or Encourages My Children To Be One in Singapore? (Part 2)

  1. my observations:
    1) The property hype is also pushing people to be risk averse. if you got 1.5m condo mortgage that you buy to stay for your family (not rented out), how risk seeking can you be? But yet people still keep chasing the property dream.
    2) The SG market is not big. If you launch in china or the US, thats your target client. If you launch here, you pitch SEA markets, but Indonesia is different from Thailand, Malaysia etc. And if it gets too profitable, people there are going to eat your lunch.
    3) For me, I think tech is one way to entrepreneurship, with low costs at the beginning at least. The flappy bird game which was abit dumb was created by a Vietnamese and sold for 1 mil. I think we need to be creative on what is entrepreneurship, it is no longer about renting a shop/office or hiring a pool of staff. It can just start with you and your home computer and you build from there.

    1. Hi gsk, tks for your observations,

      1) agree that this kind of mortgage is not feasible n next gen will suffer, like HK. In fact I have known higher mortgages. But we are in an environment that just too many made lots of $$$ in property. Imagine interest one day to go up to like in the past of 4-5%! Not sure what will happen?

      2) SEA market is very difficult and local culture in biz is going to difficult for newcomers Sg biz men! Even Thailand and Msia are not as easy like before, as their economy stagnate. Comparatively more potential will be Vietnam, (a countryI have biz experience for last 15 yrs), although culture of doing biz there is so different that it may overwhelm a lot of local player rendering the first few yrs loss making or even gg bust!

      3) Tech is the only solution. and it’s not so much about making $ as biz bcos how many initial start up tech firms are profitable in Sg? but more like selling the concept attracting funds?

      Frankly, I see more India/Msia/foreign nationals as technopreneur than locals here bcos of their foundation in IT. Local university grads still lack behind… except for a few like carousell and Grab, Ninja Van, Redmart which of course have similar concepts to many other companies , Amazon-Alibaba, Uber etc. So is creativity important or if luck, right time and right place and right connection also play even bigger roles???

      So far not many successful tech firms except those once in a while reported in Newspaper, but u also dunno if they can sustain later! Like I told u, my friend who was one of the top students in SG in IT, started a tech co and received region and local awards, appear on papers and Govt cheering him on with seed funding…

      5-6 yrs later it is not sustainable and he return as employee!

  2. Hi,

    I believe that this is up to one's desire and determination to be an entrepreneur. The next generation will charter his/her path accordingly.

    Nothing is right or wrong. It is entirely up to one who decide whether venturing out makes senses and how much it means to one. Only one knows himself or herself better.


    1. Hi WTK, agrees it is up to one's desire to be an entrepreneur. But here, we are talking not just to be an entrepreneur which everyone can. We are talking about successful and sustainable one, and possibly one that can penetrate out of SG, and hence the environment and market we are in plays a very important part aside from desire.

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