the lazy streets so undemanding...

Wednesday, March 16, 2005

Singapore business

Heute Morgen habe ich Zeitung gelesen und ich finde die "Singapursjahreszeit in London" sehr interessant...

Oops, that was just a bit of hangover from the german oral test this morning... but the news is for real. Let me start again. I was reading the Business Time this morning, and I noticed that there is an event called the "Singapore Season in London". It's like a grand exhibition to showcase the culture, the art, the economy and the life in general of singapore. I am quite used to something similar such as US carnival or UK funfair to be held here in singapore, but it's the first time I have heard about Singapore exporting her own cultural and business activities to the western countries. A big step in cultural integration and globalisation and well, congratulations.

Triggered by the news, and in the light of all the local entrepreneurship stuff I am into, I want to briefly inquire into the prospective entrepreneurship scene in singapore. Without doubt, it is getting harder to start a business here in "this little red dot". And because of the fact that singapore is a little red dot, and plus all the geographical constraints which the phrase represents, more and more businessmen and women are pulling up stakes here and moving to elsewhere, such as China. (well, I typed that last word with a grin on my face ^^) Despite the government's effort of cutting cost and promoting creative technology, many think that Singapore seems to be losing that edge in the competition.

However, I beg to differ. (aber ich glaube nicht... haha, is that right? My german is no good) I see a much brighter future for entrepreneurs starting business here, in the next decade at least. My philosophy is that we must see beyond the physical challenges that are holding singapore back, and into the mental-physical synthesis of this matter that might propel the economy up to the level it used to be. The existing limitations for economic development galvalnize the government of singapore more than anything, and apparently they are seeking every solution to find the niche back. And with that I hope you can sense where I am heading towards -- the environment for growing business is positive and that will be ensured as long as you stay within the law. In fact, Forbes has ranked Singapore as the second best place to start a business in the world. If you need funding or advices, resources are relatively accessible in places like Economic Development Board (EDB), which offers a bunch of goodies with nice acronyms like "SEEDS", Start-up EnterprisE Development Scheme, and "DATE", Director and Advisor for Technopreneurial Enterprise.

Apart from the help from government, there are other business organizations out there to take care of potential entrepreneurs. Just a few days ago in the news, Singapore Chinese Chamber of Commerce and Industry (SCCCI), (yes, that used to be our sponsor, my fellow scholars^^), has decided to provide "matchmaking services" for its members, among them 80% are Small and Medium Enterprises (SME). Good news? I think so.

Moreover, what created the "Singapore miracle" in the 80 and 90's still stays relevant today in taking singapore to a new level of competence. Singapore used to be refered to as a gateway to the south east asia in the past, and that is still pretty much the situation now, with an even more dynamic meaning perhaps. Cirque du Soleil, a Montreal-based circus troupe, has been holding sold-out performances here in singapore bi-annually since 1999, and they consider Singapore as a springboard to extend their business to Kuala Lumpur, Bangkok and probably Jakarta.

I would like to quote Senior Minister Goh Chok Tong's description on the Asian economy as a "mega-jumbo-jet" to illustrate my last point. He said for this jet, the Northeast Asian Trio of China, South Korea and Japan forms a wing with a powerful engine, and the rising Indian economy forms the other. Though Singapore, together with the other nine south east asian countries in the middle, is not the driving force of the jet, it can still help to lift and be lifted by the wings. We see hong kong growing as it extends its business line into the mainland of China, but in such a globalized world, who is to say that Singapore doesn't have a chance to tap on the resources from there (China and India) and benefit from a even bigger region of Asia? The Hong Kong-listed petrolchemical group, Titan, is considering building a on-shore oil storage right here in singapore; Singapore's Starhub formed alliance with China Mobile a few years ago and now with NTT Docomo of Japan; National University of Singapore set up oversea college in Shanghai in 2003... the list goes on, and that is just what I can think of.

In a nutshell, I see great opportunities in the Singapore business, and it's definitely worth a pursuit if you've got what it takes.

GXL got high at 8:59 AM

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