[July 13, 2009]

Is it easier to run your own business in Singapore? 

What more needs to be done to encourage entrepreneurship here?

As an entrepreneur with over 20 years' experience, I can affirmatively vouch that it is easier to run one's own business anytime today compared to two decades ago, what with the Singapore economy becoming freer and the number of government and privately offered assistance (for example, grants) being made more readily available to aspiring entrepreneurs bearing good business plans. At the same time, "red tape" has been cut substantially and the effectiveness of e-Government has also come into play, whereby registration of new business can be done online within 24 hours (or not more than 48 hours).

Such is the vibrancy of our economic environment which is transmitted from the top leadership and down to its people, who should not be afraid to take that bold step - nor fear failure - and move forward to compete with their Asian counterparts like Hong Kong and Taiwan.