Singapore is well known for establishing big-name ride-sharing firm Grab and electronic commerce company Lazada as the Asian Financial Hub gives lenient access to global wealth and Southeast Asia’s growing prospect market. With that, Singapore’s demand for economic consistency and business entrepreneurship goes up to its thousands of technology start-ups and young entrepreneurs in the middle of the COVID-19 pandemic.
Family Support
In all decision making, considering the opinion of your parents is the essential matter you can learn from anyone else. Preparing yourself for your dream career needs to be discussed with your parents to make things work. Even venturing into new opportunities and composing your working strategies.
As a part of their society and culture, before retiring for themselves, ensuring the security and future of their children is one of the comforts they can give to guarantee their children to live a wealthy life.
Most of the Singaporean parents seem willing to help their children to create their success and businesses. However, despite this and the well-founded infrastructure with the solidified rule of law, some young entrepreneurs are urged with their family pressures.
Comforting Prospect
The economic imbalance is not a good outgrowth of the COVID-19 pandemic. However, it may help some Singaporeans conquer their challenges and matters where having a less stable career path cannot be problematic.
With these fast-changing business phases, the Singapore government provides financial support for young entrepreneurs and start-ups and offers various assistance.
Government Support
According to Edwin Chow, the assistant chief executive at Enterprise Singapore, the government is currently collaborating with educational institutions and private sectors to create innovative platforms that would motivate young entrepreneurs and start-ups.
Chow also addressed his assistance with Enterprise Singapore’s goal to ensure the ecosystem remains conducive for start-ups for their growth. Singapore’s government openly declared that they had set aside $110 million funds for all first-time and young entrepreneurs to support them in the middle of uncertainties.
According to the Trade and Industry Minister Chan Chun Sing, in a speech announcing the increased grants, in every crisis, there is always an opportunity for everyone to prosper a new generation of companies. Wherein there’s no crisis can take down all the possible options.
Start-ups can now receive their grant up to S$50,000 that would help their business to go further and to start a long runway.
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