Almost everyone is singing paeans about Singapore being a paradise for entrepreneurs and even the World Bank is rating the small island as the best place to start a business. In fact, once an entrepreneur has decided to set up a venture, it takes just 3 days for all the formalities to be completed and get the business going. TheSingapore company registration process is a single window clearance process and one of the fastest in the world.
Why then isn’t entrepreneurism gaining traction amongst young Singaporeans? It is surprising that only 1 in 8 young Singaporeans imagine that they would set up their own business in the country