From channel 8 drama shorts, CNA documentaries, news reports, advertisements, etc, one can see that the gahment is trying to induce people into starting small businesses on their own and be more open to risk.
Qns: (1) What are the motives behind this? GDP figures again?
(2) Will SG's startup scene even amount to anything? I mean it's sinkieland eh. It's hard to find guys like elon musk here. If we look to China and Japan, most of the companies are rip-offs of European/US counterparts. There is no "original impetus".
i think the biggest benefit is instead of a economy thats over reliant on foreign companies and foreign mncs,we can have a economy thats dominated by local companies and local businesses instead.for example,when we wanted to build two casinos in SG,why does the multi billion dollar construction have to be tendered out to foreign companies?we have no idea how to build a gambling and entertainment complex?why does the casinos have to be run by sheldon adelson,a american MNC?he gets the lion share of the profit while we only get a tiny slice?why are we giving the golden egg away simply because we think we do not know how to run a casino?which may be true considering the state of some of our national businesses.america has over 500 casinos,some of them are small establishment tucked away in some small town...if singapore had the entrepreneurial blood in them like america did since the early 19th century,some sinkie businessman would have started out with a small gaming parlour with a couple of slot machines,learnt the ropes from the ground up,before expanding aggresively one establishment to another,one casino after another each one bigger and more grandiose than ever before until its something u see out of a ocean's eleven movie....thats how steve wynn got started,every behemoth u see today once came from small humble beginnings.
gdp figures is all bullshit,we have the highest gdp per capital in the world but in reality what percentage of that wealth actually goes into our citizens pockets as disposable and spendable income?less than 1/3rd of our gdp maybe.ultimately our country's low corporate taxes and no minimum wage laws and weak unions and liberal immigration policies only goes to the bottomline of these foreign corporations and mncs and fatten their profits,while turning sinkies into wage slaves and the working poor.
ultimately singapore's economy is a waste of time,like the founder of Razer said,the local market is too small to make any sort of roi or return from R&D or entrepreneurship to be worthwhile,its better to focus elsewhere on foreign markets.......not to mention whats with the economic factors like expensive rents,high manpower costs,expensive coes and transport costs etc etc,being the most expensive city in the world isnt helping Singapore's cause either.not a very conducive environment for entrepreneurs.