Why I think young Singaporeans struggle to be entrepreneurs

This year is the 50th 'Golden Jubilee' Anniversary of Singapore's independence from its short life as part of the Federation of Malaysia. After less than two years, on 9th August 1965, Singapore was on its own.

The power of the national story since then is one of the most compelling and astonishing in world history. For those of us from other countries who now live here, it is a fabulously interesting time to be in Singapore.

A large amount of nostalgia and navel gazing is mixing with a feverish public debate about the next chapters of this dramatic national story.

Many Singaporeans, mostly in online forums, write that a new style of governance is the best way forward. As a business person, I think what might be more needed by such anonymously bold netizens is less demands for what they believe they are entitled to and more entrepreneurialism (more get up and go).

At the same time, I do think it is what the government wants its people to embrace but wonder whether the young Singaporeans especially wish to do so.

There are two reasons I think that Singapore will always struggle to develop local entrepreneurship as another driver of the local economy. These are not the only reasons but they give a sense of the juicy contradiction within the Singapore story.

The first reason I will illustrate by referring to my friend's daily commute on the local (MRT) trains. At one of her stations, every day, there is an announcement.

I encourage you to read this out loud to imagine what she thinks every day when she hears it: "Attention please! For passengers on Platform A who were unable to board the train, please wait for the next train."

Every day she wonders who thinks this announcement is needed. And if it is needed, what sense of self-responsibility is the aim when the spotlessly clean and air-conditioned trains arrive every few minutes.

For anyone to miss a train and then run out of the station and try and find an alternative way to work before the next one arrived, they would have to sprint up the stairs and turn into Superman.

The second reason is more fundamental and harder to overcome. The Singaporean government itself is extremely entrepreneurial. It has been like this for 50 years and for those of us who come to this country to work and to live, we can see how stunningly and constantly entrepreneurial it is even after such obvious success and achievement.

Only a few years ago, I recall the Prime Minister announcing a move into the so-called 'industries of the future' with a plan to build a BioPolis for research into pharmaceuticals and biotechnology. Within a few years it was built.

At the same time, the Sentosa Integrated Resort and the Singapore Wheel and the Gardens by the Bay as was the Marina Bay Sands. The list is endless in government policy initiatives too.

Singapore Airlines remains an amazing example. Back in the 70's every other national carrier was there to carry the flag of their country and lose hundreds of millions of dollars in the process. Not Singapore Airlines. Lee Kuan Yew gave the go-ahead to the airline on the basis that there would no hand-outs and that it was to make money in its first year and every year after or be closed.

And it did (which is more than can be said of its sister airlines Tiger and Scoot...).

If we tie these two things together, what do we see?

In my reading of Singapore's history and of government responses, there has always been a necessity and an urgency to innovate. Such governmental entrepreneurialism has always been needed for jobs, for growth, for security, and so on. It simply had to and has to keep moving the place forward economically and socially.

By comparison, I don't see any stirring reason for Singaporeans to feel the necessity, as if your survival depended on it, to be entrepreneurial.

There is entrepreneurship in Singapore. There are many, many Singaporean entrepreneurs. I have met hundreds and most of them (ironically) complain that younger Singaporeans do not share their entrepreneurial spirit.

There are many foreign entrepreneurs like me here too. There are role models of all nationalities to demonstrate what can be done. But, is it valued?

Is it admired when so much can already be achieved without such risk? Is it admired when working in a safe and secure banking job with all its perks and fancy (meaningless) titles is valued more highly amongst parents and peers?

In a recent article on startups and entrepreneurs I was shocked by the lack of Singaporeans that the paper chose to feature. Half the people who were chosen to tell their success stories were PR's.

Many of Singapore's famous leaders have questioned the size of Singapore's market as a big enough test-market for new products and services. Therefore, they have to test beyond Singapore and this extra requirement brings extra risk which is an impediment.

I have never looked at Singapore as one market; I have always looked at the entire Asia Pac region, from China to Australia, and now in fact the whole world. All by using Singapore as the epicentre of my business.

I wonder if you can't be left to find your own way onto the next train each day, what does this say about whether the government really believes in Singaporeans' ability to become entrepreneurs? What can they do to ensure that Singapore's next 50 years are as dramatically successful as its first 50?

On a more positive note, I wonder if and when the government's example will be enough to stir local hearts and minds to take their own bold initiatives. Let's hope more Singaporeans overcome the struggle and have confidence in themselves and their ideas and take that risk. What do you think?