The Importance of Entrepreneurism

Excerpts from ‘iBosses: The Rise of Gen Y Entrepreneurs – The Momentum Behind the New Age of Entrepreneurs’

Entrepreneurs have a significant role in the growth of an economy, specifically in an emerging market such as the Association of Southeast Asian Nations (ASEAN). As a member of ASEAN, Singapore has faced increasing competition from the other developing Asian countries. Still, Singapore has retained its position as one of the top countries for competitiveness and innovation. The Singapore government encourages entrepreneurship at all levels. Even though there was a clear emphasis and desire for entrepreneurial activity, small businesses or entrepreneurial ventures have demonstrated significant failure rates because entrepreneurship was not widely accepted in most orgnizations.


In Singapore, entrepreneurship has presented several challenges for Generation Y entrepreneurs. Although there have been studies that attempted to understand the features and qualities of entrepreneurs, there is a need to identify the factors or themes that are linked with how an individual decides to engage in entrepreneurship activities in the first place (Markman, Balkin, & Baron, 2002).

在新加坡,Y世代创业家在创业时面对多项考验。虽然有研究尝试剖析创业家的个性和特质,但必须首先识别促使个人决定创业的因素或主题 (Markman、Balkin & Baron,2002年)。

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