If you’re young and interested in entrepreneurship, here’s good news for you:
The latest Civil Law (Amendment) Bill has just revised the age at which you can start and run a business from 21 to 18. So while you won’t be allowed into some drinking establishments in Singapore, you still can be a tycoon and buy and run them.
National enterprise development agency SPRING Singapore has also recently launched two new entrepreneurship schemes for young, budding entrepreneurs: the Young Entrepreneurs Scheme for Schools (YES! Schools) and the Young Entrepreneurship Scheme for Startups (YES! Startups). With YES! Schools, educational institutions will be able to tap funds to build a student entrepreneurship program so go ahead and bug your deans and professors to start if your school doesn’t already have a program in place. YES! Startups matches S$4 for every S$1 you raise for your first startup through self-funding, schools or any other third-party sources, up to a maximum of S$50,000.
If you’re still in school and want to start a business, check these schemes out.