This article in TODAY, entitled “The Young and Enterprising”, highlighted results from a global survey that revealed an interesting statistic – more than 80 percent of students in Singapore want to start their own business. The Global University Entrepreneurial Spirits Student’s Survey, carried out in 2008 with nearly 64,000 students from 83 institutions in 19 countries, put Singapore third in rankings after Mexico and Africa.
Why is this result surprising? For decades, the Singapore education system has pumped out tens of thousands of compliant graduates best suited for staffing – stuffing – the many multinational companies (MNCs) that the government has convinced to set up shop on our shores. Yet increasingly, our youth are beginning to see that their future may not lie in a steady paycheck – which is also becoming less steady – in other people’s employment, but in their own hands.
I say this is a good thing. Screw productivity. Enterprise and entrepreneurship is the way to go.