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Home-grown entrepreneurs need encouragement
I AM not sure former Economic Development Board chairman, Mr Chan Chin Bock, in his letter yesterday, “Be realistic on home-grown entrepreneurs”, is looking at home-grown entrepreneurship as a broad-based issue.
One belief is that, in economic terms, the returns on resources extended to building up home-grown entrepreneurship are far less than that extended to encouraging established world industries to bring their enterprise to our country. In the shorter term, we cannot fault this assumption.
Industries come because we can offer lower cost operation due to many reasons, such as tax incentives, skilled workers and managers, excellent infrastructure, clean and safe environment, and a place where everything works. They can also leave quickly when a more competitive government can offer better incentives.
A more serious problem arises, however, when our creative entrepreneurs lack the motivation to venture out on their own.
Mr Chan mentioned that even established home-grown industries in the United States, such as General Motors and General Electric, will not hesitate to lay off workers, shrink their operations and relocate to another country.
This may not be destructive to the US economy. In fact, it may encourage the country to innovate further with whatever resources that remain, such as harnessing state of the art research, which eventually generates higher returns.
If we look at the issue from this point of view, we must move quickly to build up our own industries.
Yes, as a global economy, we must attract the best, and that means locals will have to compete to be part of it. Realistically, we can do this only if we are given additional incentives. Otherwise, I fear that we may remain a nation efficient in providing skilled workers and managerial services – in short, an established offshore service centre.
Daniel Gwee
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It was the most heartening announcement I have heard
in years. I used to cry over this issue for my friends and I have submitted many articles on why they are not getting their jobs – young Singaporeans have been to the best schools in the Spore education system and they have served their country in the Armed forces with distinction.We don’t want to end up like our best friends in UK who were shocked with the flood of immigrants from South Asia.
Thank you Minister Tan Chuan Jin for your announcement this morning on the control of immigration including Indians. What a Blessing for us indeed. I would be writing more articles on how we can lessen the fear of those who are dependent on foreign labour especially the workers. There were a lot of myths which led our Spore employers to seek foreign workers from the LABOUR MILLS set up all over Little India and Chinatown in Singapore.
Thank you because you are going to have our support indeed.
Daniel Gwee Choon Seng
Iwould like to correspond with stonlineforum daniel gwee
only.
Kindly confirm all my mail will go to you only and must be protected from possible hijackers
Regards
Daniel Gwee
Thank you. My first short article will be shortly on the way to you.
Address: http://stonlineforum danielgwee
DanieL Gwee
Ok sure thanks Daniel.
You can also email me at gilbert@transitioning.org.
Take care.
Gilbert