“The world is your oyster”: MOS Teo Ser Luck

Start-ups are an important part of our economy, as they form the pipeline for great companies to emerge. According to research by the Kauffman Foundation, start-ups also contribute significantly to job growth in the US economy. However, a conducive business environment does not necessarily give rise to a vibrant start-up community or good start-ups. To build a vibrant start-up community, we need entrepreneurs who are ambitious, innovative, and able to provide good solutions to the market.

To all you entrepreneurs and start-ups here, I applaud your passion and courage to strike out on your own. Having had experience starting a business, I know the uncertainties you face. As you advance in your career as an entrepreneur, I encourage you to dream big and think global, and not be constrained by our small domestic market. The world is your oyster. Having global ambitions will help you to seize opportunities out there. Great success awaits those who dare to dream big.

Of course, dreaming big also comes with big obstacles and uncertainties. As entrepreneurs, you should relish such challenges and see these road blocks as opportunities. Entrepreneurs who find an innovative solution around a problem through innovation and adapting to the situation can only grow stronger and more prepared for larger storms ahead.

You will see that the economic conditions are getting more dynamic with more frequent cycles and larger fluctuations. As entrepreneurs, you control your destiny. You should never be a victim of our environment and times. In fact, savvy business owners should leverage on uncertainties and downturns to grow as costs are generally lower. Many of the global companies such as Microsoft and Hewlett-Packard were started during recessions. Nearer home, gothere.sg, a popular direction and navigation portal was started in the 2008 recession. Entrepreneurs need to seize such opportunities to create their own space and make a difference.