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Anonymous

18 Apr 2019

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How to be an entrepreneur in Singapore with no money?

Hi, I have a business idea but I have no connection to the right people and money. I am confident to give it a shot. I believe that my Poly diploma and business idea is enough to sustain me. I want to execute this idea after my NS but I have no idea how to start. Please advice.

Discussion (9)

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HC Tang

16 Sep 2018

Financial Enthusiast, Budgeting at The Society

hi

No worries. In SG, we have the best community and support by government for startup.

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No $, no problem. Suggest after NS, work and save some $ too because it's always needed to put in some own $.

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Few pathway i would suggest:

  1. Go back to your poly, find out from the info side any incubator for startup, they will link you up to mentor, angel investor (or sometimes is even your poly itself) and the people who are also interested to start a biz.

  2. Most important steps: Networking.

You need to network to:

(a) Find co-founders (because if you're biz but not tech, it won't work. If you're tech but you also can't cope with just biz because you'll have no time to do all well. So you need co-founder.

(b) Test your ideas and learn how to pitch: Network allows you to learn how to talk / pitch to strangers, the most basic and important steps of any startup founders. It also allows you to talk to stranger about your ideas, bounds idea around as they might brinig a different perspective to you so that you can further develop and further mature your ideas. Otherwise it will just stay in your brain as an imaginary ideas. Don't worry about people stealling your ideas, its' all about the executions. They can steal but may not have the persistency to continue and bring the idea to real fruitations.

(C) Find fundings / investor: Network allows you find the right support that will leads you to the suitable Angel investor for a start and subsequenty also the mentorship on running the startup since nobody was born to know how to run a startup but also same as everyone else, learn on the job.

You can join : http://www.ntuc.org.sg/ustartup/

They provides linking to the right people, networking and you can expand from there and find out more.

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Young NTUC also may have some good opportunities of similar mindset looking to start a biz /ideas:

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https://www.youngntuc.org.sg/wps/portal/ydu2/ho...!!/dl5/d5/L2dJQSEvUUt3QS80SmlFL1o2X1BMT0lFRkgyMDhURUEwSUxGMDRFMTNQRDI2/

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Happy Starting up!

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Spring Singapore has alot of funding programmes for startups, I heard they are quite easy to get, check them out!

Jason Sing

16 Sep 2018

School Of Hard Knocks And Life at School Of Hard Knocks And Life

Find a mentor who knows the way and is willing to guide you. That will save you a lot of headaches and heartaches.

Nicholes Wong

16 Sep 2018

Diploma in Business Management at Nanyang Polytechnic

No money then find part time and save up. Im planning to save $15,000 for NS

You can check the link

https://blog.seedly.sg/national-service-ns-how-...

Even if i dun get into ocs or scs, i will try to do guard duty around once a month for $100 each time which can earn me $2400. Then also be frugal with my spending during ns since food is paid, transport not going to be often. Going out during book out wont be very often as well because NS also tiring. If you aim for officer and do guard duty every week, you can reduce your spending and save a lot. Or you can even do part time tutoring but do remember you are not supposed to work during 2 years in NS so dont get caught.

Jay Liu

16 Sep 2018

Accounting and Finance at ACCA

Since you said you want to execute this idea after idea, save up a lot during ns. Heck it and work t...

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