Critical Turning Points in Entrepreneurship Development
Paradox of success: the past economic success achieved by the MNC-leveraging development model has resulted in high opportunity cost for entrepreneurship among the technically-trained and highly educated population in Singapore
- Entrepreneurship has traditionally been higher among the less well educated, graduates of Chinese schools, mainly in traditional manufacturing and trading businesses
- Knowledge transfer by and subcontracting opportunities with MNCs provided avenues for a newer wave of entrepreneurship by ex-MNC employees
- Economic recession and retrenchments have prompted more MNC employees to become entrepreneurs