Youth EnterprisesYouth EnterprisesAre The Key to Building Are The Key to Building

a Better Worlda Better World

Investing in Youth Entrepreneurship & EnterpriseInvesting in Youth Entrepreneurship & EnterpriseWhy and How?Why and How?

If I said the CountryIf I said the CountryAustraliaAustralia

What would be theWhat would be theFirst Picture in Your Head?First Picture in Your Head?

Now if I asked you to Think of SydneyNow if I asked you to Think of Sydney

What would that be the First Picture in Your Mind?What would that be the First Picture in Your Mind?

Physically bothPhysically both

SydneySydney and Australia areand Australia are

in the Same Geographyin the Same Geography

But in your Mind they areBut in your Mind they are

in Two Different Places!in Two Different Places!

The Point I am making is thatThe Point I am making is that

there is a Far Greater Connect there is a Far Greater Connect

between Cities than Countriesbetween Cities than Countries

And the Youth are Talking!And the Youth are Talking!

London – Paris – New YorkLondon – Paris – New York

Seoul – Beijing – TokyoSeoul – Beijing – Tokyo

Port Vila – Honiara -- SuvaPort Vila – Honiara -- Suva

There is far more Connectivity Between There is far more Connectivity Between the Youth than is Realizedthe Youth than is Realized

– World Citizens are busy. They want things easy to World Citizens are busy. They want things easy to buy and understandbuy and understand

– Increasingly people want convenience and speed of operationIncreasingly people want convenience and speed of operation– Citizens are looking for healthy foods and products Citizens are looking for healthy foods and products

to reduce ageing to reduce ageing– People today are somewhat more aware of environmental issuesPeople today are somewhat more aware of environmental issues– People do extensive research and sometimes know more about the People do extensive research and sometimes know more about the

products than their retailerproducts than their retailer– This time around people are spending less since the This time around people are spending less since the

global financial crises global financial crises

The New Generation The New Generation is about Being Right Here and Right Nowis about Being Right Here and Right Now

Global TreGlobal Trends are Impacting nds are Impacting NeedNeeds and Wantss and Wants

Dictating what and where will be bought:Dictating what and where will be bought:– RFIDs continue to increase in retail applicationRFIDs continue to increase in retail application

– Customer Centricity reemphasizes ‘made for me products’ Customer Centricity reemphasizes ‘made for me products’ but also increasing merging of sectors (books + cafe)but also increasing merging of sectors (books + cafe)

– World population will be increasingly represented World population will be increasingly represented by ageing Baby Boomers and Generation Y by ageing Baby Boomers and Generation Y

(for this discussion I will limit to Singapore Statistics)(for this discussion I will limit to Singapore Statistics)

Singapore Population is AgeingSingapore Population is Ageing

Resident Population Resident Population Continues to GrowContinues to Grow

Old Age Support Ratio Old Age Support Ratio is Reducingis Reducing

Life Expectancy at BirthLife Expectancy at Birthis Increasingis Increasing

LFPR Will Continue to RiseLFPR Will Continue to Rise(lLabour Force Participation Rate)(lLabour Force Participation Rate)

Age PyramidAge Pyramid Labor Force Participation RateLabor Force Participation Rate

http://www.singstat.gov.sg/stats/visualiser/population/population.html

Singapore just like Most CitiesSingapore just like Most Cities

Timing is Ripe for Focus on Timing is Ripe for Focus on Youth BusinessesYouth Businesses

Pre-financial crises corporations were all about:Pre-financial crises corporations were all about:

– Consolidating for bigger market sharesConsolidating for bigger market shares

– Commanding bigger geographic footprintsCommanding bigger geographic footprints

– They were mostly concerted on diversification:They were mostly concerted on diversification:

– Short-term gainsShort-term gains

TheThe SinSingapore Statistics Favored Youth Start-upsgapore Statistics Favored Youth Start-ups

• GDP up 10.6% in 3Q 2010 GDP up 10.6% in 3Q 2010

• CPI up 3.5% in Oct 2010 CPI up 3.5% in Oct 2010

• Total Trade up 15.0% in Oct 2010 Total Trade up 15.0% in Oct 2010

• Index of Industrial Production up 31.0% in Oct 2010 Index of Industrial Production up 31.0% in Oct 2010

• Retail Sales up 0.3% in Sep 2010 Retail Sales up 0.3% in Sep 2010

• Total Population was 5.08 million in Jun 2010 Total Population was 5.08 million in Jun 2010

• Employment was 3.08 million in Sep 2010 Employment was 3.08 million in Sep 2010

• Unemployment Rate (SA) was 2.1% in Sep 2010Unemployment Rate (SA) was 2.1% in Sep 2010

Timing Is Ripe for Focus onTiming Is Ripe for Focus onYouth Business’Youth Business’

Post-crises it is now about:Post-crises it is now about:

– Having braved the worstHaving braved the worst

– Appreciation for more accountability and less complicationAppreciation for more accountability and less complication

– Having less time now consumers never want to be treated in Having less time now consumers never want to be treated in the same waythe same way

– Public consensus is in search of a fair deal and sustainabilityPublic consensus is in search of a fair deal and sustainability

– Public questions corporate social missionsPublic questions corporate social missions

Investment in Investment in Youth Businesses'Youth Businesses'

The Recent World-Wide Economic CrisesThe Recent World-Wide Economic Crises

has Helped Consolidated Consumerhas Helped Consolidated Consumer

and Business Conventionand Business Convention

Paving the Way forPaving the Way for

A New Wave of Business EnterpriseA New Wave of Business Enterprise

““Keep the Money Local” Keep the Money Local” AttitudeAttitude

The Fundamental Attitudinal ChangeThe Fundamental Attitudinal Change

We Need to AchieveWe Need to Achieve

mindset

mind-set

mentality

outlook

““Keep the Money Local” AttituKeep the Money Local” Attitudede

If we imagine the any economy to be a bucket with If we imagine the any economy to be a bucket with money pouring in from various sectors money pouring in from various sectors

Then it makes good sense for us:Then it makes good sense for us:

– To make sure that we minimize leaks outside our economyTo make sure that we minimize leaks outside our economy– To ensure that within this economy the money changes hands To ensure that within this economy the money changes hands

as many times as possibleas many times as possible

Encouraging local expenditure provides jobs Encouraging local expenditure provides jobs and income for Singaporeand income for Singapore

Ensuring a secure longer term future for local economiesEnsuring a secure longer term future for local economies

Benefits of DevelopingBenefits of DevelopingYouth BusinessYouth Business

• Building local economyBuilding local economy

• Ensuring local jobsEnsuring local jobs

• Protecting home-grown character and prosperityProtecting home-grown character and prosperity

• Saving time, money and local environmentSaving time, money and local environment

• Ensuring local product diversityEnsuring local product diversity

• Protecting local servicesProtecting local services

Youth Business is Youth Business is a Country Investmenta Country Investment

The Organizational DifferenceThe Organizational Differencethe Youth Business Programs the Youth Business Programs

Must PreserveMust Preserve

Youth BusinessYouth Business

Regular BusinessRegular Business

In youth business the kids grow up andIn youth business the kids grow up andleave but the fundamentals prevail. leave but the fundamentals prevail.

In all cases the structure must support In all cases the structure must support the original the original goals and valuesgoals and values

Youth Business Strategy Youth Business Strategy Requires SupportRequires Support

If Youth Business is If Youth Business is to be Successfulto be Successful

Governments & NGO’s RoleGovernments & NGO’s RoleNeed to promote and develop Youth Need to promote and develop Youth

Business as sustainable enterprises that Business as sustainable enterprises that address Social and Economic needs address Social and Economic needs

through the principle of self and mutual help through the principle of self and mutual help so as to foster a more resilient societyso as to foster a more resilient society

Strategic IntentStrategic IntentElevate & Establish Youth Business by Elevate & Establish Youth Business by

dominating society mindshare dominating society mindshare and perceptionsand perceptions

The Sequence of Shifts the Movement The Sequence of Shifts the Movement and Program must Evolveand Program must Evolve

Youth BusinessYouth Businessa Jump Starta Jump Start

Youth BusinessYouth Businessas a Tangible as a Tangible Business ResourceBusiness ResourceIn each CityIn each City

Youth BusinessYouth BusinessOperating on aOperating on aConnectiveConnectiveNetwork Network City-CityCity-City

The Audiences The Audiences the Program Must Impactthe Program Must Impact

4 Young Entrepreneurs 4 Young Entrepreneurs 1 Dream 1 Dream

2.5 Million Singapore Dollars2.5 Million Singapore Dollars

Spring SingaporeSpring Singapore

• Financing Schemes Financing Schemes – Business Angel Funds (BAF)Business Angel Funds (BAF)– SPRING Startup Enterprise Development Scheme (SPRING SEEDS) SPRING Startup Enterprise Development Scheme (SPRING SEEDS) – Technology Enterprise Commercialisation Scheme (TECS) Technology Enterprise Commercialisation Scheme (TECS) – Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)

http://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspxhttp://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspx

174 Start-Ups 174 Start-Ups Receive Seed Funding HelpReceive Seed Funding Help

THE Government last year THE Government last year committed over $10 million committed over $10 million to help invest in more to help invest in more than 20 start-ups under Spring Singapore's Start-up Enterprise Development than 20 start-ups under Spring Singapore's Start-up Enterprise Development Scheme (Seeds).Scheme (Seeds).

That brings to That brings to 174 the total number 174 the total number of firms that have received funding support of firms that have received funding support through Seeds since it was introduced in 2001.through Seeds since it was introduced in 2001.

So far, more than half of the So far, more than half of the $110 million set aside for Seeds $110 million set aside for Seeds has been allocated has been allocated to local start-ups, as part of efforts to groom globally competitive companies to local start-ups, as part of efforts to groom globally competitive companies by providing vital early funding.by providing vital early funding.

According to enterprise development agency Spring Singapore, 20 Seeds start-ups According to enterprise development agency Spring Singapore, 20 Seeds start-ups have since been able to generate over $1 million a year in revenue.have since been able to generate over $1 million a year in revenue.

Thank You fprThank You fprYour Kind AttentionYour Kind Attention

I Will Do My Best toI Will Do My Best toAnswer Your QuestionsAnswer Your Questions

mauricewilliams.esq@gmail.commauricewilliams.esq@gmail.com