Entrepreneurial Spirit Among Tertiary Students In Singapore

Much has been reported in the press [The Straits Times, "Emphasis On Examination Results May Curb Entrepreneurship, ENDEC Survey Report", 16 July 1993] about the lack of entrepreneurial spirit among young Singaporeans today. There appears to be a shortage of industrial, export-oriented and outward-looking entrepreneurs. It is noted that Singapore tertiary students are generally not interested or are not willing to be self-employed or to start their own business. Many prefer to be wage-earners in the public and private sectors. This is particularly true for university graduates who can command relatively high earnings and job security. Therefore they would prefer not to start out on their own which may entail higher risks. This study seeks to explore whether entrepreneurial spirit exists among Singapore tertiary students or there is really a dearth of budding entrepreneurs among the tertiary students. The objective therefore is to verify the extent of truth in the press reports. A prior study (Poon et al, 1993) was carried out but it was only limited to the students of the School of Accountancy and Business (SAB). The underlying motivation behind this present research is to assess the risk-seeking aptitude and innovative nature (creativity) prevalent among the tertiary students who represent the bulk of the young population and future leaders of Singapore. With the findings so gathered, suggestions and recommendations can then be put forward as to how to nurture or enhance the entrepreneurial spirit that is so vital to Singapore, at present and in the future.