| Summary: | With entrepreneurship being the new impetus for economic growth in Singapore, the team saw it
fit to make an academic contribution by providing greater insight in this field. Personal
aspirations to become successful entrepreneurs in the future have also provided additional motivation for the undertaking of this research.
The team was interested in the Singapore entrepreneurs' approach to running their businesses. In
particular, the main focus was placed in identifying their skills, attitudes towards aspects of
business management as well as their entrepreneurial behaviour.
Information was obtained from thirty-nine returned questionnaires sent to members of the
Association of Small and Medium Enterprises. Interviews with five local entrepreneurs provided
additional insights to the study.
In the area of skills, Singapore entrepreneurs were found to be competent in conceptual and
interpersonal skills. They possess entrepreneurial, industrial experience and are better educated
than the general population. There is willingness to take risk most of the time. Competition,
product marketability and personal interests form the main concerns of business strategy.
Sophisticated planning is undertaken by majority of the entrepreneurs. They are also generally committed to their business. They adopt an open management style and are employee-oriented.
However, they are found to be possessive about their business.
With the above findings, the team hopes that it will be used constructively as a basis for future
research, in order that an even greater understanding of the entrepreneurship field may be
achieved.
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