Another article on the development of social enterprises in Singapore! The social enterprise sector in Singapore is upcoming and on its way to a good development. The social enterprise sector currently needs all the help and support that it can garner in order to develop itself. In the recent news article that i read, that is exactly what they have mentioned. It is even titled 'Social enterprises to get more help'. This article mentions much about the initiatives taken to help and guide aspiring social enterprises by offering grants up to $20 000 for them to try and test out their social enterprises. Previously only those who have registered as an official social enterprise can apply for a grant. Now, an ideology and passion to try to do something and make a difference would be enough to obtain a fund to try out social enterprises. Social enterprises start-ups are able to receive up to $100000 in seed grants while social enterprises which have been operating for at least two years can obtain financial help to expand.There is even a Presidents' Challenge Social Enterprise Award which has been postponed by two weeks due to the overwhelming response.
This article definitely makes me feel more at ease in my course as i realize that there is constant and ever-growing support and help available in the social enterprise sector. It is also heartwarming to know that there are more people who are willing to try something out to help people around them. Social enterprises are a really creative and intelligent way of helping people while gaining profits themselves. When i read the article, i saw a familiar name of Ms Desiree Yang. I remembered that she graduated from Ngee Ann Psychology studies in HMS and i truly felt proud because she is doing what she really wants to do. Even though she started out small, and currently only her father and her are working full-time to help the lower income families, i'm sure that she will develop the business furthur through grants and the help from organisations such as raiSE will definitely boost her business, She could change and improve many lives from the work she is doing and it is truly admirable. Grants like this will really be beneficial especially for new and upcoming social enterprises who are struggling financially.
The support and aid given to social enterprises will definitely help and encourage more aspiring young entrepreneurs to push forward with their idea and develop a business themselves. With a growing social enterprise sector, there will be more help for more people all over Singapore or even the world. We can all play a part to change someone else's life and financial troubles should not be a barrier to that. If we have a good and feasible idea with the faith that it will work, then we should work hard to put it into action and achieve what we can. Social enterprises deserve the extra help to help them become more sustainable in the future. We should help in whatever way we can to help the people around us whether directly or indirectly.
In conclusion, i think that this article provides more of an insight on social enterprises in Singapore. Many people are still clueless and unaware as to what social enterprises are. Hopefully, more awareness will be gained among the general public to garner support. It is vital that people know of the problems that social enterprises face of lack of sustainability due to lack of funds. It is better to be transparent before developing the business furthur and learn as much as possible in this time period. It is very important to learn new things and constantly improve yourself as well as your business. Through this journey, opportunities like these are rare and should be utilized in order to maximise the benefits.
Goy, P. (2015, August 1) Social enterprises to get more help. The Straits Times. Retrieved from http://www.straitstimes.com/singapore/social-enterprises-to-get-more-help on 8 August 2015.
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