Starting young in business

What is the minimum age?

IS THERE a minimum age for going into business?

The legal age to register a business with the Accounting and Corporate Regulatory Authority, or Acra, is 21 years.

Are there financial grants or schemes?

Are there schemes or grants for young people starting a business?

The Entrepreneurship Talent Development Fund (ETDF) is a seed investment to help students of participating polytechnics and universities with sound business plans and innovative products and services get initial funding.

The fund contributes $3 for every $1 put in by the student business venture and a matching $1 from the school.

The maximum grant allocation per student venture is $50,000.

More details are available at website http://www.spring.gov.sg

Where to go for advice and insights

Where can young entrepreneurs get advice on running a company?

Innovators and Entrepreneurs Association (IdEA)

IdEA gives advice on issues such as financing, marketing strategies and product/market development.

It can also connect you to relevant chambers of commerce and government agencies. E-mail IdEA at enquiry@idea.org.sg

Shell LiveWIRE

An international programme for young people seeking to start their own business.

It provides access to resources, advice on starting a business and helps develop the necessary skills to manage a new business.

More details are available at http://www.shell-livewire.org/

NUS Entrepreneurship Centre

This provides mentorship support for start-ups. More details can be found at http://www.nus.edu.sg/nec/outreach/mentoring/mentoring_index.htm

Directors and Advisers for Technopreneurial Enterprises (DATE)

DATE matches technology start-ups and small companies with experienced business people who can provide advice, contacts and strategic insights.

Visit http://www.edb.gov.sg

Answers provided by Spring Singapore.

For more information, please go to www.business.gov.sg