Young Bosses
Young Bosses
It's tough having your own business, but that's not stopping the young from becoming entrepreneurs these days
By Shaan Seth
THERE'S a growing breed of young entrepreneurs and they are taking the lifestyle industry by storm.
From spa cafes to bars and restaurants to clubs, 20-somethings are taking the plunge and investing their time, money and hard work into small businesses.
For some, their passion for their field made the choice an obvious one.
'I've always been interested in food. I've been cooking since I was 12 years old,' says Ms Ying Ong, 23, director of Novus Restaurant & Bar in the National Museum of Singapore.
Others such as Ms Yenn Wong, 28, owner of Graze restaurant in Rochester Park, Muse Bar in the National Museum of Singapore and boutique hotel JIA in Hong Kong, recognised great business opportunities and capitalised on them.
'Singapore's looking very promising. With the announcement of the integrated resorts and the market picking up, people are more willing to spend,' she says.
Starting out as a young entrepreneur was challenge enough for many of them.
'It's almost impossible getting a loan from banks because they considered me a risky investment. And because I didn't want any partners, I turned to my family for personal loans,' says Ms Norhida Mohammed, 28, owner of fashion store 20 bulbs in Mandarin Gallery.
Mr Richard Lim, 30, managing director of The Arena, a club along Clarke Quay which showcases live music, pumped in hundreds of thousands of dollars in savings to open the club and relied on family and friends for the rest.
It certainly hasn't been a walk in the park for these young entrepreneurs.
'I've scrubbed floors in New York and worked for free in restaurants,' says Ms Janice Wong, 24, owner of 2am:dessertbar in Holland Village which opens in three weeks. 'I had to do it the hard way because there's no short cut to gaining experience.'
She adds: 'You don't get taken seriously a lot of the time. Often, I was given ridiculous quotes and had to do a lot of extra legwork because the people I was working with thought they could overcharge me.'
These difficulties are not standing in their way, though.
'Age cannot stop you if you are determined enough,' says The Arena's Mr Lim. 'If you really want to get something done and you work hard at it, it will happen.'
It's tough having your own business, but that's not stopping the young from becoming entrepreneurs these days
By Shaan Seth
THERE'S a growing breed of young entrepreneurs and they are taking the lifestyle industry by storm.
From spa cafes to bars and restaurants to clubs, 20-somethings are taking the plunge and investing their time, money and hard work into small businesses.
For some, their passion for their field made the choice an obvious one.
'I've always been interested in food. I've been cooking since I was 12 years old,' says Ms Ying Ong, 23, director of Novus Restaurant & Bar in the National Museum of Singapore.
Others such as Ms Yenn Wong, 28, owner of Graze restaurant in Rochester Park, Muse Bar in the National Museum of Singapore and boutique hotel JIA in Hong Kong, recognised great business opportunities and capitalised on them.
'Singapore's looking very promising. With the announcement of the integrated resorts and the market picking up, people are more willing to spend,' she says.
Starting out as a young entrepreneur was challenge enough for many of them.
'It's almost impossible getting a loan from banks because they considered me a risky investment. And because I didn't want any partners, I turned to my family for personal loans,' says Ms Norhida Mohammed, 28, owner of fashion store 20 bulbs in Mandarin Gallery.
Mr Richard Lim, 30, managing director of The Arena, a club along Clarke Quay which showcases live music, pumped in hundreds of thousands of dollars in savings to open the club and relied on family and friends for the rest.
It certainly hasn't been a walk in the park for these young entrepreneurs.
'I've scrubbed floors in New York and worked for free in restaurants,' says Ms Janice Wong, 24, owner of 2am:dessertbar in Holland Village which opens in three weeks. 'I had to do it the hard way because there's no short cut to gaining experience.'
She adds: 'You don't get taken seriously a lot of the time. Often, I was given ridiculous quotes and had to do a lot of extra legwork because the people I was working with thought they could overcharge me.'
These difficulties are not standing in their way, though.
'Age cannot stop you if you are determined enough,' says The Arena's Mr Lim. 'If you really want to get something done and you work hard at it, it will happen.'
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