Commonwealth Secretariat

1. Youth EnterprisesYouth Enterprises
Are The Key to BuildingAre The Key to Building
a Better Worlda Better World
Investing in Youth Entrepreneurship & EnterpriseInvesting in Youth Entrepreneurship & Enterprise
Why and How?Why and How?

2. If I said the CountryIf I said the Country
AustraliaAustralia
What would be theWhat would be the
First Picture in Your Head?First Picture in Your Head?

4. Now if I asked you to Think of SydneyNow if I asked you to Think of Sydney
What would that be the First Picture in Your Mind?What would that be the First Picture in Your Mind?

6. Physically bothPhysically both
SydneySydney and Australia areand Australia are
in the Same Geographyin the Same Geography
But in your Mind they areBut in your Mind they are
in Two Different Places!in Two Different Places!

7. The Point I am making is thatThe Point I am making is that
there is a Far Greater Connectthere is a Far Greater Connect
between Cities than Countriesbetween Cities than Countries
And the Youth are Talking!And the Youth are Talking!
London – Paris – New YorkLondon – Paris – New York
Seoul – Beijing – TokyoSeoul – Beijing – Tokyo
Port Vila – Honiara -- SuvaPort Vila – Honiara -- Suva

8. There is far more Connectivity BetweenThere is far more Connectivity Between
the Youth than is Realizedthe Youth than is Realized

9. – World Citizens are busy. They want things easy toWorld Citizens are busy. They want things easy to
buy and understandbuy and understand
– Increasingly people want convenience and speed of operationIncreasingly people want convenience and speed of operation
– Citizens are looking for healthy foods and productsCitizens are looking for healthy foods and products
to reduce ageingto reduce ageing
– People today are somewhat more aware of environmental issuesPeople today are somewhat more aware of environmental issues
– People do extensive research and sometimes know more about thePeople do extensive research and sometimes know more about the
products than their retailerproducts than their retailer
– This time around people are spending less since theThis time around people are spending less since the
global financial crisesglobal financial crises
The New GenerationThe New Generation
is about Being Right Here and Right Nowis about Being Right Here and Right Now

10. Global TreGlobal Trends are Impactingnds are Impacting
NeedNeeds and Wantss and Wants
Dictating what and where will be bought:Dictating what and where will be bought:
– RFIDs continue to increase in retail applicationRFIDs continue to increase in retail application
– Customer Centricity reemphasizes ‘made for me products’Customer Centricity reemphasizes ‘made for me products’
but also increasing merging of sectors (books + cafe)but also increasing merging of sectors (books + cafe)
– World population will be increasingly representedWorld population will be increasingly represented
by ageing Baby Boomers and Generation Yby ageing Baby Boomers and Generation Y
(for this discussion I will limit to Singapore Statistics)(for this discussion I will limit to Singapore Statistics)

11. Singapore Population is AgeingSingapore Population is Ageing
Resident PopulationResident Population
Continues to GrowContinues to Grow
Old Age Support RatioOld Age Support Ratio
is Reducingis Reducing
Life Expectancy at BirthLife Expectancy at Birth
is Increasingis Increasing

12. LFPR Will Continue to RiseLFPR Will Continue to Rise
(lLabour Force Participation Rate)(lLabour Force Participation Rate)
Age PyramidAge Pyramid Labor Force Participation RateLabor Force Participation Rate
http://www.singstat.gov.sg/stats/visualiser/population/population.htmlhttp://www.singstat.gov.sg/stats/visualiser/population/population.html

13. Singapore just like Most CitiesSingapore just like Most Cities

14. Timing is Ripe for Focus onTiming is Ripe for Focus on
Youth BusinessesYouth Businesses
Pre-financial crises corporations were all about:Pre-financial crises corporations were all about:
– Consolidating for bigger market sharesConsolidating for bigger market shares
– Commanding bigger geographic footprintsCommanding bigger geographic footprints
– They were mostly concerted on diversification:They were mostly concerted on diversification:
– Short-term gainsShort-term gains

15. TheThe SinSingapore Statistics Favored Youth Start-upsgapore Statistics Favored Youth Start-ups
• GDP up 10.6% in 3Q 2010GDP up 10.6% in 3Q 2010
• CPI up 3.5% in Oct 2010CPI up 3.5% in Oct 2010
• Total Trade up 15.0% in Oct 2010Total Trade up 15.0% in Oct 2010
• Index of Industrial Production up 31.0% in Oct 2010Index of Industrial Production up 31.0% in Oct 2010
• Retail Sales up 0.3% in Sep 2010Retail Sales up 0.3% in Sep 2010
• Total Population was 5.08 million in Jun 2010Total Population was 5.08 million in Jun 2010
• Employment was 3.08 million in Sep 2010Employment was 3.08 million in Sep 2010
• Unemployment Rate (SA) was 2.1% in Sep 2010Unemployment Rate (SA) was 2.1% in Sep 2010

16. Timing Is Ripe for Focus onTiming Is Ripe for Focus on
Youth Business’Youth Business’
Post-crises it is now about:Post-crises it is now about:
– Having braved the worstHaving braved the worst
– Appreciation for more accountability and less complicationAppreciation for more accountability and less complication
– Having less time now consumers never want to be treated inHaving less time now consumers never want to be treated in
the same waythe same way
– Public consensus is in search of a fair deal and sustainabilityPublic consensus is in search of a fair deal and sustainability
– Public questions corporate social missionsPublic questions corporate social missions

17. Investment inInvestment in
Youth Businesses'Youth Businesses'
The Recent World-Wide Economic CrisesThe Recent World-Wide Economic Crises
has Helped Consolidated Consumerhas Helped Consolidated Consumer
and Business Conventionand Business Convention
Paving the Way forPaving the Way for
A New Wave of Business EnterpriseA New Wave of Business Enterprise

18. ““Keep the Money Local”Keep the Money Local”
AttitudeAttitude
The Fundamental Attitudinal ChangeThe Fundamental Attitudinal Change
We Need to AchieveWe Need to Achieve
mindset
mind-set
mentality
outlook

19. ““Keep the Money Local” AttituKeep the Money Local” Attitudede
If we imagine the any economy to be a bucket withIf we imagine the any economy to be a bucket with
money pouring in from various sectorsmoney pouring in from various sectors
Then it makes good sense for us:Then it makes good sense for us:
– To make sure that we minimize leaks outside our economyTo make sure that we minimize leaks outside our economy
– To ensure that within this economy the money changes handsTo ensure that within this economy the money changes hands
as many times as possibleas many times as possible
Encouraging local expenditure provides jobsEncouraging local expenditure provides jobs
and income for Singaporeand income for Singapore
Ensuring a secure longer term future for local economiesEnsuring a secure longer term future for local economies

20. Benefits of DevelopingBenefits of Developing
Youth BusinessYouth Business
• Building local economyBuilding local economy
• Ensuring local jobsEnsuring local jobs
• Protecting home-grown character and prosperityProtecting home-grown character and prosperity
• Saving time, money and local environmentSaving time, money and local environment
• Ensuring local product diversityEnsuring local product diversity
• Protecting local servicesProtecting local services

21. Youth Business isYouth Business is
a Country Investmenta Country Investment

22. The Organizational DifferenceThe Organizational Difference
the Youth Business Programsthe Youth Business Programs
Must PreserveMust Preserve
Youth BusinessYouth Business
Regular BusinessRegular Business
In youth business the kids grow up andIn youth business the kids grow up and
leave but the fundamentals prevail.leave but the fundamentals prevail.
In all cases the structure must supportIn all cases the structure must support
the originalthe original goals and valuesgoals and values

23. Youth Business StrategyYouth Business Strategy
Requires SupportRequires Support

24. If Youth Business isIf Youth Business is
to be Successfulto be Successful
Governments & NGO’s RoleGovernments & NGO’s Role
Need to promote and develop YouthNeed to promote and develop Youth
Business as sustainable enterprises thatBusiness as sustainable enterprises that
address Social and Economic needsaddress Social and Economic needs
through the principle of self and mutual helpthrough the principle of self and mutual help
so as to foster a more resilient societyso as to foster a more resilient society
Strategic IntentStrategic Intent
Elevate & Establish Youth Business byElevate & Establish Youth Business by
dominating society mindsharedominating society mindshare
and perceptionsand perceptions

25. The Sequence of Shifts the MovementThe Sequence of Shifts the Movement
and Program must Evolveand Program must Evolve
Youth BusinessYouth Business
a Jump Starta Jump Start
Youth BusinessYouth Business
as a Tangibleas a Tangible
Business ResourceBusiness Resource
In each CityIn each City
Youth BusinessYouth Business
Operating on aOperating on a
ConnectiveConnective
NetworkNetwork City-CityCity-City

26. The AudiencesThe Audiences
the Program Must Impactthe Program Must Impact

27. 4 Young Entrepreneurs4 Young Entrepreneurs
1 Dream1 Dream
2.5 Million Singapore Dollars2.5 Million Singapore Dollars

28. Spring SingaporeSpring Singapore
• Financing SchemesFinancing Schemes
– Business Angel Funds (BAF)Business Angel Funds (BAF)
– SPRING Startup Enterprise Development Scheme (SPRING SEEDS)SPRING Startup Enterprise Development Scheme (SPRING SEEDS)
– Technology Enterprise Commercialisation Scheme (TECS)Technology Enterprise Commercialisation Scheme (TECS)
– Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)
http://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspxhttp://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspx

29. 174 Start-Ups174 Start-Ups
Receive Seed Funding HelpReceive Seed Funding Help
THE Government last yearTHE Government last year committed over $10 millioncommitted over $10 million to help invest in moreto help invest in more
than 20 start-ups under Spring Singapore's Start-up Enterprisethan 20 start-ups under Spring Singapore's Start-up Enterprise
Development Scheme (Seeds).Development Scheme (Seeds).
That brings toThat brings to 174 the total number174 the total number of firms that have received funding supportof firms that have received funding support
through Seeds since it was introduced in 2001.through Seeds since it was introduced in 2001.
So far, more than half of theSo far, more than half of the $110 million set aside for Seeds$110 million set aside for Seeds has been allocatedhas been allocated
to local start-ups, as part of efforts to groom globally competitiveto local start-ups, as part of efforts to groom globally competitive
companies by providing vital early funding.companies by providing vital early funding.
According to enterprise development agency Spring Singapore, 20 Seeds start-According to enterprise development agency Spring Singapore, 20 Seeds start-
ups have since been able to generate over $1 million a year in revenue.ups have since been able to generate over $1 million a year in revenue.

30. Thank You fprThank You fpr
Your Kind AttentionYour Kind Attention
I Will Do My Best toI Will Do My Best to
Answer Your QuestionsAnswer Your Questions
mauricewilliams.esq@gmail.commauricewilliams.esq@gmail.com