As many as 41 per cent of Singapore professionals plan to start a small business or be self-employed in the next 10 years, a global survey on entrepreneurship has found.
This is higher than the 36 per cent of respondents globally who say they want to be their own boss, according to a study of 7,291 professionals in 11 markets that was commissioned by GoDaddy.
The webhosting company sought the views of these professionals earlier this year, as part of a survey of the market for its online services, which are aimed at small and medium businesses.
Its representatives told reporters in Singapore today that technology has a key role to play in encouraging entrepreneurship, by making it easier and cheaper to build a company website, for example.
Unsurprisingly, a high percentage of millennials seek to stride out on their own. Some 74 per cent of those surveyed say they plan to do so, with many starting a business while still in school.
According to GoDaddy, they are 16 times more likely to start a business in school than Gen X counterparts in the 1980s and 1990s.
Interestingly, in the Republic, the entrepreneurial streak is reflected most strongly in baby boomers. Some 79 per cent of those surveyed in Singapore plan to be entrepreneurs, possibly out of worry about losing a job or finding more flexibility.
Indeed, flexibility is the top reason for people seeking their own paths in Singapore. Some 35 per cent said autonomy prompted them to start their businesses, while money (24 per cent) and worries about corporate layoffs (15 per cent) were seen as less important.
Those in Singapore also believe the government can do more. It should make changes to law and regulations relating to the sharing economy as well as provide more programmes and funding to assist entrepreneurs, according to 57 per cent of respondents here.