Overcoming challenges to set up novel businesses

17 Sep 2018

Article highlighted the difficulty for novel businesses to find space in Singapore compared to tried-and-tested businesses. They face obstacles such as regulations and insurance. Mr Lucas Tok, marketing and retail lecturer at SP’s School of Businesses, opined that novel businesses are important to liven up the current flagging retail scene as they provide unique forms of entertainment. Mr Benson Ong, who teaches entrepreneurship at NYP, opined that first-movers need deeper pockets to pay for learning fees and more time to get it right. (The Straits Times, pC1)