Jobless grads turning into entrepreneurs

  • AseanPlus News
  • Tuesday, 18 Mar 2003

COMPUTING graduate Kenneth Foo, 25, could not find a job, so he started a tuition centre with two partners on the second floor of a shophouse last December.  

He works 12 hours a day, seven days a week, and lives on S$200 (RM440) a month. He has no salary. 

Still, he is hopeful that things will work out. 

Today's hard times are transforming university graduates like him into their own bosses. 

The December 2002 manpower survey, the latest, found that the number of degree holders who were unemployed for at least six months had gone up from 1,700 a year ago to 3,100. 

A National University of Singapore survey showed there were 69 entrepreneurs in 2002, almost three times the number in 2001. At the Nanyang Technological University it was 10 in 2002, double the number a year ago. 

But not all are going into business because they can't find a job. Magician Wee Kien Meng, 24, who got his Arts degree from NUS last June, He started a magic business and earns almost S$4,000 (RM8,800) a month. –The Straits Times/Asia News Network  

  • Another perspective from The Straits Times, a partner of Asia News Network. 

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