POTENTIAL SPACE FOR YOUNG BUSINESSES
The Singapore Malay Chamber of Commerce and Industry (SMCCI) said that such a test bed would provide the support that new businesses need.
Entrepreneurs who are just starting out struggle with finding the right mentorship, said SMCCI assistant honorary secretary Syahiran Rohajat.
He noted that startups now often take to social media to peddle their businesses.
“With these plans, they will have the opportunity … to bring their product to retail.. (and) sell it face-to-face,” he added.
Some virtual businesses expressed excitement at the possibility of a space to explore ideas for a short period with little at stake.
“After those three months, we can have a fully cooked business plan, and we can make better decisions when we finally want to mature into a proper space,” said Mr Nabill Shukry, co-founder of online business Cheekies Singapore, which sells marinated chicken.
“Beyond the space and beyond the resources, mentorship, to me, is the most important, because mentorship will allow us to not make the same mistakes (as the mentors), ” he added.