Best places for social entrepreneurs: Singapore, Silicon Valley, London

Today I will be sharing about how Singapore is viewed as one of the best places for social entrepreneurs.

In this article, the author mentioned on his thoughts that Singapore has the potential to be one of the best places for social enterprises. After reading on the article, I have to say i agree with the points made by the author, Even though Singapore does not have the direct market for some social enterprises, such as poverty, diseases etc. Singapore is still one of the best countries to start up a social enterprise. The article shares with us various reasons, such as the access to funding, supportive environment, good business climates and etc.

Personally, I feel that the article might be right. Singapore does have it's advantage, of being a regional hub for business. So it has the potential to be the same for social enterprises. I agree with some of the points that the article mentioned, I feel that it would be important for the Singapore Government to establish a legal structure of entity for Social enterprises in Singapore. In some countries, social enterprises have a legal structure, known as B corps, where they are more easily identified, and have better access to funding and grants. I feel that such a system would be beneficial to social enterprises in Singapore. Social enterprises in Singapore often have to start as a regular business, where they are subjected to stringent checks, and many requirements to apply for grants and loans. By having a B Corps or similar status, it can open up more opportunities for social enterprises, and encourage more people to start up social enterprises. I feel that it would also allow the public in Singapore to better understand the definition of social enterprises, and not be confused by the term.

In conclusion, I feel that although Singapore is not the best place for social enterprises yet, it has the potential to be in the near future, but there are things that could be improved on first.