Start-up courses for PMETs

HELP is at hand for retrenched professionals who are toying with the idea of setting up their own business during the recession.

From next month, polytechnics here will be rolling out entrepreneurship courses for professionals, managers, executives and technicians (PMETs).

About 500 training places will be available at these courses, developed jointly Spring Singapore and the Action Community for Entrepreneurship (ACE).

The announcement was made on Friday by Trade and Industry Minister Mr Lim Hng Kiang at the ACE Bluesky Festival.

Planning for these courses began in April when the Enterprise Development Centres, run by business associations reported an increase in the number of PMETs seeking start-up advice.

'Going into business is not that straightforward,' said Mr Sim Choon Siong, deputy director of entrepreneurship development at Spring Singapore.

'A lot of PMETs who are thinking of entrepreneurship may be very good in their job as professionals, but may not be exposed to the business aspects of things. These courses will introduce them to these elements.'

PMETs make up 37 per cent of the 12,760 workers made redundant in the first quarter, and an increasing number are considering entrepreneurship.

Small and medium-sized enterprises (SMEs) constitute 99 per cent of the 160,000 enterprises in Singapore. A third of these business owners are estimated to be PMETs.

Meanwhile, SMEs employ nearly six out of every ten workers - providing about 1.5 million jobs - and contribute to half of Singapore's gross domestic product.

Mr Lim said: 'I am very encouraged that despite the economic downturn, the number of start-ups formed has not dipped over the past few months.

'Perhaps, the weaker job market has even prompted more entrepreneurs to seize the opportunity to set up their own businesses.'

- The Straits Times