Traditional Jobs Drying Up, Singaporean Teens Turn to Entrepreneurship

SINGAPORE- With Singapore’s constantly shifting employment landscape, a minority group of teenagers are rewriting what work typically looks like, by running their own businesses instead of hunting for part-time jobs.

Recent labor force data from the Ministry of Manpower Singapore paints a sobering picture, a downward trend of youth employment rate, from 2010 to 2024 there was a total decrease of 25.2% in the employment rate for ages 15-24.

Furthermore, nearly 17,000 young people within the age group are not in education, employment, or training (NEET), with the Ministry of Manpower reporting a 4.1% NEET rate in both 2023 and 2024. 

According to a recent Yahoo finance report, only 34.1% of youths aged 15-24 are employed. Despite slight improvements since COVID-19, the employment rate stays around 8% according to the World Bank.

These statistics paint a clear picture, traditional jobs are becoming harder to pass by and rather than wait for them, teenagers have started creating their own.

One of them is 20-year-old Ethan Chia, who runs a small business selling customisable mac and cheese dishes at Ngee Ann Polytechnic. “I think running my own business is nice. It’s a lot more free because you are always doing things yourself.” he quipped. He also recounted his past job experiences, but compared to them, “having a business is more fulfilling.” 

Ethan launched his food stall with the help of Ngee Ann’s Sandbox programme, which supports student-run business with resources. He explains that he enjoys the autonomy that comes with entrepreneurship, a feeling he couldn’t find in traditional roles.

Experts say that this trend is not solely due to unemployment. Ee Ling, the co-founder of Young Founders Summit notes, “a lot of the youth are leaving jobs to do it, or they are choosing to do it while in university.” She attributes the growth to more exposure towards entrepreneurship through programmes in school and social media. Furthermore, Ling also notes that entrepreneurship was used to combat job loss during COVID-19 through government initiatives that might have given awareness towards the masses of starting your own business.

A 2023 study done by Soristic and Youth Co:Lab shows that 40 percent of Singapore’s social enterprises are led by youths, this shows young people's growing hunger to earn their own keep and make a positive difference in society.

While entrepreneurship has its own risks, mentors like Ling believe that it offers valuable lessons and experience.

Ling explains “That’s a muscle that someone who’s gone through it before, even if they failed the first time around” “knowledge that they can take into their next chapter.” Ventures like these equip youths with soft and hard skills, which may be useful for their future.

Ling quotes “If not you then who? And if not now than when?”, “There’s never a good time, the best time is yesterday.” 

In a job market that is getting increasingly competitive, stories like Ethan highlights a trend, that entrepreneurship is more than an alternative, it’s becoming the first choice for some.