| 2.40 The third area of focus
is to support entrepreneurship, help local enterprises
grow into global players and ease regulatory restrictions
so as to promote enterprise.
2.41 Our efforts to encourage entrepreneurship
are seeing some results. According to the 2005
Global Entrepreneurship Monitor report, Total
Entrepreneurial Activity (TEA)1 in Singapore increased
from 5% in 2004 to 7% in 2005, still modest but
encouraging. More budding entrepreneurs –
be it from the ITEs, polytechnics or universities
– are taking the plunge to start their own
businesses.
2.42 For example, ten years ago Crestar Education
Group first ventured into China and set up a nursery
school for the expatriate community in Suzhou,
where Singapore was helping to build an industrial
park. Today, Crestar has 19 kindergarten centres
throughout China, including Shanghai, Beijing,
Shenzhen, Changzhou and Dalian.
1Total Entrepreneurial
Activity is the sum of those individuals who are
involved in the start-up process and those individuals
who are active as owner-managers of firms less than
42 months old.
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