Singapore - A private-sector initiative termed "Beat the Recession" has been launched by Young Business Leaders (YBL) to encourage, engage and empower local businesses and Singaporeans during the recession.
Through this new initiative, young entrepreneurs and individuals who lack the experience in business crisis management will be equipped with the right skills and capacity to avoid potential pitfalls. In addition, a web-portal has been set up for individuals and organisations to exchange ideas, knowledge and strategies.
Douglas Foo, CEO of Apex-Pal International Ltd and a member of YBL, says it is up to SMEs and Singaporeans to do their part to help each other in these trying times. "By initiating 'Beat the Recession', we are gearing up for the next wave of growth and will be ready to optimise opportunities once the economy is back on track."
The launch event on Wednesday was graced by Teo Ser Luck, advisor to YBL, Senior Parliamentary Secretary, Ministry of Community Development, Youth and Sports and Ministry of Transport, and chairman of the National Youth Council. He feels this first-of-its-kind initiative in Singapore will allow businesses to "better adapt to the economic situation" and to emerge as winners.
The YBL was founded in December 2007 as an initiative to engage rising young entrepreneurs and business leaders. Under the Youth Network Committee by the National Youth Council, it aims to support the exchange of knowledge through networking sessions and the promotion of entrepreneurship and corporate leadership.
