Channel NewsAsia
The Action Community for Entrepreneurship warns that a majority of Singapore’s start-ups are at risk of going out of business as they face challenges in getting funding and investment due to economic headwinds. Early-stage start-ups have the added hurdle of proving their growth potential or profitability.
“Startups that have not been able to raise funding this year are going to run out of cash next year, and we are going to see more shut downs, more layoffs before it gets better”, says James Tan in his capacity as the Chairman of the Action Community for Entrepreneurship.
