Make S’pore system flexible for senior entrepreneurs

Entrepreneurship is for all, regardless of age (“S’pore to create space for ‘winners’ to emerge: Heng Swee Keat”; April 8, online).

“Colonel” Sanders founded Kentucky Fried Chicken in his 60s, and Mr Ray Kroc established McDonald’s when he was 52. If Singapore focuses only on the youth, then we would lose the opportunity to have senior entrepreneurs like them.

Anyone with enterprising passion, guts, foresight and determination should be nurtured in entrepreneurship, and our local system should be flexible, especially for innovative seniors who have seed money in their Central Provident Fund account.

The Government can give a hand to these experienced Singaporeans by allowing them to borrow from their CPF for their ventures, or lend them working capital based on their CPF balance.

Why not think positively, beyond the standard reply that the CPF scheme is meant for retirement? When these elders make profits, they would thus enjoy their retirement.

Let us remember the saying “nothing ventured, nothing gained”. Entrepreneurship means taking calculated risks after doing due diligence and one’s homework.