Many SMU and NUS undergraduates become entrepreneurs while still in school. Some reasons for this trend include low liability and opportunity cost, as well as easier access to funds or sponsors. However, these entrepreneurs also face certain setbacks and risks. They still need to sink in their own money for matching grants, or find more personal sources. One such example is Mr Elliot Lin, who ran a chauffeur-driven limousine business while studying at SMU. On top of S$16,000 of his own savings, he borrowed about S$4,000 from his parents for the initial outlay.
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TODAY
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