Ni hao! Hello everyone
I have to say "thank you" to forbes.com to direct me to such a great site about entrepreneurship and business . I was browsing through forbes on funding for start-up for different kind of business opportunities and I was directed to startupnation.com.
Firstly, I am really glad to see so many aspiring/ successful entrepreneurs in startupnation.com. I can`t wait to share my views/experiences/problems to everyone and to gain that extra knowledge on entrepreneurship!
For your information, I`m from Singapore and I hope to share what I know from my country. So do ask me lots of questions so that I can ponder about it and exercise my brains.
Anyway, I`m here posting this topic because I found this issue affecting quite a number of young entrepreneurs in my country / maybe in any part of the world. I would like to talk about my situation about funding opportunities for start up. Since a couple of months ago, a business idea struck my mind (when i was having my examinations! haha) as I could sense good demand in the future for this market. Its about renting sport facilities/ space to recreational players that wants to play like professional players. In Singapore, land area is limited and it`s hard to find a proper football pitch unlike other countries which have vast amount of space. The weather also changes very rapidly in Singapore as we are near the equator. Its either too dry or too wet to play football in Singapore. Football is one of the favourite sports in Singapore, although our country is not ranked among the best in the world/asia, we get live telecast of football matches from the English Premier League every weekends. So, football is quite popular in Singapore.
My idea is to create something like an indoor football pitch to play 5-a-side football ( something like futsal but played on turf). Then, I would rent this facility out on an hourly basis. There are further development on the process as I am still cracking my head working on the business plan.
I`m on a situation now that I just finish my polytechnic education and awating for national service(2 years of servicing for the army for all guys above 18 years old). I`m quite disappointed with this policy as I couldn`t focus 100% on my business idea. But I have to protect my country and I will protect it with pride :)
I`m looking at around S$25 - 50k start up funding for my idea. I understand that banks do loan capital to entrepreneurs but without pass records and security, it`s kinda hard to get this loan. It`s not a small amount of money. I was thinking of business angels to fund my start up but I do not know where to start from. Bootscraping looks impossible as I do not have that much pocket $$. In my opinion, most students graduated from tertiary education do not have sufficient funding on hand to start a business idea similar to mine, which required certain amount of capital. I hope to hear your opinions on this issue and some advices to my problem. Thank you!
"Success is 99% hardwork and 1% intelligence"