S2E9: How to start a start-up in your 20s

Jan 5, 2025

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A young start-up founder talks about quitting his job to take the path less trodden, and discuss with DBS the ingredients for success.

Synopsis: Every first and third Monday of the month, get a headstart in your personal finance and career with The Straits Times.

Gen Zs are embracing the entrepreneurial life. Instead of working for someone, they want to start their own companies, sometimes fresh out of school.

There are also more entrepreneurial programmes for them even in secondary schools. Online platforms also let them start businesses online and have a wider audience for their products and services.

But what exactly is involved in starting a start-up? Is it something only for the rich kids or is it within reach of everyone?

In this episode, ST business correspondent Sue-Ann Tan looks at how people can start their own business even in their 20s, and what’s involved in the process.

Her guests are Accredify founder Quah Zheng Wei, who started his business aged 27, and DBS Head of Corporate and SME Banking Koh Kar Siong.

Highlights (click/tap above):

1:52 The steps to starting a start-up

5:33 Quitting his banking job to venture out on his own

8:39 Entrepreneurs as young as 12

14:40 How to get funding

21:16 What defines a successful start-up and what’s the survival rate?

24:28 What are your ingredients for success?

28:05 Will starting my own business make me rich?

Read Sue-Ann Tan's articles: https://str.sg/mvSa

Follow Sue-Ann Tan on LinkedIn: https://str.sg/A86X

Host: Sue-Ann Tan (suetan@sph.com.sg)