Maybank Singapore has launched the Young Entrepreneur Scheme (YES) Programme to help the entrepreneurial millennial generation bridge the gap between their dreams of launching a business and turning it into a reality. The Bank observes that a lot of new and young business owners face many challenges in starting a business, be it in their financial resources or the lack valuation or fund-raising opportunities. Without at least two years of business track record, it is often difficult for them to secure a bank loan for business expansion and they would have to fall back on their own savings or fund raising efforts.
First-time entrepreneurs may also lack appropriate business management tools or relevant experience in running a business, as well as a business network to find peer and mentor support. Maybank’s Young Entrepreneur Scheme (YES) is a holistic solution designed to address these gaps faced by micro and SME business owners. New clients who are operating businesses that are registered and incorporated in Singapore for less than 2 years, with at least one local director or co-founder under 40 years old and a minimum of 30% local shareholding by Singapore Citizens or PR are eligible to sign up for the YES programme.
