2. Speeches
Speech by MOS Alvin Tan at Spirit of Enterprise Awards 2025
27 October 2025
Ms Novie Djayayanti Tjoa, President of Spirit of Enterprise (SOE)
His Excellency Tran Phuoc Anh, Ambassador of the Socialist Republic of Vietnam
Distinguished guests
Ladies and gentlemen
Introduction
It is really an honour to be here, to spend time at the SOE Awards Ceremony and honour the achievements of all of you represented here tonight – our local entrepreneurs.
As many of you already know, SMEs represent and make up over 99% of Singapore’s enterprise landscape and you account for over 70% of our workforce. So even though it is “small and medium”, you are by no means small and insignificant. You, in fact, contribute significantly to Singapore’s economy, creating jobs and fostering innovation across many different sectors. But your impact goes beyond numbers because, for over 20 years, SOE has played a vital role in nurturing and celebrating our local business community. For that, I express my deepest appreciation and utmost admiration.
SOE’s Enduring Legacy
Since your founding in 2003, you have recognised and supported over 700 entrepreneurs across diverse industries and business models. So please join me in congratulating Ms Novie Djayayanti Tjoa on assuming this very important mantle as SOE president. Congratulations, Novie.
Novie, your leadership marks a new chapter along the enterprise and entrepreneurship journey. But I would also like to acknowledge Mr Ismail Gafoor – who is not here tonight – for his contributions as immediate past president.
Tonight, I would like to focus on three specific groups in my speech. First, youth or the young-at-heart. Second, women. And of course, micro-businesses.
Let me start with many of you here: our youths, or the young-at-heart. Many of you have a built a very strong ecosystem together with SOE through initiatives like the Student Interviewer Programme, which connects young Singaporeans with business leaders who are established in their fields to learn from them. SOE, you have done a remarkable job in this regard. Over 1,000 students have benefitted from this programme, and we will recognise seven students tonight for their outstanding performance this year. Please join me in offering a round of applause to all our young students here.
These initiatives spurred on by SOE speak to your holistic approach to entrepreneurship and your commitment to support communities, and also to nurture the next generation of young leaders to take on the mantleship of entrepreneurs. You have done remarkable work with our youths and I urge you to do even more.
Advancing Women in Enterprise
Almost half of the room here today are women. SOE has been a champion of women’s voices and entrepreneurs over the years. This year, almost half of the honourees are women. To honour them reflects SOE’s and the women entrepreneurs’ growing success and leadership in Singapore’s business environment.
Novie mentioned a remarkable young exemplar for all women and men here in this room tonight, and that is Ms Rachel Wong, Founder & Managing Director of Marunda Private Limited. Rachel served as a past president of SOE, so you are not just a remarkable entrepreneur in your right, but you have also given back to decades of entrepreneurs that have come through SOE’s ranks. Congratulations on your award tonight, Rachel.
10. Since founding Marunda in 1985, Rachel has transformed her company into a reputable land and maritime engineering business – serving commercial and defence clients regionally. Your ability to adapt, innovate, and remain committed to long-term value is exactly what this award recognises: elevating one’s enterprise to new heights while inspiring others. Rachel exemplifies the grit and tenacity required for enduring success. Again, congratulations to Rachel.
11. Amongst many other “Rachel”s in this ballroom tonight, I have seen many others – Hamidah from Parrot Social, Anna from Zora Health, and many others I had the opportunity to meet as we were entering the ballroom. We honour all the women entrepreneurs here tonight.
Introducing the Micro-Business Award
12. The third segment I wanted to speak about is close to my heart, and that is micro-businesses. Tonight, we want to shine a spotlight on micro-businesses. It is important and personal to me because my mother used to run a micro-business selling furniture in a small shop in Peninsula Plaza many years ago, when I was a boy.
13. Micro-businesses are important, and many of you are represented here tonight. You range from hawkers – I met Suman earlier on, she runs a stall in Our Tampines Hub – preserving culinary traditions, to craftspeople, maintaining artisanal skills, and service providers dedicated to serving the local communities. These enterprises may not seek aggressive growth or international markets, but they represent entrepreneurship at its most authentic, because they create value through skill, perseverance, and community connection.
14. To honour them, as Novie mentioned, you have introduced the new “SOE Micro-Business Award”. This award affirms enterprises not just about scale or growth – even though those are important as well – but also about sustaining a trade over time. Entrepreneurship in its essence takes many forms, and all are indispensable to Singapore’s landscape.
The Entrepreneurial Spirit and National Character
15. Youth, women, micro-businesses. These all represent pillars of Singapore’s enduring story as we celebrate 60 years of independence this year. These are the same spirits and qualities that our leaders and our pioneer generations embodied throughout six decades of nation-building: perseverance, adaptability and resilience.
16. Tonight’s Honourees amongst all of you demonstrate these very qualities. Your stories deserve to be heard, recognised and celebrated. Your success inspires others to pursue their opportunities and serves as a blueprint for the next wave of entrepreneurs. In fact, if you do not already know, the Government has just launched an Economic Strategy Review and I am co-chairing the Committee on Entrepreneurship, so if you have any good ideas, please send them my way.
17. We must keep supporting entrepreneurs of all sizes – from micro-businesses to high-growth firms that are present tonight. Your collective success ensures Singapore’s continued prosperity and reinforces our reputation as a nation where business, ideas and enterprises thrive.
18. Thank you for joining this celebration of entrepreneurial excellence. I wish everyone an enjoyable evening ahead.