"I am in my mid 50's and have gone through countless economic recessions. During these years, I had interviewed fresh graduates in trying to secure jobs. In any economy downturn, having a degree or higher paper qualification does not guarantee graduates jobs even with lower salaries.

Having read what some graduates have been mentioning in the press media that they are prepared to secure jobs with lower pay, but any private sector employers will look at such applicants from a different perspective. The simple logic is that graduates takes such jobs just to have an income but when the moment the economy picks up, the majority of them are the first ones to leave the company for better salary and higher status jobs.

Unlike in the public sector, private sector employers generally would not look at the piece of paper as the main criteria be it bad or good times. Without prejudice against degree and higher paper qualification holders, employers would rather employ a Poly Diploma graduate or a lower grade person depending on the nature of the job and pays him/her the market rate salary that they are entitled to.

From my personal observations, the above groups are more dedicated to their jobs because they know the salary that they worth. When the economy turns better, generally, they would remain with the company instead of job hopping.

Take the case of 'law course' for example. Though this course is available in one of the polytechnics which is more fundamental than those pursuing in NUS, law firms here would prefer ones with Diploma in Law.

Why? There is already an over-supply of qualified lawyers in Singapore and what law firms need are assistants with Diploma in Law who will perform simply legal research and other duties which a person with Degree in Law would find such works too low class. Salary is also another factor.

Singapore is one country that as long as one has the courage, perseverance and determination, one will survive through bad times as what we are encountering now.

Are fresh degree holders without experience including those with some experience background but being retrenched, prepare to take risk by venturing out and pursue on something that they are good at on their own?

As the saying goes “No Venture No Gain”. There's no guarantee of success but at least if one will to put in every effort to learn from failure and pick-up again, it makes this person more courageous and stronger.

Why do I mention the above?

Allow to share with you my personal experience. I was having a good job after my graduation and was fortunate to rise up the corporate ladder rather rapidly. I bought my first private property when I was only 27-years old jointly with my wife who was also a graduate and banker.

In addition, the company provided me a car, own office room, a personal secretary and was paid quite a high salary.

But I was unhappy despite the above because I report to my immediate superior who was a veteran in the company for many years, jealous of my ability and perks that the company provided me.

Being a very ambitious person by nature, one day I told my wife that I have enough of office politics, already firm in quitting from the company, forgoing all the perks and decided to be my own boss. I was only 31-years old then and my first son was 3-years old. This was despite my wife's objection as we have to pay for our private property and own car loans, household, son and maid expenses.

I then established my own sole-proprietor building consultancy firm one-man-operation without any experience from home and learn from trials and errors. Despite losing money initially as I was just 'a new kid on the block' and demoralized, I told myself that since I had made up my own decision to be a boss, I have to face up to whatsoever situations that arise and find solutions to solve them.

Through perseverances, courage, an optimistic mindset and 'never say give-up' attitude, I face all obstacles that befall me and eventually, learn how to run my own business. Within 4 years, I have 10 staffs in the company and my office is in the city area. Besides being an employer, I am also an accountant as I handle all the finance and accounting aspects such as paying of salaries, staff bonuses, office rental, etc.

I had my second child (a girl) 6 years after my son. My son has completed his university study and is now working in field of profession while my daughter is pursuing her university study.

For those who find my article long-winded, please pardon me as I want to motivate all young graduates, be it degree, diploma and ITE certificate holders to be courageous enough to set foot to be a boss. Always think out of the box as one do not need experience to run own business. One needs to focus on their own effort to learn along the way.

To be an own boss is not born to be unlike those fortunate ones who are born with a silver spoon whose parents are running their own businesses. Most of the latter will learn the trade from their parents and eventually take over the businesses.

In this current severely hit economic downturn and even if the economy picks up, employment rate will still be low or even go downwards as employers are tightening their belts.

So, if you do not want to be in the category of people who are desperately hoping for miracles to secure a job, you will always be disappointed and depressed whenever you received unsuccessful reply letters. This is one reason that many have became so depressed that they need to seek psychiatric treatments.

There are still money out there to make even in this current downturn. My view is to stand on your own two feet and do something now either on your own or with friends. I wish to stress that it is never easy to run your own business and always think of what qualities that you have to start a particular business. It is only through failures (or maybe not) that make s a person smarter, wiser and successful business person."

Lastly, I wish all of you the best of luck in whatever you endeavour to do.