Young Business Leaders (YBL), a network of Singaporean business leaders and entrepreneurs, marked their first major milestone today with the launch of 'Beat the Recession', a wholly-private sector led initiative aimed at helping local businesses ride out the current economic crisis in May.

The launch event was graced by Mr Teo Ser Luck, Advisor to Young Business Leaders (YBL), Senior Parliamentary Secretary, Ministry of Community Development, Youth and Sports and Ministry of Transport, and Chairman (National Youth Council).

Representatives from pledging organisations such as Singapore Chinese Chamber of Commerce & Industry, Singapore Indian Chamber of Commerce & Industry and the Association of Small and Medium Enterprises (ASME) were also present to pledge their support.

The first-of-its-kind in Singapore and in the region ,'Beat the Recession' is a pro-bono initiative collectively led by the private sector to reach out to local businesses and Singaporeans nationwide. This innovative project is driven by three key objectives - to Encourage Singaporeans during these economically troubled times, to Engage local businesses and Singaporeans to act positively and to Empower Singaporeans to take bold steps in decision-making.

Founded in December 2007, the YBL was an initiative of the Youth Network Committee under the National Youth Council (NYC) to engage rising young entrepreneurs and business and corporate leaders. The YBL aims to support collaboration and sharing through networking sessions, the exchange of best practices, as well as the promotion of entrepreneurship and corporate leadership.

Mr Douglas Foo, CEO of Apex-Pal International Ltd says, “YBL intends to lend a helping hand to Singaporeans in surmounting what is possibly one of the hardest-hit downturns Singapore has seen in a long time. It is up to us as SMEs, and Singaporeans, to do our part to help each other along in these trying times and to emerge as winners. By initiating 'Beat the Recession', we are gearing up for the next wave of growth and will be ready to optimise opportunities once the economy is back on track. ‘

Youth and Business Centred
To underscore the business and youth-centric nature of this initiative, 'Beat the Recession' will strive to ensure that young entrepreneurs and individuals who lack the requisite experience in business crisis management will be equipped with the right skills set and capacity to avoid potential pitfalls. YBL will be involved in knowledge sharing with other fellow business leaders to aid them in riding out the current economic downturn and helping one another in exploring potential business opportunities.

The Role of Online Media
A web-portal www.itstartstoday.com.sg has been set up as a single platform for organisations and individuals to exchange ideas, strategies and tips with one another. The web portal will also host the initiative’s music video “It Starts Today” which features artistes such as Irene Ang, Rebecca Tan, Allan Wu, Murali, singers Mang and Rico with a cameo appearance by Mr. Teo Ser Luck himself.

Organisations and individuals open to sharing their ideas just need to log on to the web portal and pledge online to make their commitment to not give up on 'Beating the Recession'. After submitting their pledge, they will be invited to post tips or case studies in which other businesses can learn from and apply. Organisations offering services, activities, packages and programmes may also post them on the help resource section. Submissions will be subjected to a moderation and approval process.

For more information, visit www.itstartstoday.com.sg.