Millennials who buy SMEs
There’s more than one way to become your own boss. Instead of starting a business from scratch, some millennials aim to acquire and manage SMEs.
Paige Lim
AFTER getting a Master of Business Administration (MBA) from Harvard Business School in 2018, former investment banker Amelia Lee, then 29, decided to become an entrepreneur. But instead of building her own startup, she took a less conventional path: searching for a small and medium-sized enterprise (SME) in Singapore to acquire and manage.
Lee convinced two peers, Aileen Seah and Goh Xin Ying, to quit their jobs and join her full-time on this search. The trio set up entrepreneurial firm Potter Capital, and began cold-calling companies and heading to industrial sites to meet potential targets.
Today, they are the managing directors of The Health Collective, a group of three SMEs – a chiropractic chain, dental chain, and osteopathy and physiotherapy chain – separately acquired over the past four years.
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