Most definitely, that's why i sing :)
There are so many people out there that actually can sing and they don't even know it. I take myself for example, I was always too afraid and never had the guts to try, but if it wasn't for one of my friends that signed me up for a competition (Which i won) :) then i would never have known that I actually can sing.
Don't be scared, try ... people might laugh at you once, but it's a very small sacrifice to pay rather that living your whole life without knowing.
PS. Karaoke is a very good place to practice or try it out for the 1st time without having the laughing factor! :)