It’s no secret anymore that this is an Asian century. The emerging economies of India, China and other South-east Asian nations have ensured that an increasing number of companies are moving in this region to take advantage of large domestic markets, cheap labour availability and booming infrastructure.
And standing firm on the pillars of low corporate tax rates, integrity, quality, reliability, high productivity, rule of law, availability of skilled manpower, and enforcement of intellectual property rights, the city-state of Singapore provides the most conducive environment for companies looking to expand in the region.
Singapore Company Registration specialist (SCI) analyses why you should choose Singapore for business as well as the benefits Singapore provides to companies looking to head-quarter their Asian operations here.
1) You will enjoy the benefits of excellent connectivity and a strategic location
Singapore is home to the world’s top companies across all industries, in part, due to its location in the heart of South-east Asia and close proximity to emerging markets of India and China. It’s Changi International Airport serves over 80 international airlines with connections to more than 330 cities, along with hosting many leading logistics firms such as UPS and FedEx.
There is little wonder then, that in the Logistics Performance Index, a worldwide survey of global freight forwarders and express carriers and a benchmarking tool developed by the World Bank, Singapore was rated top in Asia for logistics performance.
Additionally, Singapore’s seaport infrastructure has been ranked the best in Asia for the past two decades. The container ports here are the busiest in the world, offering 200 shipping lines with links to some 600 ports in 123 countries.
In telecommunication and information technology, the country’s broadband network reaches 99 percent of the population, with international and regional connectivity measuring 27.6 Tbps to more than 100 countries at last count.
2) You will be a part of the start-up nurturing and business-friendly ecosystem
Singapore consistently tops World Bank’s Ease of Doing Business report due to its hassle-free business set-up processes and was also rated as offering the best IP protection, infrastructure, and incentives in Asia by World Economic Forum’s Global Competitiveness Report 2015-16.
The Economist Intelligence Unit, Country Forecasts Report in 2014, ranked Singapore as the most attractive investment location, both regionally and globally.
The Global Innovation Index (GII) 2015 ranked Singapore as the best-performing Asian country in terms of innovation performance.
Besides providing easy access to capital to budding and successful entrepreneurs, Singapore continues to be well-regarded as a triple-A rated economy and a stable location for business expansion as well as for investments. The country hosts over 128 commercial banks, with many head-quartered here to service all their regional activities.
There are also 31 merchant banks and 604 capital markets services license holders in Singapore.
It is also the hub for wealth management and investments in Asia. The city-state has the world’s third largest forex trading center, Singapore Exchange (SGX).
The Singapore Government has played its part too in propelling the nation towards a thriving start-up ecosystem. One of its initiatives is called Startup SG, which is essentially a launch pad for entrepreneurs by providing them with a platform to access local support initiatives as well as connect to the global entrepreneurial network.
The platform of Startup SG is categorised under six different pillars. Start SG Founder – for providing valuable mentoring to first-time entrepreneurs; Start SG Tech – for providing early-stage funding for commercialising a tech idea; Startup SG Equity – which catalyses equity investment for start-ups; Startup SG Accelerator – aimed at enhancing capabilities of accelerators or incubators; Startup SG Talent – which guides entrepreneurs on how to attract and retain promising global talent as part of their team; and Startup SG Loan, which connects start-ups to much needed financing.
Read more on the reasons why you should start a business in Singapore at Singapore Company Incorproation website.
