Many global businesses are expanding to South-East Asia to achieve their growth strategies, and Singapore is uniquely positioned as a springboard for businesses looking to enter into the region. The city-state is recognised as a lucrative gateway for businesses due to its advanced infrastructure, political stability, skilled workforce and business-friendly policies.
In addition, setting up shop in this dynamic Asian city-state can be simple when you reach out to the right firm offering company incorporation services. We can help you get your business started in Singapore with ease so that you can begin doing business and achieve the success that you desire. Through fast and effective services and a hassle-free communication, we make company incorporation simpler and easier and look to guide you through the process of setting up your business. We also provide essential corporate accounting services and offer a one-stop financial solution for all of your financial and business needs.
If you are wondering why Singapore is a lucrative gateway for your business, then here are 4 key reasons you should know.
1. Developed infrastructure
Over the decades, Singapore has developed into a state with one of the best infrastructures in the world. A recent report by a global consulting firm, Mercer, had ranked Singapore as first among 221 cities in terms of infrastructure. The report measured electricity, availability of water, communication networks, public transport and efficiencies at the ports. Singapore was also ranked first in digital infrastructure, according to the Economist Intelligence Unit.
Such infrastructure is crucial for efficient business operations. This presents a great opportunity for you to set up your business office and tap into the best infrastructure in the world.
2. Political stability
If you are looking to learn about the political stability of a business destination, newspapers and public reports can help you get started. A recent business risk review by the UK government ranked Singapore as one of the “most politically stable countries” in the region. One of the critical areas of assessment was the country’s judicial system which was also recognised as one of the most efficient in the world.
Political stability is a vital element in business success, giving you a strong sense of security. With a favourable business environment, you can look forward to running your business confidently and tap into its growth potential in the market.
3. Skilled workforce
Great infrastructure and political stability make for an excellent business environment. However, who you employ to work for the company plays a role too. It can be frustrating to set up a company but not have the right people to do the job. Singapore is constantly encouraging a highly-skilled and competitive workforce, especially with national movements like SkillsFuture to help the people develop and maximise their potential. You can certainly tap into a wide talent pool for your business. In fact, in a recent Global Talent Competitiveness Index, the country ranked second globally.
4. Business-friendly policies
If you are looking to expand your business, you want to work with best partners possible. This is where we can provide all the essential financial services that you require, from accounting bookkeeping services to tax accounting services and much more. Our role is to provide your business with the right financial solutions so that you can meet your financial and accounting needs without any issues. Through fast, effective and proven solutions, your business will be in the right hands moving forward.
This country has repeatedly ranked first in the World Bank’s Ease of Doing Business report and have also won many other accolades. Singapore’s business-friendly policies ensure that your company can maximise profits through attractive and efficient corporate tax regime, along with one of the strongest IP protection policies in the world.