But you must be asking yourself, "Why in Singapore?"
Among the industrialzied countries, many new and growing businesses nowadays chose Singapore primarily because of its reputation and stability in terms of economic and facility. Other needs to reposition their office in a competitive trading nation for added sales and reliability." These are credible based on facts and figures. As per our own study, I was able to get some reasons and statistical reports:
o Singapore is strategically located near ASEAN manufacturing countries and are considered the center of commodity trading in the world
o Singapore bridge the gap in commodity trading
o Efficient Facility
o Better Air and Sea ports.
o SMRT complements workforce and business establishments
o Comfortable living
o Nice recreation for our guest is awesome
o And a lot more which is enough reason to get the respect of both partners and investors, in and out of Singapore
According to World Bank, "Singapore is the cheapest place to start a business in Asia."
"The 2nd most profitable place for investors," according to Global 2003, BERI
As for start-up firms or aspiring foreign entrepreneurs, he/she must first formulate a viable business plan to pass the approval of concerned Singapore government agency for the licesence to operate and the required work permit/working Visa for himself and his immediate family. Funds are granted by a number of concerned government agencies but proponents have to qualify to their standards and criteria. Most of them has standard format on business plan, you just have to download their template through their websites. Nonetheless, I will be enumerating some of the basic information needed that has to be in the business:
I. Executive Summary
II. The Business
1. The Business Model and Value Proposition
o Business Name
2. The Products/Services
3. Market Structure and Analysis
o Target market and customer base
o Market size and potential
o Competitor analysis
o Competitive analysis
4. Marketing and Distribution
o Marketing and communication
5. Production process and development
6. The supplier and raw materials
7. Company structure and management
8. Planning and strategy
9. S.W.O.T. Analysis
10. Price breakdown of products/services
11. Investment Plan
12. Source of Plan
III. The Financial Plan
IV. The Development Impact
Others: You may also need to include the expansion plan and Risk management plan.
This business can expand in the near future, depending on how effective management in administering the business. Having the right invesment/investors and partners means a lot in attaining success.
To avoid waste of time and money, I recommend two crucial partners:
1. Rikvin Consultancy Singapore (permits and documentation processing, including initial setting up related to office, business plan polishing, etc.)
2. SAP International/Singapore (setting up of effective and globally competitive systems and procedure)
(Most of the tips and outline can somehow be adopted if you also want to do business in globally competitive trading countries)