Is setting up a business in Singapore the right answer for you?

Written by Henry Young. Posted in World Business

so you have come up with a great business concept, but the prospect of opening your own company seems challenging and expensive. However, pursuing your entrepreneurship goals is probably not something you are willing to give up on, so finding the best solutions is necessary. One of the biggest decisions you will need to make from the start is where exactly you will be setting up your company.  While your home country might seem like the first choice, considering its convenience, if you wish to access more opportunities and benefits, there is another option that needs your attention. Singapore has become the preferred location for numerous successful enterprises, this “business destination” having quite a few great things in-store for entrepreneurs at the beginning of their journey in the world of business. Because you probably need to get familiarized with the subject in order to be able to make a proper decision, the following insights might help you understand the appeal of Singapore in this scenario:

A business-friendly approach towards taxes

Once you start doing the math on how much money needs to be spent, besides the basic expenses, making the most of a limited budget might seem incredibly challenging. The amount that goes on taxes is usually the one that raises difficulties among new business owners, but what you should know is that in Singapore, you will be presented with a business-friendly system in this department. This location is known for offering the lowest tax rates in the world, this being one of the most powerful reasons why so many direct attention towards Singapore in the first place. Moreover, dividends that go to shareholder are tax exempted, which make things that more convenient. The tax treatment you will be getting if you decide to set up your enterprise there is without any doubts the best you could possibly access, and when you need to keep your expenses to minimal for a proper consolidation of your business concept, this specific detail can make a significant difference.

Open immigration policy

In comparison with many other countries, which demand the pursuit of quite a few complicated tasks before allowing a foreigner to enter their business sector, Singapore is extremely welcoming and actually makes the process of obtaining a visa simple for immigrants. Being able to acquire the legal paperwork that allows you to live, work or own a business in Singapore will be far more reachable than expected, and you’ll figure that out when you research the implications, as A1 Business specialists explain them.

Workforce advantages

A good business idea isn’t all it takes to make it in your chosen industry. A company is as good as the people working there, and in order to achieve the expansion and profitability desired, hiring the right staff remains essential. Well, considering the numerous opportunities available in the education department, in Singapore you will find highly productive, educated and motivated workforce, so building a strong team will be far easier than in other countries around the world. You can get excellent employees and thus benefit from a great start in the industry. While this might not seem relevant at first, when you will begin recruiting, you will conclude how useful Singapore’s workforce advantages actually are.

Company registration – rapid and easy process

One other thing that needs your close attention, when you are entering a new brand on the market is the entire registration process involved. This can be time-consuming and complicated in certain cities and countries around the world, but not in Singapore. Here, everything can be carried out with maximum convenience and rapidity and you will be able to get things going far sooner than expected. Moreover, if you are finding this task difficult, you have the opportunity of hiring professionals who can guide you every step of the way and handle the more complicated tasks for you. With professional support at your disposal, you’ll have your brand registered in no time, and you can start your business activities immediately. You can search online how to register company in Singapore and you will come across all the info you need on the subject.

Loans and grants

If you are in need of funding for your business, or you believe you’ll require a grant somewhere in the future, you might be able to acquire all the financial help you need in this country. The range of financial opportunities available is not a slim one, and accessing the necessary funds is less of a hassle than in other countries. The government also incorporates micro-loans and other specially designed programs to support entrepreneurs and give them the boost they need to keep their business running.

Strategic location plus great infrastructure

Besides the above-mentioned aspects, which are certainly relevant enough to make you give this possibility all of your attention, you will also be accessing an excellent, strategic location. Having your company’s headquarters in Singapore can provide you with the networking advantages you need to rapidly climb the ladder of success and achieve your objectives. Being situated between key Asian routes, this country is considered Asia’s most competitive business hub, its container ports being the busiest worldwide, and its airport being labeled as the best in the world. With more than 6,000 flights a week, you will benefit from easy transition to your home country or any other location your business might be targeting.

Considering all of these aspects, you can clearly understand why so many entrepreneurs have chosen to set up a company in Singapore instead any other location across the globe. Because each detail counts for your future success, making the best choice in this department can be essential. Analyze everything Singapore has to offer you, and decide if this is a suitable fit for your situation. If you are looking for convenience, ease and affordability, you will be getting all three of these benefits in Singapore, a business hub that continues to expand and grow.