Your best business development ideas in Singapore

Hi everyone,

As a foreign entrepreneur, launching a business in Singapore is a fantastic project and an exciting challenge. Some ideas are likely to succeed. Some others are promising but may not work as well as intended.

In your opinion, what kind of business or industry is likely to succeed in Singapore? What kind of industry or service currently unavailable or underdeveloped in the country would meet local needs?

On the other hand, what are the most common business types foreign entrepreneurs would be eager to launch in the country but with very little chance of success?

Thank you for your insights.

Singapore consistently ranks as one of the best places in the world to start a business. Rules and regulations are few, bureaucracy is simple and efficient, taxation is low.
However, this also means that many people try to start a business there, which increases competition. (This is wanted by the government to keep inflation low.) You must be better or cheaper or both to survive, thus choose your business niche wisely!
Another problem are business costs, especially when it comes to property (office and warehouse rents or prices are sky-high!) and manpower (salaries are among the highest in Asia). You'll find a well-educated and disciplined workforce, but a lack of low-skilled workers.

One thing about business visa: It is VERY difficult to get a visa to start or run your own business in Singapore, unless it's an established big company that will employ many locals. Read about the EntrePass to see what is required.
If you want to move there to start a one-man shop or do freelance work - FORGET IT: Singapore does not want or need your patronage!


Thank you.

I am doing  Engineering and financial Consultant.

I am interested to explore opportunities and synergies between us for
mutual benefit

Please  Share  your  contact  details.

Thanks and regards,

Moderated by Bhavna 5 years ago
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