Why You Should Start Your Business
- Posted by admin
- 30 July 2013
Singapore has been touted as the best country to do business in the world, according to a World Bank report back in 2012, for the 7th year running. It is certainly widely recognized that the Singapore government loves to help new businesses start up, and has made a wide array of resources available for them to dig into. This prompted Innov8 CEO Edgar Hardless to comment:
"Singapore is really the easiest place in the world to set up a company. It requires absolutely minimal effort and can be done in three to four days,".
Assistance Given to Entrepreneurs
Almost every Singapore government agency out there has a scheme for any entrepreneur looking to start a business, or even further concessions to assist growing businesses. In fact, there are so many options that it is fairly difficult to keep track of all of them – though some efforts were made to do so. In other words, securing seed funding at the start should be a cinch, as is growing your business mid-stage. All one needs to do most of the time is just to fill in a form, and wait for the funding to come in.
Additionally, despite popular opinion, the start-up ecosystem in Singapore is very healthy, with a growing start-up community on the rise and several incubators accelerators (such as Golden Gate Venture Investments, Jungle Ventures, Red Dot Ventures, and JFDI.Asia), and co-working spaces (such as The HUB Singapore, Cowork@SG, and Makespace) sprouting up and making Singapore their home as well.
Stable and Attractive Environment
Singapore's business environment has accumulated a long list of accolades and awards over the past years. It's close proximity to surrounding emerging markets also makes it the vibrant centre of business operations. As a result, the world's top players in every industry have chosen to base their operations right here.
In addition, Singapore also has one of the most stable political environments in the world, with corruption rates at the lowest point in 7 years as of 2012. Crime rates are also kept at a consistent low. It is therefore not surprising that thousands of multinational corporations (MNCs) would be secure in choosing Singapore as their number one location to set up shop.
For these reasons, Singapore is the perfect place both to start a business up, and to carry it on through to maturity, with peace of mind.