Business Plan for Singapore
Have Our Business Plan Experts Create An Engaging Business Plan for your Company in Singapore
Singapore is one of the most prosperous nations on the planet, and a large part of this has to do with its active business culture. This Southeast Asian country is considered one of the best and biggest start-up ecosystems in the world. In fact, Singapore is home to 5 of the world’s 279 unicorn start-ups. This is a testament to the fantastic potential the country offers.
If you want to set up a company of your own in Singapore, then you should definitely contact our business plan experts at Businessplan.org. We are a business plan creation company, and we have worked with numerous Singapore start-ups and scale-ups, helping them draft an informative and entertaining business plan Singapore that is designed to attract the attention of financiers, partners and suppliers.
If you’d like to take advantage of our years of expertise in business plan writing, contact us today.
A haven for new ventures
Ranked in the Top 12 of the best start-up ecosystems in the world, Singapore is considered a paradise for setting-up new ventures. The country possesses the second-best start-up landscape in Asia and has seen the start of thousands of new businesses each year. In 2003, approximately 22,000 start-ups received funding and support. This number reached 43,000 in 2016.
According to the Startup Genome Report, 2017 saw the immigration of over 463 entrepreneurs to the country. This is actually much higher than the global average of 300. Experts believe this could be because of the numerous start-up-friendly initiatives that were being instituted by the Singapore Government at the time.
In 2017, Singapore introduced the Global Innovation Alliance (GIA), which was set-up to foster a culture of innovation and creativity in the country’s start-up landscape. This was one of the primary support structures that enabled the flourishing of the technology, FinTech, enterprise solutions, healthcare, big data, and consumer management industries in the country. Based on reports by the Startup and Global Innovation Alliance of Enterprise Singapore, the overall number of tech start-ups increased from 3400 (2012) to 4000 (2017).
2018 also saw an increase in the number of new ventures – over 189 deals were made during the year. In fact, of all countries, Singapore received the highest share of investments from foreign investors and venture capitalists in the United States (US$7.5 billion). Apart from technology, the other industries that received the highest funding were automobiles, aerospace, ICT, entertainment, and e-commerce.
The second best country to do business in
According to the World Bank’s Ease of Doing Business 2019 list, Singapore ranks #2 out of 190 economies, making it one of the best start-up environments to be in. The country has a corruption rank of #3 out of 190 nations, making it a very professional and safe environment to start a business in.
Additionally, the country has one of the strongest judicial systems in the world and in particular foolproof Intellectual Property Laws. These extremely stringent and business-friendly laws make Singapore an absolute haven for start-ups and in particular, innovative businesses. Tax rates are extremely low (corporate tax rate is 17%, and the income tax rate is 22%) and the Singapore Government provides numerous state-sponsored education & healthcare programs to its residents (both citizens and immigrants). In fact, according to research by Nestpick, Singapore significantly outperforms other start-up hubs like Berlin, Helsinki & San Francisco in the support it offers entrepreneurs.
World-class resources and top talent
Singapore is almost centrally located to both the East and the West. This gives the country extremely high access to monetary, materials, and technology resources. Additionally, Singapore is also part of the Association of Southeast Asian Nations (ASEAN), which gives its entrepreneurs access to extremely low-priced, but top-quality resources.
In addition to this is talent. Being an Asian country, Singapore’s home-grown talent is extremely educated. English is one of the primary languages and this makes it easy for foreign entrepreneurs to do business here. Many Singapore colleges also actively encourage entrepreneurship by sending students on year-long projects to other start-up hubs around the world. At the end of the course, students must return to Singapore and set-up or work for start-ups here.
This has significantly improved the quality of manpower entrepreneurs can get.
Businessplan.org can help you be part of the Singapore business success story
Our team of business plan consultants can sit with you and understand the nuances of your business. We can collate industry-specific and company-specific information, which your potential bankers, partners, and accelerators will want to know about. Our business plan Singapore will be insights-rich and will pose a compelling argument about why your business is worth the investment.
Simply contact us and one of our consultants will contact you as soon as possible about how to support you.