Reasons to Choose Singapore as an Entry PointEssay Preview: Reasons to Choose Singapore as an Entry PointReport this essayReasons to choose Singapore as an entry pointThe Singapore economy is primarily supported by activities in the manufacturing and services sectors, which account for a fifth and two-thirds of its output¬¬¬ respectively. Singapore’s natural connectivity to emerging markets in the region, positive labour-employer relations, favourable tax regime, and strong rule of law have all contributed to the country’s competitive advantage, thereby enabling the Singapore economy to grow consistently and rapidly over the past four decadesMarket Value: 2,7 billion sgdTotal 39 outlets1 Pro-business environmentThough ranked 4th in the world for the ease of doing business 6 years ago, the U.S. has slipped to the 8th position in 2017 (World Bank Doing Business Report). By contrast, Singapore ranked 2nd in the world for its pro-business environment, which allows the efficient and transparent functioning of businesses.: Ease of doing business rank:Singapore: 2Malaysia: 24Thailand: 26Brunei: 56Vietnam: 68Indonesia: 72Philippines: 113Cambodia: 135Lao PDR: 141Myanmar: 1712 Legal SystemSingapore’s legal system is based on the English Common Law.  In 1969, trial by jury was abolished as entrusting matters of life and death to 7 laymen was deemed undesirable. Today, Singapore is ranked 9th globally for its rule of law, and is the only Asian state in the top 10 (World Justice Project Rule of Law Index 2016). The U.S., on the other hand, is ranked 18th. [pic 1]3 Tax System[pic 2]4: LocationSingapore is home to the world’s top players across all industries, in part, due to its location in the heart of Southeast Asia and close proximity to surrounding emerging markets. By means of Singapore you can reach out to the other countries in Asia effectively. Air travel is also frequent with daily inbound and outbound flights thus making business operations easier and more convenient. Singapore preserves good international connection with other countries when it comes to trade and industry[pic 3]5 year planWe considered to start entering high GDP countries where as it seems that they have more spending power starting with Singapore[pic 4]YearPlan1-2Entering Singapore targeting both Singaporean and foreigners. There were lots of Europeans and American working in Singapore as it is ASEAN business hub. However, we need to plan the marketing very carefully as they have got completely different mindset and background – Singapore residents consist of many people from several nations and religious. Influencer is somewhat important in ASEAN countriesConsider to procure from countries in ASEAN to reduce labor cost, freight, and taxSales channels via e-commerce – online shopping now is growing and becoming quite popular in ASEAN. Shop aims to provide customers good experience and viewing actual products.3Target to gain significant awareness (brand value/ brand recognition) in Singapore as well as market share and improve economy of scale via online channelsExpand online channel to nearby countries4Start expanding shops to nearby countries begins with Malaysia as the counties and target market is quite similar.5Expand shops to Indonesia and ThailandOpen online shopping for other countries in ASEAN to see the respond and collect valuable data for a possible future expansion with physical shops. [pic 5]
4-5Singapore
Posted by: Dr. G. Mohan on September 25, 2016 11:53 am Comments (0)
” I am sure we will go through this in this short period of time now, since we are so focused on our job in a long term fashion. ” You can see how very much we love the fact that we have a young company that has to develop great processes and technology for an ASEAN market. We know this in time it will become a priority for us as it has been for many years. We expect this to continue, especially in the future when we are not as focused on our jobs at all. It will be nice to see the next generation have the opportunity to participate in our business, as they are getting the chance to share the knowledge and experience. In the meantime, there are so many people from a wide range of continents for ASEAN to come back to, a very important step in our journey towards a healthy and prosperous area. ” «Posted to: Dr. G. Mohan on September 25, 2016 11:57 am Comments (0)
” Good news, Singaporeans, if you are a Malaysian or a resident of the European Union and want to find out more about ASEAN please visit my profile here: www.malaysiannation.org