Advantages For Business In Singapore In The Coming Years
Singapore is already ranked as one of the best places to do business
. With a vibrant economy that is expected to grow considerably over the next few years, Singapore has a few advantages in the coming years that will ensure the country remains one of the most important business hubs even though a large part of the world is going through an economic recession.
One of the biggest advantages for Singapore is its location. Located in the heart of Asia, Singapore is close to all the action and especially to the two Asian giants of China and India. Both those nations are growing at an incredible rate and thanks to the high population in each of those countries; the number of entrepreneurs coming out of them are also extremely high. The advantage that Singapore has over here is that it enjoys a credible reputation amongst business owners in China and India and at the same time has strong bilateral relations with both those nations. On the other hand, even though China and India are the fastest growing economies in the world with a large domestic market, none of those two nations are particularly known for being entrepreneur friendly. It is expected that many of the innovative companies or entrepreneurs from China and India will seriously look at starting a company in Singapore to take advantage of Singapores pro-business laws and excellent infrastructure. Rise of Asia and particularly China and India is sure to benefit Singapore in the long run as more entrepreneurs from those nations continue to invest in Singapore.
While the world battles economic recession and increases taxes in order to fund public expenditure projects, Singapore continues to lower taxes and allows foreign entrepreneurs to easily setup a company in the country. This would continue to be an advantage for Singapore in the coming years and many business owners are seriously considering offshore locations where they feel they have a better chance of success. Already the idea of setting up offshore companies was gaining ground and thanks to the worldwide recession, many companies have had to seriously look at alternate locations to remain in business. Singapore has been seen as one such location where the economy is stable, taxes are low and at the same time the country practices some of the most business friendly laws you can come across anywhere in the world.
Singapore being ranked once again in the number one position for overall ease of doing business by the World Bank in the 2012 edition of the Doing Business reports has also added to the number of advantages Singapore has over the next few years. By retaining its number one position, Singapore is being seen as a credible destination and one where laws are practical and geared for high economic growth.