Singapore was ranked the most competitive country worldwide in 2010. Singapore is a better place to do business. There are also more opportunities for higher profits and a happier business environment. But, you can also say the same thing about any country or city anywhere in the world.
What makes Singapore different from other cities? What makes Singapore unique and more friendly for business? What are the reasons that multinationals have moved their headquarters to this island covering 710 kilometers? What makes it attractive to start business in Singapore?
1. Singapore is a modern metropolis
Singapore is a dynamic city that's easy to live and work in. With a population of approximately 5 million people, Singapore has international connections and is multi-cultural. It is also considered one of the best cities in the world for knowledge-driven industries.
2. It's good for business
This city has evolved from a small business trading center to become one of the top financial hubs in the world over the past four decades. It is home to international air and sea hubs and has one of the most open economies in trade and investment.
3. Consistency in Governance
The city has clear guidelines for business and investment. Every business has access to an impartial, competent judicial system. It is clear and committed to enhancing anti-corruption policies and corporate governance.
4. Setup is easy
It is easy and attractive to start a business in Singapore because of its excellent infrastructure and highly skilled labor force. It is not uncommon for entrepreneurs to set up large businesses in Singapore within one week.
Companies and businesses that seek to establish themselves in this city-state can easily tap into the diverse and deep capital markets, while at the same time getting access to the many local and international professional services and financial institutions that are based here.