business environment
Singapore business environment with PEST analysis
Political – Singapore has friendly environment for business. The government makes several organizations to encourage business. The regulation structure of Singapore has Ministry of Trade and Industry (MIT). That makes Singapore become global city of enterprise and innovation. The aim of MIT is making economic growth with creating job opportunities. It can give broad directions for the economy. Their tasks are making economy growth, trade expanding, developing industries and fostering pro-enterprise environment. Singapore joins Free Trade Agreement to other countries. However, Singapore government has set up licensing system that are allowing foreign hypermarket to operate in Singapore. They have strike role and control to protects the retailer. Therefore, Singapore political situation is fairly favorable for the given business in Singapore. For the fashion industry, Singapore is fairly open to meet any Fashion Media. Compared other countries, Singaporean know how to use digital media with phone or tablet. It has no barriers to see digital media in Singapore.
Economic – Singapore economy is developing at a rapid pace. Singapore’s GDP growth and per capital income is very higher than most of the developed countries. Singapore government has supported and invested a lot on the economy these days. They make growth up the hospitality and tourism industry, the services, education, business consultation services, leisure and Fashion. Singapore has lower unemployment rate than other Asian countries. In Singapore, financial services and business services become important more and more for the overall economy. Due to friendly economic system in Singapore, Fashion media become more and more important. Rather than print media, digital media is more focused in Singapore.
Social- Singapore is multi culture country with diversity residents lives here like Chinese Malaysian, Indians and so on. So majority of people in
Political – Singapore has friendly environment for business. The government makes several organizations to encourage business. The regulation structure of Singapore has Ministry of Trade and Industry (MIT). That makes Singapore become global city of enterprise and innovation. The aim of MIT is making economic growth with creating job opportunities. It can give broad directions for the economy. Their tasks are making economy growth, trade expanding, developing industries and fostering pro-enterprise environment. Singapore joins Free Trade Agreement to other countries. However, Singapore government has set up licensing system that are allowing foreign hypermarket to operate in Singapore. They have strike role and control to protects the retailer. Therefore, Singapore political situation is fairly favorable for the given business in Singapore. For the fashion industry, Singapore is fairly open to meet any Fashion Media. Compared other countries, Singaporean know how to use digital media with phone or tablet. It has no barriers to see digital media in Singapore.
Economic – Singapore economy is developing at a rapid pace. Singapore’s GDP growth and per capital income is very higher than most of the developed countries. Singapore government has supported and invested a lot on the economy these days. They make growth up the hospitality and tourism industry, the services, education, business consultation services, leisure and Fashion. Singapore has lower unemployment rate than other Asian countries. In Singapore, financial services and business services become important more and more for the overall economy. Due to friendly economic system in Singapore, Fashion media become more and more important. Rather than print media, digital media is more focused in Singapore.
Social- Singapore is multi culture country with diversity residents lives here like Chinese Malaysian, Indians and so on. So majority of people in