Singapore Business Environmental Analysis

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Singapore Business Environmental Analysis

Economic Environment
The economic trends of a country are very influential over business operations. Singapore’s economy has shown continued resilience against most global crisis, and has rebounded with a record 13 percent growth from the recent global economy downturn. This rebound not only showed that the Singapore’s forward-looking and alert damage-control measures are always in place and working, it also shows the potential of even bigger growth in Asia’s top leading financial market. Singapore’s economic policies on national income, labour market, productivity, investment commitment, and external trade are also consistently fine-tuning their plans to adjust to a dynamic and changing Asian market in order to meet business growth.

Social Environment
Successful enterprises often leverage on developed and integrated social communities. The education level of a people, work habits, culture, leisure activities and the role of women in the workforce will affect the viability of a business entity. Singapore boasts one of the most competitive and well-educated workforces in the world, and it is renowned for its efficiency. Its multi-cultural and cosmopolitan society makes it extremely easy for international and regional investors to set up headquarters in Singapore as a starting point to reach into the Asian market. The Singapore government’s “Live, work and play” motto ensures that a variety of businesses can successfully operate in their chosen industries, with the right human resource boosting business growth.

Technological Environment
Singapore, described as a “plug and play” nation, is ranked number three as the most wired national in the world, and the most wired in Asia, with a broadband network that reached 99 per cent of the population. Singapore’s electronics, pharmaceutical and biomedical industries are the leading boomers of both national and regional economy. In the past few years, the country has...
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