Setting Up Business in Singapore

Topics: Singapore, Entrepreneurship, Southeast Asia Pages: 2 (635 words) Published: December 9, 2012
Setting up Business in Singapore
Singapore, the Lion City, is one of the five busiest ports in the world and has the fastest-growing economy in the world as of the year 2010. Ever since the country’s early days as a British trading post, traders all around the world had been setting up businesses and had been successful even since then. Singapore as we know it today is still one of the best places to start and establish companies or businesses. Considering that, many entrepreneurs would love to have a chance to set up business in Singapore. The main question now is how do you do so? Any business minded person would tell you that you would need a very good idea in order for it to grow into a large corporation. If you already have that, you are now ready to register yourself as an entrepreneur in Singapore. For the simplest way of setting up business in Singapore, you can contact one from five of the business advisors in Singapore. The five business advisors are the Association of Small and Medium Enterprises, Singapore Chinese Chamber of Commerce and Industry, Singapore Indian Chamber of Commerce and Industry, Singapore Malay Chamber of Commerce and Industry and lastly, Singapore Manufacturers’ Federation. These five business advisors are known as Enterprise Development Centres (EDCs) and are part if the EnterpriseOne network. The EDCs were set up to provide business advices on their specific enterprises and can help you learn more about laws, regulations, licenses, permits and Government assistance for your business. Next, with your business being based in Singapore, surely you will need an office situated in Singapore. With that in mind, most people would look straight at the Central Business District in Singapore which is the designated area for most business and enterprises. But do bear in mind that the price for an office unit there does not come cheap. Prime real estate for an office in Singapore would be near the Mass Rapid Transit (MRT) Stations since...
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