ENGAGING NEW BUSINESSES IN SINGAPORE
Entrepreneurs are the walls of economy; they are the driving force that motivates groups, organization or individuals to succeed. People who are engage in business are the leader and the key people who can make the country grow. They are the one who do not be contented in employment but they are the one who create opportunities for themselves and expand greatly to help people. In today’s modern economy Entrepreneurs do not rely mainly on their own country but they are also engage in International trade which is definitely a great way to expand their businesses. Viable businesses can be greatly encouraged to engage in exchanging foreign trades. In Asian countries like Singapore where business are allowed to enter if they can give a good opportunity between nations.
In fact Singapore government agencies that are assigned in International trade and other Singaporean private companies are visiting countries all over the world to look for specific business that they dwell on to partnership or direct selling. Sometimes they learn in other countries the trade secrets of such a business, KILUS foundation a multi-purpose cooperative in Pasig, City Philippines where there is a group of women who create different products made from tetra-pack of juice drinks. This tetra pack instead of throwing it out on the garbage are collected by members and clean it up and sewn by their members to become a raw material for making bags, slippers and other useful products that they can sell to the market from various countries especially Singapore who is one of their biggest customers. This tetra pack business has been doing well for the last few years in Singapore and expected to continue for the next few years. This means than engaging in entrepreneurship as long as it is legal is highly obtainable in this country.
Since Singapore is a newly industrialized country, businesses like foreign language and English language, Information Technology or tutorial may be a good one to offer they are highly allowing the use of advance technology in their country to be adopted. Also products that are associated in Agribusiness may be viable. Singapore although newly industrialized they have a large land that caters to agricultural production of rice and other crops. Business like fertilizer, machineries, and others may also be a good product to be presented here. According to Global Agricultural Information Network the country is also in need of livestock like Pigs, Chicken, Meat, Fish fresh fruit and vegetables, snacks and beverages and more due to the high demand of food service business who are now booming in most Cities and Provincial villages in Singapore. Although food exports are highly critical to export since it requires intensive quality of livestock and inspection that would take days upon delivery but the opportunity to export this products is high.
Due to the ever increasing demand of food businesses in Singapore the service food chain business is highly a very profitable business in this country, food stalls continues to grow in streets and walkways. Giant Corporation like McDonald, KFC, Pizza hut etc. are highly enjoying the market demand and it is expected to grow as much as the public continues to patronize such food businesses.
A foreign nationality is open to explore to a new venture in this country, there are various process that an entrepreneurs might need to follow to be legally successful in their endeavor. There are no particular products that you can offer in this country, if you have a business that you think can be viable you should first register to the International Enterprise in Singapore to gather a market research or feasibility study guide. This is an advantage on Entrepreneur’s part to be successful. You may also seek the following agencies for consultation before engaging in your business trade.
· The Association of Small and Medium Enterprise (ASME) they are the one who provide assistance to the new budding entrepreneurs who are willing to learn and succeed.
· The Singapore Manufacturer’s Federation (SMa) they provide consultancy services for overall business improvement.
· Or you may visit directly this website for the complete list.
http://www.business.gov.sg/ http://www.business.gov.sg/EN/ContactBusinessConsultant
The openings of International Trade have given full access to individual and organization to take part of the opportunities of businesses all over the world. Entrepreneurs should take advantage of these opportunities if they have a viable business to introduce. The best thing to do is try to create a business today even in modesty then expand gradually and be successful. Who knows? A small business today can be an icon for tomorrow if given an attention and harness in full potential.
Credit:ivythesis.typepad.com
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