Finding it difficult to do your own business? Singapore has been ranked number one as the most uncomplicated for running of businesses. Click to find out more.

Ease of Doing Business

Globally, the smallest country in Asia has been ranked number one as the most uncomplicated and the most non-troublesome one for running business in 2012. This report has been obtained from the yearly ranking by the World Bank and also the International Finance Corporation. Entrepreneurs who need to run a business need to take into consideration the level of ease of doing it while complying with the laws and regulations. Up to date, economies are ranked based on their level of ease of doing business. 185 economies are taken into account in the assessment by World Bank and International Finance Corporation.

According to World Economic Forum in its published Technology Report, “Singapore is Asia’s most “network ready” country.” Even though Singapore does not make itself a way to the top in all aspects of ranking topics like starting a business, investors’ protection, insolvency resolved, property registration, trading across borders, dealing with construction permit, getting electricity, enforcing contracts, getting credit, paying of taxes; it is world’s number one, all-inclusively. All the mentioned topic rankings were the selected elements for fair comparison. Nevertheless, it’s no longer news for fellow economists for the said country has been on top since year 2006. Having the best environment for the local entrepreneurs of Singapore to run a business in the country, it is regarded as having the best performance and the most business friendly in comparison to other countries despite number one placing for certain areas. New Zealand is first in the aspect of protecting investors, whereby Japan gets top placing in resolving insolvency.

Learn What Are The Guidelines For Foreigners to Start a Business in Singapore here

Regional economists have taken their turns on commenting the yearly ranking done by World Bank and International Finance Corporation. According to Straits Times, Song Seng Wun, an economist and CEO from CIMB had given his point of view, saying “Singapore has made the ease of doing business into an art.” Deriving from the same source, Chief Executive of Singapore Business Federation had opinioned  that among the factors that attract business doing are actually the great networking, excellent workforce, respectful laws, and of course intellectual property.

Another comment would be from Dahlia Khalifa, a senior economist of World Bank who has quoted this in BBC News back in 2011, “It is simply the most efficient place from which to import and export. For example, you only need four documents to export and import goods, which remains global best practice.” Her statement had shown tremendous ease for running a firm in Singapore. Despite all the indicators utilized for the assessment of the selected economies, cost of running business is not one included.

Along with that, according to Global Dynamism Index, Singapore ranks number one as the country for running a firm or a business as well. The indicators include Labor and Human Capital, Business Operating Environment, Financing Environment, as well as Science and Technology and Economics and Growth.

Want to Start business in Singapore
Want to Start business in Singapore

Find out Why You Should Set Up a Company in Singapore here

Contact Paul and Hype Page Co. for a FREE consultation on how you do business in Singapore.

We provide the following services:

  1. Instant online company registration in Singapore
  2. International tax planning and advice
  3. Professional company secretary service at affordable price

Paul Hype Page & Co. is an ACRA-certified business adviser. Our team of seasoned professional can help you set up a company in Singapore very quickly and easily following all legal entities, and offer you sound advice on how to make it successful too.

In addition to business registration, we’ll also guide you how to:

  1. Write a business plan – Learn how to write a compelling business plan by accessing our sample business plans, or other helpful market research information
  2. Perform market research – Understand your business market, learn how it can enhance your business growth, good business opportunities, corporate tax in Singapore and how to properly conduct a market research for your business.
  3. Legal issues for small business – If you are thinking about registration of company in Singapore, then you really need a lawyer. In addition, you will learn why legal counseling is very important part of any business.
  4. Manage your finances – We’ll offer you FREE resources and information to help you fully understand all financial concepts and teach you how to perform basic accounting tasks like budgeting, bookkeeping, financial analysis, among others.