A well thought out business plan helps improve your chances of getting a Singapore EntrePass. Learn about the importance of a good Entrepass Visa Business Plan.

Singapore Entrepass Visa Business

 

Importance of Business Plan for EntrePass Application

Preparing a good business plan for your EntrePass is one of the most crucial aspects in getting your EntrePass Visa. A well thought out business plan helps improve your chances of getting a Singapore EntrePass. Your business venture must demonstrate in a one-year period that it will meet the employment requirement of a minimum number of Singaporean or local workers; and with a Total Business Spending (TBS) of (Conditions below are extracted from MOM website):

P1 Pass – 8 local employees; TBS S$300,000

P2 Pass – 4 local employees; TBS S$150,000

Q1 Pass – 2 local employees; TBS S$100,000

Subsequent renewals of the EntrePass are contingent on meeting these requirements and on achieving the goals and objectives in the business plan. It is, therefore, extremely crucial to have a well drafted business plan.

Format of Business Plan

1. Introduction

II. Description of the business

III. Products and Production

IV. Objectives

V. Marketing Strategy

2. Products

I. Description

II. Features and Designs

III. Our Services

IV. Research and development

3. Market Research and Analysis

I. Target market

II. Market survey

III. Industry analysis

IV. Competition

4. Marketing Strategy

I. Sales and distribution

II. Advertising and public relations

III. Positioning

5. Management

I. Management team

II. Company Organization Chart

6. Financial Strategy

I. Financial Projections

II. Operations and Investments Assumptions for 5 years

III. Financial Outcome 7. Annex

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