Among all the Asian countries Singapore is the most preferred place for setting up business. People all around the world wants to do business here. Setting up cinema business in Singapore is quite a good opportunity due to various factors. Singapore has the best environment, facilities and infrastructure available to enjoy a good quality of life in a stable political climate. In addition to this the world class transportation and healthcare system as well as variety of entertainment adds a cherry on the cake. However, the most prominent feature is the political stability that acts a strengthening force for the nation to attract the investors from all around the globe.
Best business environment: According to BERI’s survey, it is top in Labour Force Evaluation and ranks third in the world for least corruption in the economy and is ranked the first as the city with best investment potential. Its conducive environment for business compared to the rest of the Asian countries and the world makes it an easy place for setting up a business in combination to the flexible business policy. The private and government owned business have to face the same set of policies.
Rankings: It is the 2nd most competitive city in the world and ranks first for best logistics supply chain performance. It has Asia’s Best intellectual property protection in addition to being the most transparent country in Asia. It has the best labour supply that is highly motivated.
Best Country To Work: Singapore’s working conditions are the best in the region according to the Competitiveness Report 2011 as employees are assured to be taken care of due to the presence of effective labour policies. In addition to this there is an educated workforce that is highly productive as well as highly motivated. The availability of flexible work visa is another advantage. Earlier Singapore had a great dependence on the foreign manpower but now it is trying its level best to get rid of this dependency by undertaking investment in this sphere also.
Factors that encourage undertakings: The hassle free way of handling administrative matters is the main attraction in addition to comfortable tax system with no such thing ad capital gains, dividend, estate, death or inheritance taxes. The foreign exchange controls and foreign ownership restrictions are absent. The personal income tax ranging from 0 percent to 20 percent is flexible with effective corporate tax rates ranging from 8.5 percent to 17 percent. The company incorporation is easy and takes a day or two. Double tax is avoided.
As a sum up it can be said that Singapore is an ideal place to set up businesses by new entrepreneurs and equally good for those who want to expand their business. It not only provide opportunities to set up and expand business but also give learners to join good companies to take training and gain experience. These companies sometimes recruit these trainers in the same company. All the credit goes to the political stability that ensures investors of safe investment.