Nov 16, 2014 | Sharon Cheong
Many aspiring businesswomen want to establish their start-up in Singapore and for good reasons. Just a few weeks ago, it was announced that Singapore has once again topped the World Bank's survey of the best countries to do business in for the ninth year in a row. This is due to the ease involved in launching a business, getting permits, paying taxes and even closing a business in the ‘Lion City'.
If you're not yet sure about what exact business to open in Singapore, these ideas might help you out.
Information Technology Services
A lot of international IT firms have established their headquarters and/or branches in Singapore. This is due to the growing number of skilled IT professionals available in the country. In addition to its reliable workforce, Singapore's advanced infrastructure adequately provides the needs of IT businesses, making it a very attractive base for IT businesses.
More and more women are becoming involved in the IT industry. If you're one of them, you can try establishing a business that offers various IT consultation services to small- and medium-sized businesses, such as web development, web design and app development.
Singapore is well known as a melting pot of diverse cultures, with its population of almost 5 million people divided among Chinese, Indians, Malays, Caucasians, Eurasians, and Asians from various countries. Roughly 42% of its population is foreigners, making it the sixth nation with the highest ratio of foreign residents in the world. Because of this, knowledge of a foreign language would be a great skill set in this country. You can provide translation services of company documents, corporate websites, product manuals and software applications.
Human Resource Consulting Business
It goes without saying that the increasing number of companies in Singapore means a high demand for seasoned HR consultants. A lot of Singapore-based companies and Asian branches of large multinational corporations seek expert assistance on one of the most complex business challenges: finding, retaining, and rewarding the best employees. Women who have strong credentials in Human Resource Management, Industrial-Organizational Psychology, or other related fields can take advantage of this booming service industry by offering their professional HR consulting services in Singapore.
There is a high demand for competent employees to work for companies operating in Singapore. To help the right employees find the right company to work for and vice versa, you can set up a recruitment or manpower agency in the country. All you need is an office in a strategic location, preferably in the heart of Singapore, and a few qualified staff to interview and match applicants to companies with vacancies.
As a businesswoman who wants to make a lasting business, you should come up with an idea that will not only earn high profit for a year or two, but will actually stand the test of Singaporean time. The best way to achieve this is to study the Singaporean market well and have a thoroughly-reviewed business plan before diving into the market.
Contact Servcorp now to know more about how you can be a successful businesswoman in Singapore.