Globalization is the need of hour in today’s business world. Every company wants to have a share in increasing business opportunities due to globalization. They want to create their brand globally. So the question that arises is where to start from i.e., which country is suitable to start a business. What due diligence is required before entering into another country for business.
We have always heard the names of New Zealand, Australia, Singapore as a top 3 destination to start a business. The question that arises is why these countries lead in ease of doing business? What benefits they offer?
From the below infographic we would elicit why Singapore is first choice as compare to other countries to start a business.
The reasons are:
It has top 2 most competitive cities in the world.
It has trade relations with most of the Asian and developed countries.
It leads in logistics, supply chain performance.
Most important thing is least bureaucracy for doing business.
It is the least corrupted nation in the world.
Most transparent country in Asia.
The labour laws are supportive for industries.
Good Infrastructure facility.
Factors that boost the business are mainly the tax system in the country, educated and productive workforce. It has double tax agreements with over 70 countries avoiding double taxation.It has lowest Goods and service tax rate (7%) as compared to global 16.4%.
Anyone planning to start a business Singapore is the best place to start with and take your business to new heights.
Likes: The infographic depicts great facts and sequence of data represented.
Dislike: It would have been more interesting if they mention the total number of foreign companies incorporated in Singapore.
Infographic Source :- www.one-visa.com
Photo credit: shutterstock.com
