When searching for the best place to begin your business journey, it’s important to choose a location that best aligns with your company’s mission and values.
With so many countries now becoming more adaptive to business environments, this decision can be a difficult one to make. Some key factors to consider should include a strong economy, access to trade, societal structure and values, and of course great investment opportunities.
Fortunately for business owners, Singapore offers all those key aspects and more. Unarguably, Singapore’s collectivist societal structure is what helps make it one of the best countries to do business in.
Collectivism stresses the importance of looking for and working towards business needs and goals. As of 2021, Singapore’s economy is valued at over $390 billion, but throughout 2022, experts expect that number to climb to an estimated $425 billion.
Electronics are Singapore’s largest market sector and most exported group product. As a matter of fact, over 45% of all Singaporean exports are electronics. This is a huge plus for technology companies, especially those looking for a better environment to sell new and innovative technologies; after all, our world has become dependent on technological advancements and services.
Increasingly, more companies are moving to, or starting up, a business in the APAC (Asia Pacific). Economies throughout the region are booming, particularly within Singapore, and now is a great time to take advantage of the thriving infrastructure, large domestic economy, and wide, low-cost labor availability.