Doing business in Singapore - Important daily Information Ranked as one of most powerfully and pro-business economy of the world,

Singapore is on its way to becoming an impressive state with a huge capital. The statistics shows that the most profitable business in Singapore is in the area of airlines, telecommunications, motor & vehicles and power generation. A 2013 research shows that Singapore Airlines system wide passenger carriage grew 8.6% year-on-year against a 3.1% and if we take a look at the mobile phone penetration rate research, we can notice a grew of 155.5%. At the end of 2011, there were a total of 5,275 licensed electrical workers in Singapore and majority of these licensed workers were electricians (62.4% or 3,293 electricians) and technicians (21.7% or 1,143 technicians). It is very important to carefully choose your business area having in count: number of that business owners, taxes and ways you can raise your project funds. The best local businesses in Singapore are household equipment, supermarkets and sundry shops. If your skills doesnt match with those, as well you can you can choose between thrift-shop, transport and bio technology. The legal status in order to start a local business in Singapore (owned by one person) are booked by the following: owner has unlimited liability, can sue or be sued in individuals own name, can also be sued in business

name, can own property in individuals name and owner personally liable for debts and losses of business. On the next level, to create a company in Singapore include the fallowing (from an legal point): a separate legal entity from its members and directors, members have limited liability, can sue or be sued in companys name, can own property in companys name, members not personally liable for debts and losses of company. The most business expectation in Singapore is in the area of Accommodation & Food Services, Transport & Storage and in small percent we could check Recreation, Community & Personal Services. After we count our business opportunities we are going to the next step: registering! In Singapore business are registered at ACRA (Accounting and Corporate Regulatory Authority). Running a company means that you need employees and one of the first rules is to set a specific objectives for them. Also you must have a strategy, and for better performance, a place for an office (you can buy or rent one). Once you shot that you must sell your stuff there are a lot of marketing techniques and psychological books about customers needs.

Ciobanasu Andrei