Singapore is one of the world’s most dynamic economies. Singapore is not only a thriving commercial and industrial center in its own right but also a regional hub and gateway to Southeast Asia’s rapidly growing economies.
Restrictions are few and procedures are well established in a stable system presided over by a pro-business government. Singapore’s industrial, trade, service and financial markets are well developed and highly active, providing a variety of investment opportunities. It particularly
encourages foreign participation in its emerging high-technology industries, trade, and business and financial services areas, offering substantial tax breaks, operating exemptions, and other incentives. The proactive stance of Singapore’s technocratically skilled and staunchly pro-business government and the adaptability of its small- and medium-sized businesses enable it to achieve the following impressive ranking in the world:
Note: The rankings are from the Doing Business 2011 report, covering the period June 2009 through May 2010.
Singapore scored 1st in ranking as the world’s easiest place to do business
Source: Doing Business 2011 Report, World Bank
Singapore scored 1st in ranking as the world leader in foreign trade and investment
Source: The Globalisation Index 2009
Singapore is ranked 1st in the world for having the best protection of intellectual property
Source: The Global Competitiveness Report 2010-2011, World Economic Forum
Singapore is ranked 5th in the world and 1st in Asia for having the least corruption in its economy
Source: IMD World Competitiveness Report 2010
Singapore is ranked 7th in the world and 2nd in Asia for having the most motivated workforce
Source: IMD World Competitiveness Yearbook 2010
For more information on Singapore’s Rankings, please refer to the Economic Development
Board website
GET HELP GETTING STARTED
These local websites are excellent places to visit no matter what stage your start-up is in, be it the planning stage, or taking it to the next level.
- SPRING Singapore (www.spring.gov.sg) This website by the Singapore government is chock full of resources, from guides to success stories and even financing help for start-ups.
- EnterpriseOne (www.business.gov.sg) Under the purview of SPRING Singapore, this invaluable resource for entrepreneurs offers answers and resources to your business-related issues.
- Action Community for Entrepreneurship (www.ace.sg) The “Business Resources” section contains everything you need, from a self-assessment checklist, to how to grow your business, and even free business search engines.
Also check out:
- SGEntrepreneurs (sgentrepreneurs.com), a site that contains interviews with local entrepreneurs on local innovations. They welcome guest contributions so you can be assured of a lively discussion.
- Young Upstarts (www.youngupstarts.com), a website on young social entrepreneurs.
- Singapore Entrepreneurs Network (www.meetup.com/singapore-entrepreneurs-network), an organization that provides networking sessions for entrepreneurs. They organize free meet-ups regularly.
GET SEED MONEY FOR YOUR BIZ
Have a winning idea, but lack the money to make your dream into reality? Here’s where you can get funding.
- Young Entrepreneur Scheme for Start-ups: SPRING Singapore offers a start-up fund for young entrepreneurs that matches S$4 for every S$1 raised outside of the fund, up to S$50,000.
- SPRING Start-up Enterprise Development Scheme: SPRING SEEDS is a funding option co-financed by SPRING and private investors which is equity-based for Singapore start-ups. It matches third-party investments dollar-for-dollar, with a S$1 million cap.
- Business Angel Fund: Another equity-based funding option, SPRING would potentially match dollar-for-dollar investments from one of the three pre-approved business angel funds, up to a cap of S$1.5 million.
Visit www.spring.gov.sg and www.business.gov.sg for more details.
For more information on Singapore’s Rankings, please refer to the Economic Development Board website.
This section includes links to tables (in pdf form) from the “Economic Survey of Singapore” (AES). The AES contains a wide range of quarterly and annual economic statistics.
Trade Information
Public Finance
- Output, Expenditure and National Income
- Economic Outlook
- Employment, Wages and Productivity
- Manufacturing
- Prices
- Construction
- Retail Sales
- Monetary Indicators
- Tourism
- External Trade
- Transport and Communications
- Balance of Payments
- Banking
Singapore Key Statistics – click to view
Government And Statutory Bodies
- News from Singapore Government – Singapore Government on-line portal
- A*STAR-Agency for Science, Technology and Research – Aims to facilitate initiatives to develop a conducive environment, stimulating knowledge creation in, and the enterprising use of science and technology.
- Economic Development Board – The body in charge of recruiting and bringing companies and investments to Singapore.
- EDB Singapore Investment News – News page of EDB website featuring news items related to investment in Singapore.
- International Enterprise Singapore – IE Singapore aims to help Singapore-based enterprises to grow and internationalize.
- IP Academy – IP Academy’s vision is to be the focal point of education and research in the field of intellectual property (IP).
- Jurong Town Corporation – Provides information on JTC’s industrial facilities on infrastructure Jurong Port.
- Maritime and Port Authority – Regulatory body in charge of port and shipping matters. The website furnishes maritime information and MPA’s services.
- Ministry of Trade & Industry Singapore
- Ministry of Trade’s FTA web site
- Ministry of Finance
- Monetary Authority of Singapore – MAS is the central bank of Singapore. It formulates and executes Singapore’s monetary and exchange rate policies.
- MOM (Ministry of Manpower) – MOM has the mission “to develop a globally competitive work force and foster a highly favorable workplace environment…”
- National Computer Board – Responsible for IT policy and development in Singapore.
- Statistics Singapore – Provided by the Singapore Department of Statistics, this website gives a wide array of indicators sorted by either month or year categories.
Associations and not-for-profit organizations
- Association of Small & Medium Enterprises – A comprehensive listing of small and medium
enterprises - The Institute for Policy Studies (Singapore) – Promotes interest in and studies of issues which are of major concern to Singapore and acts as a bridge between the government, the business community, scholars, journalists and other opinion-makers in Singapore.
- Investment Management Association of Singapore – A representative body of investment managers, creating public awareness of, and interest in, the industry.
- National Trade Union Congress (NTUC) – A federation of trade unions in Singapore.
- Singapore Academy of Law – A statutory body whose aims are to promote higher standards of learning and information technology in the legal sector.
- Singapore Furniture Industries Council – Promotes furniture trade, production and manufacturing. Includes over 150 members’ pages with product illustrations.
- Singapore National Employers’ Federation
Business and Regional Organizations
- APEC Business Advisory Council
- ASEAN (Association of Southeast Asian Nations)
- British Chamber of Commerce in Singapore
- Hong Kong Economic & Trade Office
- The Australian Chamber of Commerce, Singapore
- Singapore Chinese Chamber of Commerce and Industry
- Singapore Business Federation (SBF)
- Singapore National Employers Federation (SNEF)
- Singaporean-German Chamber of Industry and Commerce
- U.S.-ASEAN Business Council
- Asia Yellow Web – A business listing for Singapore and Asia Pacific Region
American Organizations in Singapore
- American Association Singapore
- American Women’s Association
- Singapore American School
- US Embassy in Singapore
- US and Foreign Commercial Service Office in Singapore
U.S. Links
- Center for Global Assignments
- Commercial News USA
- The Business Roundtable
- USA ENGAGE Coalition
- U.S. Chamber of Commerce
- U.S. Customs Service
- U.S. Department of Agriculture
- U.S. Department of Commerce
- U.S. Information Agency
- U.S. State Department
- United States House of Representatives
- United States Senate
- U.S. Trade Representative
- Your Link to Congress
- South Carolina Department of Commerce
APEC links
- APEC Secretariat – The official APEC website providing up to date news, information and economic data concerning the forum and its 21 members.
- APEC Business Advisory Council – The ABAC website contributes an independent business perspective on APEC and its work in the business environment.
- APEC Economic and Technical Co-operation (ECOTECH) Clearing House – This site organizes and classifies ECOTECH information to allow the easy exchange of information and contracts.
- BizAPEC website – The BizAPEC homepage provides information regarding government procurement in the APEC economies.
- Finance Ministries Homepage – This website provides a link to all the APEC countries. Members can navigate to the finance ministry homepages of the respective countries for specific information.
Other links
- Statistical Data Locator – Hosted and maintained by one of Singapore’s established universities – Nanyang Technological University (NTU), this library includes all statistical indicators for the world. All the information has been grouped by countries in alphabetical order.
