NewsCase StudiesEvents

Bright Sparks in Singapore's Economy Shows Promise For Businesses Ahead

Also in the news...

195 Countries - Where to Go First? Introducing Winning Globally Chapter 2

In July, we released the first chapter of Winning Globally

Opportunities for UK oil and gas companies in Africa

UKTIís event in Glasgow during the Commonwealth Games highlighted support available to help UK business access export opportunities in east and west Africa.

Notice to Exporters

Russia added to prohibited destinations for certain licences

Accelerated Market access in sub-Sahara Africa for your company

Meet us in the UK and Germany in September 2014 for a non-binding consultation, InterGest South Africa is heading on a road-show to the UK and Germany.

Tax incentives to promote energy efficient measures

Nelisiwe Magubane, Director of the Department of Energy (DoE) has announced to reduce the primary energy demand of businesses through tax incentives

Bright Sparks in Singapore's Economy Shows Promise For Businesses Ahead

Back to News

Singapore's Prime Minister, Lee Hsien Loong, recently proclaimed "the worst is over for the Singapore economy."

Singapores Company Incorporation Specialist, Rikvin, says time is ripe for entrepreneurs to take advantage of upcoming rebound.

Hyatt, Burger King, IHOP, The Jim Henson Company, LexisNexis, FedEx Corp, Microsoft Corp, CNN, MTV Networks, Trader Joes, Wikipedia Foundation, Sports Illustrated, GE, HP, IBM, Procter & Gamble, United Technologies. What do these well known household names have in common?

A clue lies in this inspirational proverb: When the going gets tough, the tough gets going!

If you answered that they were all born during difficult times, you are absolutely right!

According to feature articles in InsideCRM and, these powerful corporations started during eras of recession. Another recent study published by the Kauffman Foundation found that more than half of the companies on the 2009 Fortune 500 list were launched during a recession or bear market, along with nearly half of the firms on the 2008 Inc list of Americas fastest growing companies.

Therein lies the bright spark in the current global financial crisis which is the worst the world has seen since the Great Depression of the 1920s. If history is to be counted on, the current global crisis will see the birth of great businesses of the future. Businesses which will offer innovative goods & services. Businesses which will transform the status quo.

And with several economies on the rebound, the time is certainly ripe for these start-ups to advance their newly formed businesses to greater heights through incorporation. Incorporation will enable these entities to limit liabilities, create a more favourable perception of their business and most importantly raise funds through stock offerings.

Singapore is one country where entrepreneurs the world over can look forward to an expedited and efficient incorporation process. Non resident entrepreneurs who wish to incorporate their businesses in Singapore can also relocate reasonably easily to take care of their business. For example, entrepreneurs with recognized qualifications from reputable universities can apply for an Employment Pass. Seasoned entrepreneurs who have extensive business experience but no recognized qualifications can apply for the EntrePass (conveniently short for Entrepreneur Pass). The processing of such visas are done within a reasonably short period of time.

Besides ease of incorporation and relocation, newly formed companies can also enjoy a favourable tax regime. Corporate tax rates are marginally lower than personal income tax rates, full tax exemption is granted on the first $100,000 of chargeable income for newly incorporated companies and zero taxes on capital gains in general.

The first Asian economy out of a technical recession, Singapores Prime Minister Lee Hsien Loong recently proclaimed the worst is over for the Singapore economy. Singapores gross domestic product (GDP) expanded by a seasonally adjusted 20.7 per cent in the second quarter compared to the previous quarter. The World Banks Doing Business 2009 Report ranked Singapore as the worlds easiest place to do business, ahead of New Zealand, United States and Singapores closest competitor, Hong Kong.  The EIU Country Forecast published in February 2008 also rated Singapore as having the best business environment in Asia Pacific and third in the world.

With an economic rebound in place, an efficient business climate, friendly policies to encourage entrepreneurship, Singapore is well placed for startups to move ahead of the curve. Maybe, the next big thing will consider also this busy island their birthplace.

20 Cecil Street,
14-01, Equity Plaza,
Singapore 049705.
TEL: (65) 6438 8887

About Rikvin: Singapore Company Registration and Related Corporate Services Under-One-Roof. We provide a fast online service for company incorporation, private limited company formation, business registration and full corporate secretarial services in Singapore. 

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.