Singapore
Financing a Business in Singapore
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I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
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Financing a Business in Singapore
National Government Incentives
The government offers a variety of grants, incentives and support for UK businesses looking to invest in their economy through The Economic Development Board. The support is divided into six broad categories:
- Equipment and Technology
- Business Development
- Innovation, R&D and Intellectual Property
- Headquarters Management
- Industry Development
- Local Government Incentives
The assistance takes the form of grants, tax exemptions, and tax and interest breaks. The grants cover everything from recruitment, equipment to research and development. There are a number of criteria for eligibility, which can be seen at The Economic Development Board website: www.sedb.com
Local Government Incentives
Government agencies, such as The Singapore Film Society, also offer industry specific financial assistance to UK businesses in the form of loans, grants and tax incentives. Details of this can be found at www.business.gov.sg. Non financial assistance is also offered on issues such as premises and training.
Private Finance
Credit from financial institutions is available from a variety of private financial institutions such as HSBC and Barclays, which have branches in the Singapore. As with all commercial loans, a strong business plan and an understanding of the local business conventions and etiquette are important if pursuing this form of finance. A financial centre, Singapore has over 100 foreign banks in various forms.
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Organisations that can assist with Financing a Business
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> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
