Singapore’s Business World
Are you considering setting up a business or working in a foreign country? If so, Singapore could be your best choice. This city-state is still basking in the glory of its decade-long first rank in the World Bank’s list of the easiest places to do business in the world. The rankings consider several factors that have an impact on businesses, such as setting up a firm, paying taxes, implementing contracts, and obtaining construction approvals. The island state has jobs available in various sectors that expats can take up and that avail high quality of life with security guaranteed as well as low crime levels. However, the ease of doing business comes with strict regulations and requirements for registering a company. As such, you will need to make use of experts such as incorporation agents – Visa Express, who will ensure your business registration without a hitch. The following are pertinent things to know about Singapore while doing business or seeking jobs there:
Reliable sources of information on business and job opportunities
For people looking for jobs in Singapore from other countries, the Internet is the number one resource due to its numerous job databases and career websites. Other than the most popular global search engines, there are some exclusive Singapore sites specifically for expats. Some of the sites include:
ContactSingapore: This has put in place an excellent job portal and provides vital links to some other career sites in Singapore.
Jobsin Singapore: This website has job advertisements for expats, giving quite significant connections for positions all over the island state suitable for English speakers.
GuideMeSingapore: This is a website that is very resourceful for entrepreneurs who may want to set up operations in Singapore. It provides crucial up-to-date information on business incorporation and moving to Singapore. It has an industry guide that gives information tailored to specific industries.
Foreign manpower: This website, which is under the Ministry of Manpower, is a reliable resource for expat spouses seeking jobs in Singapore. The site provides a catalogue of registered employment agencies in Singapore.
Additionally, your nearest Singapore Overseas Mission can come in handy in giving you a list of the multinationals doing business in Singapore.
Social customs
Immigrants from non-Muslim countries may soon realize that some customs and cultural habits differ from those of their home countries. The business environment has in a big way embraced informal wear, but the particular employer and the industry determine that.
For greetings, on most occasions, a smile and a nod will be enough, more so between members of the opposite sex. Men can shake hands with fellow men, but for religious reasons, women prefer not to be touched by men. It is advisable to avoid physical contact, as others may see it as a lack of respect for the person.
Key business relationship pillars
Respect: Having some regard for others and for yourself is an all-encompassing principle in relationships with others in Singapore. You must be cautious never to offend someone else, which can happen in the simplest of acts, like by showing anger or by having a junior staff member handle a matter that concerns a senior employee.
Hierarchy: You always need to be sure of the status, position, and appropriate title of the person with whom you are dealing. Except when they ask you to do it differently, you should use both title and surname to address people. It is very crucial to be aware of the central position that hierarchy and formality occupy in business relations.
Dining and giving gifts to reinforce business contacts
As a way of building strong personal relationships that are quite significant between business associates in Singapore, you should mostly accept dinner invitations. While the Chinese like to go out to dine on most occasions, people from other backgrounds prefer hosting people at their homes. Giving small gifts during dinners is an ethical norm, but you need to be in the know of the person’s customs as dictated by their religion and culture as you pick a gift for them. Overall, giving business gifts should be avoided, so as not to seem like a bribe. However, reciprocating invitations where possible is acceptable.