Bright Sparks in Singapore’s Economy shows Promise for Businesses Ahead

Aug. 24, 2009 - PRLog -- Hyatt, Burger King, IHOP, The Jim Henson Company, LexisNexis, FedEx Corp, Microsoft Corp, CNN, MTV Networks, Trader Joe’s, 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 times of recession, you are absolutely right!

According to feature articles in InsideCRM and CNNMoney.com, 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 America’s 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 believed, 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 startups to advance their newly formed businesses to greater heights through incorporation. Incorporation will enable these entities to limit liability, enhance 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 granted on the first $100,000 of chargeable income for newly incorporated companies and zero taxes on capital gains in general.  http://www.rikvin.com/Singapore-Corporate-Tax-Rates.html

The first Asian economy out of a technical recession, Singapore’s Prime Minister Lee Hsien Loong recently proclaimed “the worst is over for the Singapore economy.” Singapore’s gross domestic product (GDP) expanded by a seasonally adjusted 20.7 per cent in the second quarter compared to the previous quarter. The World Bank’s Doing Business 2009 Report ranked Singapore as the world’s easiest place to do business, ahead of New Zealand, United States and Singapore’s 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 a strong 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.


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. If you have any questions, feel free to visit our website or contact us at http://www.rikvin.com

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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.