Asian Spectator

Business & Finance Asia

New survey finds "Business-friendly policies" tops the wish list of global entrepreneurs

  • Written by CorporateServices.com

SINGAPORE - Media OutReach - 15 May 2019 - The top priority for entrepreneurs looking for the right location to launch their startup is a business-friendly environment and supportive government policies, according to a recent survey conducted by CorporateServices.com -- a firm that provides Singapore company setup and compliance services to international startups and mid-sized companies. [1][2]

New survey finds "Business-friendly policies" tops the wish list of global entrepreneurs

 

The survey was conducted by interviewing startup founders from five countries (UK, India, Ukraine, India, Poland, and the US). It found that entrepreneurs seek a location where government policies encourage innovation and entrepreneurship, with straightforward regulations that are fair, and easy to follow.

 

Other priorities, in descending order, included a supportive startup ecosystem, easy access to a skilled workforce, compliance with rule of law, attractive tax policies, protections for intellectual property, geographic location, and the overall quality of life.

 

Interestingly, lower taxes were ranked fifth in the order of importance by the survey respondents. While lower taxes are important, they were not the primary consideration for founders of early stage companies. This is understandable, since startups rarely make profits during their early years; hence issues that affect the venture's growth prospects (such as ease of setup and launch, access to a supporting startup ecosystem, and rule of law) were given higher importance.

 

But an interesting pattern emerged when the survey data was sliced by age of the respondent's startup. Among entrepreneurs whose startups were older than 4 years, the report found a growing disillusionment with their current jurisdiction. High tax rates were the primary complaint in this group. That makes sense since most startups start generating profits around the 4-year mark; hence, that's when taxes on profits and exit payouts become a consideration. For instance, US respondents expressed frustration with high taxes on capital gains and dividend income on the one hand and limited tax deductibility of business losses on the other. Both of these policies discourage entrepreneurship. A second common complaint of this group was about the compliance and regulatory burdens startups face as they grow. Regulations related to environmental issues, non-discriminatory hiring practices, and employee benefits, while laudable in their intent, can put financial pressures on startups.

 

The survey found that many startup founders are open to the idea of relocating to another country -- an intriguing finding that should warn countries not to take entrepreneurs for granted in today's globalized economy.

 

To assess global sentiment about Singapore's attractiveness as a startup location, the survey assessed Singapore on metrics considered important by entrepreneurs. On all of these measures, Singapore fared well. Located at the heart of some of the faster-growing markets of the world, Singapore has adopted policies that are very friendly to entrepreneurs.  CorporateServices.com forecasts that with its educated, English-speaking workforce, extremely favorable tax regime, unrestricted capital flows, low level of corruption, and streamlined regulation, Singapore will continue to grow as a global startup hub.  Add to this Singapore's high standard of living and the virtues of living in a tolerant, polyglot culture in the heart of Asia, and Singapore may be an ideal place for those looking for a new place to start and grow a new business venture.

 

While acknowledging that Singapore may not be for everyone, Pardeep Boparai, the CEO of CorporateServices.com, added that Singapore's constant drive to improve its world-class education system and technically skilled workforce will become important assets in the future. "As emerging technologies based on AI and ML take over routine tasks, there will be immense opportunities for those who can combine creative, technical, and problem-solving skills while serious risks for those who can not. As a result, strong human skills will be the main determinants of success in future." [3]

References

  1. ^ Media OutReach (www.media-outreach.com)
  2. ^ recent survey (www.corporateservices.com)
  3. ^ CorporateServices.com (corporateservices.com)

Authors: CorporateServices.com

Read more http://www.media-outreach.com/release.php/View/8745#Contact

Neymar Jr. x Diesel Fragrances Launch Spirit of the Brave

PARIS, May 19, 2019, /PRNewswire-AsiaNet/-- Diesel Fragrances and Neymar Jr., accompanied by Buzzman, give us their definition of bravery for the launch of a new fragrance, "Spirit of the Br...

IBS Software to Acquire Canadian Aviation Software Major

MONTREAL, May 19, 2019 /PRNewswire-AsiaNet/ -- The deal will make IBS Software one of the foremost technology providers in the global aviation industry Travel technology specialist IBS Softw...

UST Global Announces CEO Retirement and Succession Plan

ALISO VIEJO, California, May 18, 2019 /PRNewswire-AsiaNet/ -- - Krishna Sudheendra Named CEO of UST Global - Sajan Pillai Announces Plan to Retire as CEO; Will Remain on Board of DirectorsU...

CATL's ESS Solutions and LFP Technology Take Centre Stage at e...

MUNICH, May 18, 2019 /PRNewswire-AsiaNet/-- Contemporary Amperex Technology Ltd. (CATL), a global leader in lithium-ion power battery R&D and manufacturing, brought its industry-leading ...

GCL System Unveils Cast-Mono Products to Welcome Grid-Parity Era

MUNICH, May 17, 2019 /PRNewswire-AsiaNet/ -- China's Photovoltaic (PV) industry is embracing market-oriented operations as the country's new policy introduced last year has resulted in a new...

KPS Capital Partners Sells Genesis Attachments To NPK Construc...

NEW YORK, May 17, 2019 /PRNewswire-AsiaNet/ -- -- KPS Will Continue To Own Crenlo GlobalKPS Capital Partners ("KPS") announced today it has sold Genesis Attachments, LLC ("Genesis") to NPK C...

Panda Asian Food Festival kicks off in Chengdu

CHENGDU, China, May 17, 2019 /PRNewswire-AsiaNet/ -- The Chengdu Panda Asian Food Festival kicked off on May 15 in Chengdu, capital of southwest China's Sichuan province, attracting foodies ...

Salonpas® Named the World's No. 1 OTC Topical Analgesic Patch Brand*1 for the Third Consecutive Year

Based on research by Euromonitor International (UK),*2 a leading global market research company TOKYO, JAPAN - Media OutReach - 17 May 2019 - Hisamitsu Pharmace...

CGPV Forest City Celebrates Its Third Anniversary, Prepares fo...

JOHOR BAHRU, Malaysia, May 17, 2019 /PRNewswire-AsiaNet/ -- Country Garden Pacificview Sdn. Bhd. (CGPV) Forest City prepares to welcome more international residents as it celebrates its thir...

Dow showcases new sustainable solutions at Chinaplas 2019

GUANGZHOU, China, May 17, 2019 /PRNewswire-AsiaNet/ -- Dow seeks collaboration with partners through innovation and best practicesLeveraging its new brand platform - Seek Together(TM) - Dow ...

Marlin Equity Partners Announces Strategic Minority Investment...

LOS ANGELES and LONDON, May 17, 2019 /PRNewswire-AsiaNet/ -- Marlin Equity Partners, a global investment firm, today announced that Blackstone's (NYSE: BX) Strategic Capital Group has made a...

Movico enters into a strategic alliance with People Story fo...

SEOUL, South Korea, May 17, 2019 /PRNewswire-Asianet/ -- - Supplying the webtoons and web novels of People & Story to Vinatoon and jointly advancing into the Vietnamese marketMovico (www...

Geylang Serai Dazzles with close to 50 Light Installations for Hari Raya Light Up 2019

Hari Raya Light Up 2019: Main arch along Changi RoadCelebrating Our Kampung Spirit @HariRayaLightUpSGKampung spirit brought to life with light displays of cultural icons and community events...

MultiTech Celebrates the Opening of a New Japan Office with On...

TOKYO and MOUNDS VIEW, Minnesota, May 17, 2019 /PRNewswire-AsiaNet/ -- -- Expands International Presence with New Office Serving Japan and South KoreaMulti-Tech Systems, Inc. ( https://www...

Inspired By Art: LG SIGNATURE's Advanced Technologies Lead The...

SEOUL, South Korea, May 16, 2019 /PRNewswire-AsiaNet/ -- New Digital Campaign Highlights the Industry-leading Core Technologies at the Centre of LG's Ultra-premium Appliance Lineup LG SIGNAT...

inCruises International Expands its Global Footprint by Partne...

SAN JUAN, Puerto Rico, May 17, 2019 /PRNewswire-AsiaNet/ -- -- Partnering with Trust My Travel is a natural progression of the company's strategy to align with key strategic players around t...

Inovio and QIAGEN Establish Collaboration to Develop Diagnosti...

PLYMOUTH MEETING, Pa., GERMANTOWN, Md., HILDEN, Germany, May 17, 2019 /PRNewswire-AsiaNet/ --Liquid biopsy-based Precision Medicine test to guide patient selection for Inovio's VGX-3100 Inov...

Ctrip's joint report with COTRI on 2018 Chinese High-End Outbo...

SHANGHAI, May 17, 2019 /PRNewswire-AsiaNet/ -- Offering new insight into the high-end customized travel market Ctrip, the largest online travel agent in Asia, and the China Outbound Tourism ...

CleverTap Bolsters C-Suite Leadership as it Accelerates Produc...

SUNNYVALE, California, May 17, 2019 /PRNewswire-AsiaNet/ -- -- Former Perion & Dailyhunt Exec Vishal Anand Joins as Chief Product Officer while co-founder Anand Jain officially takes Chi...