With the state’s support of making Singapore an IT friendly environment for more than a decade now, has helped prepare the country in the processing of IT products and services, build the necessary infrastructure and technology aimed to promote further the quality and standard of living among Singapore’s populace.

If you’re an IT professional then you’re in luck as the country is in demand of professionals such as: programmers, broadcasting operations professionals, computer operations professionals and network managers, computer system operators, computer animators, multimedia programmers, network and systems administrators, network systems and data communications analysts, software engineers, system programmers, telecommunications engineers, system designers and analysts, Telecommunication service supervisors and professionals, telecommunications installers and services, electrical linemen and production technicians are among a few of Singapore jobs that is hiring.

Plus, Singapore’s multinational companies is continually bringing in more developments and new technologies that will add another level up the skill meter for the professional or will add more opportunities to the industry in general.

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• The ease of doing business
A high ranking on the ease of doing business index means that the regulatory environment is conducive to the operation of a business. Also, the Singapore economy is based on free enterprise, with no restrictions on foreign ownership of business.

• Employing workers
Employing workers measures the flexibility of labour laws among various countries over the world. It examines the difficulty of hiring a new worker, rigidity in terms of working hours and problems faced while dismissing a worker.

• Trading across borders
This ease of trading across borders criteria includes documentation, time and cost to export and import. Singapore is also ranked first for having the most open economy for international trade and investment by the World Economic Forum.

• Taxation

Singapore is business friendly and an ideal country for company formation because of the ease with which taxes can be filed and paid, and also its low corporate tax rates relative to many developed economies in the world. From Year of Assessment 2010 onwards, the corporate tax rate of Singapore is to be 17%, just 0.5% higher than that of Hong Kong – Singapore’s closest competitor in the Asia region.

However, the effective tax rate is significantly lower than most of the countries, if not all the countries, in the region. With a further reduction in the 1% from 18% to 17% in corporate tax rate, it will enhance Singapore’s appeal to attract investment dollars.

In addition, the Singapore Government has been actively trying to encourage the growth of a knowledge-based economy and have in place a myriad of tax incentives – thereby lowering the effective tax rates of companies. Some of the tax incentives schemes handed out by the Economic Development Board of Singapore (EDB) include:

• Pioneer Industries
The EDB may grant pioneer incentive to an approved industry which is not being carried on in Singapore on a scale adequate to the economic needs of Singapore, and for which there are favourable prospects for development. The tax relief period of a pioneer enterprise shall commence on its production day and shall continue for such period, not exceeding 15 years.

• Pioneer Service Companies
Similar to the Pioneer Industries scheme, it is granted to services which fall under the list of ‘qualifying activities’. These include any engineering or technical services such as laboratory, consultancy and research and development activities, computer-based information and other computer related services, the development or production of any industrial design and such other services or activities as may be prescribed.

• Development & Expansion Incentive
A tax relief period of up to 10 years as the Minister may determine not exceeding 5 years for each period may be granted upon approval to the manufacturing or increased manufacturing of any product from any industry that would be of economic benefit to Singapore.

• Enhanced Tax Deduction for Research & Development (R&D) expenses
Where a taxpayer directly carries out qualifying R&D activities in Singapore, he can claim a further deduction of 50% of the amount of qualifying R&D expenses incurred. This is in addition to the 100% deduction he can claim for such expenditure.

In essence, with efficient planning and structuring, Singapore is a great jurisdiction for company incorporation, as it results in a higher net profit after tax. The efficient economy, good infrastructure, skilled workforce and sound economic policies in place has certainly boosted Singapore’s reputation an ideal jurisdiction to do business in.

When you are transporting cargo, getting the right documentation ready makes a big difference in cutting costs. If you have the documentation before hand, then you can request lower costing from a forwarder. Also, the fines associated with wrong documentation can be very high.

While some freight companies might offer a low quote for comprehensive services like packaging, transportation and storage, it is also possible that you may secure a lower rate if you hire different companies to handle some services individually. It is important to be aware of the industry rates of individual services if you want to get the best possible rate. Looking at various competitors and getting a number of quotes before choosing the final company will also help.

The rate of shipping cargo varies according to the type of cargo that needs to be freighted. Rates are fairly low if the cargo fits into containers, as this makes it possible to ship it along with other goods.

If you are looking to ship heavy machinery or industrial equipment, you will have to pay more for transport. Goods that require special care like perishables, ensure that precautions are taken in terms of packaging, to prevent spoilage or breaking. This is one area where quality standards cannot be dropped for a better price as it could compromise your entire shipment.

Minimise risk and maximise opportunity, this is the best combination you should be thinking about when looking at the business world. But the question is how to start this when times are so tough, prices are so high and entrants to the market will see just what kind of a mounting test they will have to pit their wits against. But there is a solution to this problem for now and it is called the virtual office, which has made its appearance for quite a few years now. Consider this, a virtual office has most of all the benefits that are associated with an real office, especially when you consider the start up environment.

This is the great thing about the virtual office and there should be more education among young people who wish to start their own business. With the internet taking over the physical floor as a place where goods can be sold to consumers, and the average consumer becoming more and more internet savvy, the argument for the virtual office has just been augmented. This is why you should get a virtual office in Singapore and this is your key to success in the long run. Sure, after a few years, when the economy has stabilised, your business has grown, you are more grounded, you can think about opening up a real office space to gain much more corporate value in the business world.