Asian Spectator

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

Arcelik Has Announced Its Sustainability Targets for 2030

ISTANBUL, June 5, 2020 /PRNewswire-AsiaNet/-- Adopting sustainability as a business model with its "Respecting the World, Respected Worldwide" vision, Arcelik published its 12th Sustainabili...

CBEEX, WeBank and Green Inclusive jointly introduce Blockchain...

BEIJING, June 5, 2020 /PRNewswire-AsiaNet/ -- On June 5th, China Beijing Environment Exchange (CBEEX), WeBank and Green Inclusive jointly announced that they will carry out technical coopera...

Huawei Wins Eight Awards, Including Five Grand Awards, at Inte...

TOKYO, June 5, 2020 /PRNewswire-AsiaNet/ -- The COVID-19 pandemic has brought unprecedented changes to diverse industries and sectors. But it cannot prevent the rapid development of the ICT ...

Key industrial parks unveiled in Hainan free-trade port

HAIKOU, China, June 5, 2020 /Xinhua-AsiaNet/ -- A batch of key industrial parks were unveiled on June 3 in China's island province of Hainan, in an effort to promote the construction of the ...

84000 Launches an Animation Video to Preserve Buddhist Texts

NEW YORK, Jun 5, 2020 - (ACN Newswire) - 84000: Translating the Words of the Buddha, a global non-profit initiative to translate and preserve the Tibetan Buddhist Canon, is launching a vide...

JCB Enables Cross-Border QR-Code Payments with FIS

TOKYO, Jun 5, 2020 - (ACN Newswire) - FIS(TM) (NYSE: FIS), a global leader in financial services technology, today announced that an international payment scheme, JCB, has selected FIS' Pay...

Space-Grade FPGAs from Xilinx Supported by Latest Additions to Teledyne e2v’s Semiconductor Product Portfolio

GRENOBLE, FRANCE - Media OutReach - 5 June 2020 - Teledyne e2v, in cooperation with Xilinx, Inc., has developed cutting-edge solutions that are optimized to work with br...

Space-Grade FPGAs from Xilinx Supported by Latest Additions to Teledyne e2v’s Semiconductor Product Portfolio

GRENOBLE, FRANCE - Media OutReach - 5 June 2020 - Teledyne e2v, in cooperation with Xilinx, Inc., has developed cutting-edge solutions that are optimized to work with br...

84000 Launches an Animation Video to Preserve Buddhist Texts

British actress Joanna Lumley lends voice to save cultural heritage New York City - Media OutReach - June 5, 2020 - 84000: Translating the Words of the Buddha, a global non-profit...

Hublot Launches the BIG BANG e

NYON, Switzerland, June 5, 2020 /PRNewswire-AsiaNet/ -- Hublot first released the Big Bang in 2005. Since then, this model has come to embody Swiss watchmaking in the third millennium. In 20...

NTUC LearningHub Survey: Adaptive Skills Most Critical to Business Viability in Covid-19 Era, According to Employers

SINGAPORE - Media OutReach - 5 June 2020 - Amid the Covid-19 downturn, adaptive skills top the list of workforce competencies that employers in Singapore consider critical t...

Vestas secures service agreements for Senvion turbines across ...

SINGAPORE, June 5, 2020 /PRNewswire-AsiaNet/-- In partnership with global energy producer EDL, Vestas has secured service agreements for the three Australian wind farms of Coober Pedy in Sou...

Vatel Thailand's Alumni Praise the School's Curriculum for Suc...

BANGKOK, Thailand, June 5, 2020, InfoQuest/ AsiaNet/-- The mix of academic courses, practical training, and internships offered by Vatel Thailand's BBA in Hotel Management (international dou...

Amorepacific makes upcycled bench made from empty cosmetic bot...

SEOUL, South Korea, June 5, 2020 /PRNewswire-AsiaNet/ -- In celebration of World Environment Day (June 5), Amorepacific announced its plan to install an upcycled bench made from recycled cos...

Healios Successfully Establishes Proprietary Universal Donor C...

TOKYO, June 5, 2020 /Kyodo JBN-AsiaNet/ -- Healios K.K. (hereinafter "the Company"; TSE: 4593), Japan's leading clinical-stage biotechnology company, has been creating Universal Donor Cells ...

TOYOTA GAZOO Racing to Make Virtual Le Mans Debut

Toyota City, Japan, Jun 5, 2020 - (JCN Newswire) - TOYOTA GAZOO Racing will enter a new challenge next week when the FIA World Endurance Championship (WEC) team takes on an all-star grid in...

Toyota Mobility Foundation to Expand Provision of Connected and Sanitized Mobility Services to support Healthcare in Indonesia in Support of the Fight against COVID-19

JAKARTA, Jun 5, 2020 - (JCN Newswire) - In the fight against COVID-19, each part of society, including governments, private sectors, individual citizens and most notably healthcare workers...

Six Companies Establish R D Joint Venture for Commercial Vehicle Fuel Cell Systems for the Creation of a Hydrogen-based Society in China

Toyota City, Japan, Jun 5, 2020 - (JCN Newswire) - Six companies (listed below) that share a common vision for the widespread use of fuel cell electric vehicles (FCEVs) in China today signe...

Aetina Launches New Edge AI Computer Powered by the NVIDIA Jet...

TAIPEI, June 5, 2020 /PRNewswire-AsiaNet/ -- Aetina Corp., a provider of high-performance GPGPU solutions, announced the new AN110-XNX edge AI computer leveraging the powerful capabilities o...



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion