Essay, Pages 2 (432 words)
To start a business in Singapore needs certain approvals from various concerned authorities. The authorities, which are involved in such approvals, are mentioned below:- Documents required for entry to start Business in Singapore For each nonresident of Singapore, the following documents will be required: A copy of passport, proof of residential address, and a bank reference letter. For each shareholder/director who is a resident of Singapore, a copy of the ID is required.
If it is a foreign citizen, a copy of passport is required.
For corporate entity shareholders: A Copy of the Certificate of Incorporation of the parent company A copy of the document showing the registered address and directors of the parent company New Business Approving Authority Company incorporation agent will prepare and submit all the necessary documentation for registering. To register a company in Singapore, necessary information needs to be submitted to the registrar of companies (ACRA): The Company can then get approved within one day.
Preliminary Marketing Plan (Mineral Skin care products)
- Port selection Our business operations will be within the Singapore territory and our port of origin and port of destination will be Singapore.
- Mode selection For the distribution of products various modes are used in Singapore. They include: Railroads, Air carriers, Ocean carriers, and Motor carriers. Each mode has its advantages and disadvantages with reference to Singapore business environment.
These are discussed below. Majority of distribution channels in Singapore are similar to that of Europe. We shall distribute our skin care products through Retailers.
a. Type and number of retail stores: We shall include 100 retailers in our retail network in which large and medium retailers will be given preference. b. Retail markups for products in each type of retail store: Our retail markup will be 30% for each type of store so that price remains stable.
Methods of operation for each type (cash/credit): Our method will be on cash basis for medium size retailers in which we shall offer 2% cash discount and we shall offer 50% credit and 50% advance terms of sales to large retailers. d. Scale of operation for each type (small/large): For small retailers we shall fix a target of 25 pieces of our products in a month and for large retailers we shall fix a target of 50 pieces per month.
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Business In Singapore for beginners. (2020, Jun 01). Retrieved from https://studymoose.com/business-in-singapore-for-beginners-essay