Tag Archive: business license

Lessons From Building My Seafood Business In Singapore

Businesses are finding many advantages when operating in Singapore. But starting a live seafood farm business in a place not known for its rich water habitat is a different story. Starting a business in a top class country like Singapore with opportunities to work, play and live is the perfect way to get that boost that you and your business needs. Singapore is ranked second for having the best investment potential in the world. It is known to be network ready, as it is considered to have the best business environment worldwide.

Foreigners are welcome, and immigrating to Singapore is one of the simplest processes compared to other countries. Employees are known to be highly motivated and skilled to complete their jobs. The government is always in a proactive mode to prevent crisis’s associated with the world economy and they are proud of their rights and laws.

Registering your business

Registering your business is a simple process and all it takes is a visit to the Bizfile website which is run by the Accounting and Corporate Regularity Authority. Representative offices which wished to be opened by foreign businesses are able to do so by visiting a government agency such as the Monetary Authority of Singapore.

You absolutely need to know licensing approval to run trade involving agriculture, food and live cattle from the relevant authority before embarking on seafood business. In Singapore, the regulatory body for such trade is the Agri-food & Veterinary Authority of Singapore.

Finding a business space

Choices are not limited as there are always businesses that you can choose from. Whether you need one in the heart of the civic district or in a luxurious factory, you are able to obtain any business that you need without being short on premium facilities and infrastructure.

Depending on what kind of business you would like to run, there are many popular choices which prosper in Singapore because of the environment. Here are a few examples that are small but profitable businesses in Singapore:

  1. Agriculture

The land in Singapore may be limited to arable land, but there is always demand for food. The supply seems to be underserved by the agriculture businesses as there is limited number of businesses in agriculture. The costs of running technology for production may be expensive, but the profits are worth it.

  1. Fast food

Singapore has an obsession for fast food (and snacks). Opening up a small business that sells BBQ food, pizza and so on can mean big profits if it’s done correctly. Doing this doesn’t require any certifications of any kind and the capital required is really low, so it’s perfect for anyone who wants to start a small business.

This is especially relevant if you want to divest your seafood business outside farming such as distribution to food providers, kitchens, F&B.

  1. Electronics

While electronics are on the rise all over the world, Singapore’s industry for electronics makes up for 40% of the manufacturing sector. It is best to focus on a narrow selection of electronics as you will put yourself in a competitive competition against other electronic sellers.

Takeaway

As you can see, these are just some of the choices when it comes to starting a business in Singapore. These businesses are small, but profitable ways to get that head start on making huge profits. Singapore is a flexible country with the ideal business environment that any company could wish for. It is so simple to get started as it’s hassle free. With the right foundation and research, you will get a vital headstart in building a thriving seafood business here.