Why Singapore is the Best Country in Asia for Business
Asia is an exciting and dynamic part of the world.
So, how best to take advantage of the massive Asian business opportunity? I wish to share my personal Asian story and some lessons that might help you.
Singapore is a tiny island nation of just over 5 million people with a very short history, gaining independence in 1965. Let’s explore why such a small country has become the most important financial centre in Asia and why it’s the only location for your corporate HQ.
Wherever you are located around the world, every entrepreneur should be looking to do business in Asia. It’s such an important market, but by no means easy to do business. Perhaps you’ve already started your Asian journey, in which case I hope this article will help in some way.
We created XAP Corp to assist growth minded entrepreneurs to manage their business in Asia and, hopefully, learn from our experience.
I’ve spent 20 years living and working across China, Hong Kong, Thailand, Malaysia, Singapore and the Philippines.
When I say Asia is ‘exciting’ you can interpret that in several ways, positive and negative. Clearly, I’m optimistic about doing business in Asia, but there are real dangers to navigate. I’m not someone to hold back or gloss over issues that may help you avoid making serious mistakes, wasting time and money.
Until 2012, I was a huge fan of China. I lived in Shanghai for 4 years. What an amazing city, ranking alongside New York, London, Paris, Sydney and, of course, Singapore. I started learning the language. However, it’s unlikely I will ever return to China again. That’s a big statement and I will explain more below.
It’s sad to witness the demise of Hong Kong as a financial centre and the growing tensions with Taiwan and countries around the South China Sea. I have so many great memories of time spent in Hong Kong, doing business, attending trade shows and enjoying the food and nightlife. But, no more.
My first serious trip to Singapore was 2002, when I was invited to speak at a financial services event. Prior to that, Singapore was just a stopover from Sydney to Europe. I recall a delegate approaching me at a break, inviting me to speak in Kuala Lumpur (KL). Ignorantly, I asked where is that! That was to be the beginning of my exploration of Asia and a few months later I was speaking at an event in KL, Malaysia.
Apart from my enthusiasm for travel and exploring, I also like to embrace local culture and history. I immerse myself into the community to experience life outside the usual tourist spots.
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