Business Culture in Singapore: Important Points to Consider

Are you planning to start a business in Singapore? You are on the right track since the state is one of the best business destinations in Asia and the world at large. Recently, the state has outshined the Silicon Valley in providing the best environment for startups. After reading dozens of online publications about how easy it is to do business in Singapore, any entrepreneur will tend to think that it is a bed of roses.

Just like any other place in the world, Singapore has a business culture. The main focus is on business growth, which has earned Singapore a good reputation. Before landing in the Lion state for a business trip, it is better to understand the most important business culture that drives business here. Otherwise, foreign entrepreneurs will only leave disappointed.

Here are the popular business culture that you should know:

Business Etiquette

For those who have been doing business, they know the importance of adhering to business etiquette. Singapore is a multicultural country that has integrated etiquettes from different people like the Malay, Chinese, and Indians. First of all, you need to know who you are dealing with before making an introduction for the first time.

People from the West are often casual, but the Malay and Chinese are very formal and require you to use titles together with their names. How you receive a business card during a business meeting also matters a lot. They expect you to treat it with respect and avoid writing on it in their presence. Otherwise, you are likely to lose the deal.

Language

As you make the preparations to move to Singapore for work or business, it is important to know a few things about the languages used in Singapore. The literacy level in Singapore is high, and almost everyone understands English. It is not polite to assume that the business partners you meet here require an interpreter. So, be comfortable as you converse about business matters with anyone here in English.

Business Incorporation

Surprisingly, Singapore as a state does not allow any business or company to operate without incorporation. As a result, all entrepreneurs in Singapore will only work with you if you have incorporated your business. So, this should be the first thing you do before looking for suppliers and clients. One of the best options to consider is incorporation with One Visa agency because they will take you through the process.

Exchanging Business Cards

As you prepare to attend a business meeting in any part of Singapore, one thing you must never forget are the business cards. It goes beyond being a mere necessity to becoming almost like a ritual. As a matter of fact, you should even know the perfect time to exchange the cards which is immediately after introduction. According to different business associates, entrepreneurs in Singapore take a good business partner to be someone who can treat business card with a lot of respect. After looking at it, you should carefully put it in a card case.

Business Entertainment

It is common for entrepreneurs to entertain their clients, suppliers, and associates. But Singapore has a diverse culture as mentioned earlier. For instance, it is important to respect certain days like Fridays and Sundays, which are dedicated to religious observances by Muslims and Christians. Choose a day when your associates will feel comfortable attending parties and other entertainment functions.

Always be punctual.

Entrepreneurs and other shareholders in this state value punctuality. Being late for a business meeting will often result in cancellation because they will not wait for you. It is better to arrive early and wait as you plan the agenda. In fact, you will rarely wait because a Malay business person will always be punctual.

Conclusion

As a prospective entrepreneur in Singapore, the points above will be of help to you. Keep and follow them at all times to succeed in your business endeavors. They may look simple, but they require better planning and a careful approach. All the best!