Doing business in Asia presents a multitude of opportunities for entrepreneurs because of the numerous industries across the continent. Singapore, in particular, is seeing a spike in the retail and consumer sectors, and the tech industry is also in full swing. Because of the burgeoning industries, Singapore still has one of the most attractive economic environments in which to invest.
Whether you want to invest in companies or you want to start your venture, you have to have a place to do so. However, like many other major cities, rents in Singapore are extremely high and do not even try to get an office close to Marina Boulevard. The rents in these areas are ridiculous. However, savvy entrepreneurs with a desire to start their venture in one of the most lucrative, beautiful cities in the world can do so inexpensively.
Let’s take a look at some useful tips on how to break into the lucrative Asia market through Singapore.
Keep Overhead Low With The Virtual Office
The virtual office is one of the cheapest office space solutions. The way these plans work is you rent the use of meeting and conference rooms and private offices in addition to the usual amenities that come with conventional office space. You do not have to worry about numerous bills every month nor do you have to worry about high overhead. This plan works best for organisations that work remotely, but it can work for any business needing to save money. Servcorp Virtual Office Singapore probably has one of the most flexible plans available in the city.
Another great benefit of the virtual office is that the leasing options are flexible. If let’s say that after doing your research you find there are investment possibilities, then your lease can be modified. On the other hand, if you find there is no market, you do not have to wait until your lease ends, as the leasing terms tend to be as short as one month. Virtual office leasing also allows you to relocate easily without the added expense of transitioning to a physical address, as again, many of the larger companies offer transferable leases.
Use The Virtual Office To Test Markets
Because these leases are transferable, you could essentially spend time in Singapore testing markets (using business analytics) to see whether your venture would work. In the meantime, your business at home would not suffer because video conferencing and other internet capabilities allow you to keep in touch daily with staff members. The virtual office is feasible for an outfit running on a small budget because it allows you to operate from any location while remaining in touch with your business.
Use The Virtual Office To Hire Top Talent
Another way you can use the virtual office to break into the Singapore market is by hiring top talent in the area to help build your expansion efforts. The remote working office opens up an international pool of candidates who are at the top of their game where their professions are concerned. The virtual office, by virtue of an internet connection, can pretty much put you in touch with experts from around the world.
Once you have your major positions in place, it is a matter of you working your mojo until business picks up. As all of your employees become comfortable with business, you can head back home. The plus of the virtual office is that you can reserve meeting and conference rooms globally, so the meeting is wherever you need it to be. Therefore, you can keep in touch with your staff from anywhere on the planet.
Expanding With Purpose
The virtual office allows you to expand your office with purpose. The plan prevents you from spending unneeded resources on a venture that might not pan out. Instead, the mobility of virtual office solutions allows you to travel freely, and more importantly, communicate with your employees from anywhere in the world. Let the virtual office help you expand your business into the exciting, lucrative Singapore market.