Market entry strategy for exports to Singapore

Our local teams plan & execute

If Singapore is a relatively unknown market for you, you need a clear market entry strategy. This may be different from the strategies you have used so far, as the market structure and the competition is different.

Alliance experts helps you to check, adjust or define your market entry strategy, so that your can safely start with a distributor search or with your business development.

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Oppportunities for international business in Singapore

Singapore, a city-state in Southeast Asia, is a global financial hub with a multicultural population of about 5.7 million as of 2023. It is renowned for its economic prowess, strict laws, and efficient urban planning.

With a high GDP per capita of approximately $65,000 USD in 2023, Singapore’s economy is driven by finance, trading, and manufacturing, especially in electronics and biomedical sciences. The port of Singapore is one of the busiest in the world.

What are business opportunities in Singapore?

With an import component of more than 150% of its GDP, Singaporeans use more imported than indigenous products. Singapore is a fine example of a highly regulated but favourable import market. While the Singaporean government puts out latest information supporting international businesses, trade fairs and exhibitions facilitate meaningful business to business interactions.

Singapore’s imports include machinery and equipment, mineral fuels, chemicals, and consumer goods, essential for its trade-dependent economy. The Singapore market in itself may not be so big, but if you have established yourself there, it can serve as a gateway to other Southeast Asian countries and China.

TRAVEL AND TOURISM

Every year, the number of tourists are continually increasing owing to the fact that Singapore is becoming one of the most preferred travel destinations in the world. With its convenient international and domestic forms of transport, it has made tourists possible to grace the country and in turn, results to an increasing demand in services relating to tourism.

FOOD AND BEVERAGES

The culture in Singapore is quite diverse and the number of ethnic races visiting and residing within the country has only made it more complex. The preferences of these people have led to a demand for a variety of cuisines needed to satisfy the people’s palates.

THE HOSPITALITY SECTOR

The government also supports the establishments of hotels and resorts as well as small-scale business like inns, hostels, and guesthouses due to the increased number of tourists. Singapore is very open to business opportunities that will maximize the stay of tourists and will leave them satisfied or craving for more.

INFORMATION TECHNOLOGY

With the emerging trend of IT establishments and its economic success, Singapore has grabbed the opportunity in investing in this new trade. The impressive IT skills and the abundant resource of manpower have made it conducive for IT business opportunities to grow and flourish.

TELECOM INDUSTRY SINGAPORE

Telecom Industry Singapore deals with offering and improving mobile services and technologies in Southeast Asia. They also offer internet connectivity services. With a growing demand in mobile and Internet services, any entrepreneur would be sure to make it out in this kind of business venture.

RETAIL FASHION AND STORES

The people in Singapore are very much into the fashion world making fashion a huge matter in their lives. The same reason why anyone would hit it off if they began a business venture in retail. Opening up a boutique catering to the latest fashion trends would totally be a success.

BEAUTY SALONS AND SPAS

People will always find a way to resort to places that can rejuvenate and relax their bodies and minds. With the amount of people that come in and out of Singapore, a lot of people will be sure to resort to these kinds of business establishments.

EDUCATION

Educational setups are very much welcome in the capital of entrepreneurs. Education, mostly in the form of private specialized industry courses, are a total hit with consumers which has led to education as one of the most successful business industries of today.

Use our support to enter the market in Singapore

We know the market from inside-out

We work with local teams, who already know the market, speak the language and know the business culture.

We are active in over 30 countries

We can compare different markets and as we can help you in all of them, we only favor the market that may work out best for you.

Reduce your risks

We help you avoid cultural misunderstandings, compliance issues, and other risks associated with entering a new market.

Learn from our financial perspective

We help you draft the business case for your market entry, weighing potential turnover and margins against the costs for market entry and further marketing.

Four questions to define your market entry strategy

Entering a new market takes time and resources, so it is good to ensure that Singapore is open for your product and that you have good chances on finding a positioning that really pays off.

Is this the right country?

Why pick Singapore from over 200 countries to choose from? We always like to know your considerations, as other markets may be easier to penetrate.

How big is the market?

Data from market research reports won’t tell you how your specific product will be received. For this you need an expert opinion and comparisons with similar products. Our local teams can do this.

Wat is the market structure?

Where will your end-users typically look for your product or service? Is this online of offline? Who controls these sales channels and how easy is it to find the right positioning? We know the market from inside out.

What are regulations?

Have you checked import duties, taxes and other regulations? Your product may need certifications or a local representative. We can easily check for you.

With the above data we can start building a business case for your market entry and decide on the best target group to approach. From there we can continue for you with a distributor search or with direct business development.

Get your proposal directly

    In , our experienced business developers work for you 20 hours per month for . Every month we report on what we have done and plan actions and deliverables for the next month. This is a 12-month plan where you can scale up and down our efforts when needed.

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    We are active in over 30 countries