Top Industries To Consider When Forming A Company In Singapo

Planning to expand your company to Singapore?  

You have made the right decision. A very skilled labor force, hassle-free market access, and business-friendly taxes are some benefits of forming a company in Singapore. 

Moreover, Singapore has undoubtedly presented numerous opportunities for world-class entrepreneurs to set up businesses there. This is illustrated by the fact that each year, Singapore receives huge delegations of entrepreneurs in pursuit of having their say in the international market by incorporating a company locally. 

Additionally, as per The World Bank rankings on ease of doing business, Singapore has consistently ranked first in the last 10 years, which exquisitely shows that you're entering a conducive business environment. 

Nevertheless, as it is with incorporating a company anywhere, you cannot run away from the fact that being a newcomer in Singapore is a gamble. You must, therefore, tread carefully and choose the industry sector that best aligns with your business plan. 

This post presents the top five industries you should consider when forming a company in Singapore. 

Image Source 

1. Information Technology (IT) 

For quite some time now, Singapore has been regarded as an IT hub. And rightly so, given its world-class talent and a robust infrastructure geared toward IT development. 

In fact, in its Global Information Technology Report of 2013, the World Economic Forum classified Singapore as network-ready, ranking it first in Asia and second in the world. 

Accordingly, in your Singapore company formation, IT is deservedly one of the top industries you should consider. You could start by offering IT-managed services to other businesses already there. 

These include handling IT infrastructure performance and security to ensure other companies run on a smooth network while being protected from cybersecurity problems. 

Moreover, you can explore more services related to IT support, such as data analytics, cloud backup, and business intelligence. 

Packed with IT talent and massive investment from the government, Singapore is the perfect place to incorporate an IT company. 

Image Source 

2. Advanced Manufacturing 

Next on the list of best industries you can start up is advanced manufacturing. The manufacturing industry in Singapore is on the rise; this is an industry that has accelerated the pace at which technology and automation are adopted. 

Gone are the days of traditional manufacturing; therefore, when incorporating a company in Singapore, base your operations on advanced manufacturing. Advanced manufacturing refers to that new frontier whereby the latest, ultramodern technology like robotics and automation is leveraged. 

In fact, Singapore has secured the second position globally concerning robot density in manufacturing, and it underpins the country's emphasis on automation and advanced technologies in the industry. 

The industry's highly competitive nature would make you retreat at this point. In no time, however, will you be convinced why manufacturing should be started in Singapore, considering the country's developed manufacturing industry and governmental support? 

Besides, manufacturing in Singapore presents key subsectors, from electronics and chemicals to precision engineering and biomedical manufacturing, so you will not run out of business ideas. 

3. Education 

Have you ever wondered why Singapore's education system ranks among the best in the world? The OECD consistently places it at the top, thanks to its standardized curriculum and focus on creative thinking, problem-solving, and project-based learning. These strengths don't just educate—they drive Singapore's economy forward. 

The COVID-19 pandemic changed how learning works, making digital tools essential. This shift has allowed education technology (Edtech) companies to shine. Imagine offering digital classrooms, interactive games, and engaging content to schools, government agencies, and businesses. 

If you're in Edtech, why not take your business to Singapore? With its excellent tech infrastructure and startup-friendly environment, it's the perfect place to grow. Why stay where you are when Singapore could be the key to your next level of success?