Report on Case Study of Tents-R-Us - Case Study

...

4.1 PESTLE analysis

4.1.1 Political Factor

Singapore government has offered different financial allowance policy, such as the lowest tax rate all over the world, tax relief for supporting business owners to invest their business in Singapore. Besides, Singapore set up the various organization for coordination and communication to help businessman to expand their business in Singapore. Therefore, Nature Republic can benefit from it. (An alliance of the Singapore Economic Development Board and Ministry of Manpower, 2015)

Firstly, Singapore EDB is the main Singapore government agency responsible for planning and implementing economic development strategies to enhance Singapore's position as a global business center, and vigorously promote the economic development of Singapore. It is designed for investors and business development in Singapore to develop a variety of value creation and design solutions. (An alliance of the Singapore Economic Development Board and Ministry of Manpower, 2015)

Secondly, SPRING Singapore are devoted to promoting the development of innovative enterprises, and focus on training the competitiveness of SMEs. It provides support for financing, ability and leadership development, technological innovation and market access and other aspects of the business. In addition, it is the national standards and certification bodies. (An alliance of the Singapore Economic Development Board and Ministry of Manpower, 2015)

Thirdly, the Accounting and Corporate Regulatory Authority of Singapore (ACRA) responsible for the registration of commercial organizations and public accountants, and its overall supervision. In addition, it provides information on the new organizational structure, compliance requirements and corporate governance aspects. (An alliance of the Singapore Economic Development Board and Ministry of Manpower, 2015)

Finally, Singapore Enterprise One is a one-stop portal which designed to answer business owners various problems in the enterprise business, operations and growth process. The site content covers a wide range, comprehensive collection of government information and services, industry consulting and other aspects of the information step guide. (An alliance of the Singapore Economic Development Board and Ministry of Manpower, 2015)

4.1.2 Economic Factor

In the recent years, Singapore has become the number one city which got the highest investment potential. Second-ranking in the amount of world trade in addition to the investment made it became the easiest place for doing business among the cities.

According to BERI Report 2015-I (April 2015) ( Appendix 2 ), US-based research institute Business Environment Risk Intelligence (BERI) first-out 50 major investment destination rankings, evaluating a business, political and foreign exchange. With no restrictions on imports repatriation of profits and capital, and the most favorable working conditions and strong diplomatic relations, Singapore is the number one city with the best investment potential. (Singapore Economic Development Board, 2015)

Based on the Globalization Index 2012 (Appendix 3), Singapore is the country of choice for foreign trade and investment behind Hong Kong .Many factors contributed to this achievement which is the country's strategic geographical location connecting to the network with the rest of the world and having a strong legal system as well as attractive tax regime. (Singapore Economic Development Board, 2015)

In 2014, Singapore is the easiest place to carry out according to the World Bank report (Appendix 4) Doing Business in the world of business because of trouble in dealing with administrative matters and freeway. Singapore helps to simplify the incorporation of the company by making it simply and by using the online form registration taxes established the process. In the form of construction permits, new workplace safety and health regulations to be submitted online. (Singapore Economic Development Board, 2015)

4.1.3 Social Factor

Singapore offer stable and skilled labor supply for businessman, so it can reduce businessman’s worries about the lack of labor problems.

With regard to the 2013 IMD World Competitiveness Yearbook (Appendix 5)

, Singapore's workforce is highly motivated; making the region one of the most productive labor force. This ranking is due to the effective corporate policies are in place, countries generally favorable working environment and attractive living conditions. (Singapore Economic Development Board, 2015)

Concerning the Global Competitiveness Report from 2013 to 2014 (Appendix 6) Singapore enjoys better working conditions, the higher productivity because of open channels of communication between employers and employees. (Singapore Economic Development Board, 2015)

4.1.4Technological Factor

In technological dimension, Singapore’s impressive success in economic development has been strongly associated with the country’s huge effort in envelop the Information and Communication (ICT) revolution to business owners to promote the business.

Firstly, Singapore IDA is to establish a culture in Singapore vibrant and competitive Infocomm industry - the industry will continue to develop, deploy, and use of innovative information and communications technology, to attract a lot of foreign investment, and to achieve gross domestic product (GDP) the long-term, sustainable development so as to enhance Singapore's international economic competitiveness.

(Info-communications Development Authority of Singapore, 2015)

Also, The Maritime and Port Authority of Singapore (MPA) committed to playing a vibrant world-class media city, the creative economy and the smooth flow of information society. To promote the film, the development of television, radio, publishing, music, games, animation and interactive digital media industries, MDA spearheaded the development of a number of plans. In addition, it developed a series of clear, sustained and coherent regulatory policies and guidelines, not only for our industry to create a good pro-business environment, but also brought more media options for consumers. (Maritime and Port Authority of Singapore, 2009)

4.1.5 Legal Factor

In the legal aspect, the relationship between economic development and law system has been a major concern for modern society. As well