SINGAPORE - Media OutReach - 15 May 2019 - Thetop priority for entrepreneurs looking for the right location to launch theirstartup is a business-friendly environment and supportive government policies,according to a recent surveyconducted by CorporateServices.com -- a firm that provides Singapore companysetup and compliance services to international startups and mid-sizedcompanies.

The survey was conducted byinterviewing startup founders from five countries (UK, India, Ukraine, India,Poland, and the US). It found that entrepreneurs seek a location wheregovernment policies encourage innovation and entrepreneurship, withstraightforward regulations that are fair, and easy to follow.

Other priorities, indescending order, included a supportive startup ecosystem, easy access to askilled workforce, compliance with rule of law, attractive tax policies,protections for intellectual property, geographic location, and the overallquality of life.

Interestingly, lower taxes wereranked fifth in the order of importance by the survey respondents. While lowertaxes are important, they were not the primary consideration for founders ofearly stage companies. This is understandable, since startups rarely makeprofits during their early years; hence issues that affect the venture's growthprospects (such as ease of setup and launch, access to a supporting startupecosystem, and rule of law) were given higher importance.

But an interesting patternemerged when the survey data was sliced by age of the respondent's startup.Among entrepreneurs whose startups were older than 4 years, the report found agrowing disillusionment with their current jurisdiction. High tax rates werethe primary complaint in this group. That makes sense since most startups startgenerating profits around the 4-year mark; hence, that's when taxes on profitsand exit payouts become a consideration. For instance, US respondents expressedfrustration with high taxes on capital gains and dividend income on the one handand limited tax deductibility of business losses on the other. Both of thesepolicies discourage entrepreneurship. A second common complaint of this groupwas about the compliance and regulatory burdens startups face as they grow.Regulations related to environmental issues, non-discriminatory hiringpractices, and employee benefits, while laudable in their intent, can putfinancial pressures on startups.

The survey found that manystartup founders are open to the idea of relocating to another country -- anintriguing finding that should warn countries not to take entrepreneurs forgranted in today's globalized economy.

To assess global sentimentabout Singapore's attractiveness as a startup location, the survey assessedSingapore on metrics considered important by entrepreneurs. On all of thesemeasures, Singapore fared well. Located at the heart of some of thefaster-growing markets of the world, Singapore has adopted policies that arevery friendly to entrepreneurs.  CorporateServices.com forecasts that withits educated, English-speaking workforce, extremely favorable tax regime,unrestricted capital flows, low level of corruption, and streamlinedregulation, Singapore will continue to grow as a global startup hub.  Add to this Singapore's high standard ofliving and the virtues of living in a tolerant, polyglot culture in the heartof Asia, and Singapore may be an ideal place for those looking for a new placeto start and grow a new business venture.

While acknowledging thatSingapore may not be for everyone, Pardeep Boparai, the CEO of CorporateServices.com, added that Singapore's constant drive to improve its world-classeducation system and technically skilled workforce will become important assetsin the future. "As emerging technologies based on AI and ML take over routinetasks, there will be immense opportunities for those who can combine creative,technical, and problem-solving skills while serious risks for those who cannot. As a result, strong human skills will be the main determinants of successin future."

ABOUT CORPORATESERVICES.COM

Headquartered in Singapore,CorporateServices.com, empowers global entrepreneurs with information and toolsnecessary to discover Singapore as a destination for launching or relocatingtheir startup venture. The company offers a complete range of companyincorporation, immigration, accounting, tax filing, and compliance services inSingapore. It combines a cutting-edge online platform with an experienced teamof industry veterans to offer high-quality and affordable services to itscustomers. For more information, please visit https://www.corporateservices.com.