Mr. Jacobsen Essay

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Global Edge Comparison Paper David Jacobsen Indiana Wesleyan University MBAO256 ADM 508 James Kraai

Singapore is an emerging global powerhouse on the economic market. As part of the East Asia & Pacific Region, Singapore is leading the charge as one of the most successful companies in a very successful region. Out of 183 countries, several factors are used to evaluate and rank them on aspects of business ease and cost. Singapore ranks number one over all with their lowest individual category being 15 out of 183 for Registering Property. (doingbusiness.org) Upon reviewing doingbusiness.org, one of the referenced sites from Global Edge, it appears that one of the key factors to Singapore’s success is the ease and low cost of starting a business. The process can be done in an average of three days when the average for East Asian & Pacific is a staggering thirty seven, This appears to be caused in part by having only three procedures to register a business when other countries in the region have seven. The cost of registering a business in Singapore is much lower than the average for the region as well. The Region averages 22.7% of income per capita, Singapore slides in at .7% making it much more profitable from the get go. This is not to say that the Region is not successful, Singapore is in a trade bloc with ten other Asian countries called ASEAN. It shares the block with countries like Thailand who is ranked 13th out of the 183 countries by doing business yet has a Gross Domestic Product only a fraction of the size of Singapore’s. In fact when you compare the companies in the Trade Bloc, Singapore is by far the largest as far as GDP and has one of the smaller population sizes. In his blog about leading the way in emerging markets, Evan Pennisi describes what some of the key factors to Singapore’s success are. He states “Singapore was able to position itself as one of the fastest growing economies in the world for one key reason.” He talks about the assistance programs provided to Singapore based companies to encourage expansion. He also talks about the ease of exporting and importing overseas. The factors caused a 9.7 percent increase in…