7 things you MUST know BEFORE doing business in Singapore

This is what you should know if you are moving to Singapore for work or to start your own business. As a Singapore expat, you'll face weird things which are normal in Singapore but crazy in the USA or Europe. Sooo, prepare your business cards and enjoy! 😄

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LET'S BE FRIENDS:

WHAT IS THIS VIDEO ABOUT:
You'll learn what to expect from Singaporeans when working with them. Some points are SO unusual from the Western perspective. But you need to know them dealing with Singaporeans! Singapore is the easiest country to do business in. But there are important things you need to know before you come here for business:

-Singaporeans love business cards! I think the habit of exchanging business cards is in the East Asian culture in general. I used not to carry business cards with me at all due to the nature of my business. We are in EdTech business. So in this industry its always easier to just add each other on Instagram, compared to carrying around a pile of business cards. Moreover looking at someone's Instagram you know much quicker what type of food your new friend likes and how amazing his life is:)

-Singaporeans are tough negotiators. You have to challenge your partner, ESPECIALLY price-wise. There is 0 chance that you just agree straight away on the price! I think it's also similar to a bargaining culture in the Middle East. You have to always negotiate the price!
I also asked my entrepreneur friends in Singapore and they mentioned that It's EXTREMELY difficult to sell value in Singapore. So if are doing business here you need to be prepared for this one.

-Dress code. As it's hot in Singapore! If you go to the CBD business district you'll see a lot of people wearing suits, that's cruel. Singapore is a business city, so suits and ties are the norm. It increases a cost of living in Singapore:) Try not to be too sweaty, otherwise your business meeting will end earlier than you expected. But now I start to understand why Singaporeans like aircons so much.

-In Singapore you are expected to eat together, to share a meal with your business partners. I love it! Actually, there is some studies that having food together builds trust!

Though business BREAKFASTS are rare in Singapore (comparing to Europe), you can expect long LUNCH with your business partners to evolve your relationships. But not only lunch. Dinner as well! Be prepared to drink if needed (not with Malay partners though). So be ready for a drink or two.

-Business never stops. The very common thing is to have a business meeting on a weekend. So usual in Singapore. Also, It's normal to Whatsapp business-related questions late in the evening. It feels like there is no time limit for when it's not appropriate anymore to whatsapp about work. In Europe, if you write someone at 7pm for work-related questions, you will be ignored for sure! And if you try to reach someone in August, not in the evening, anytime - you will miserably fail! Especially in the south of Europe. Much more relaxed working culture!

-Never underestimate the value of saving or losing ‘face’. It's a big thing in Singapore - recognizing someone who is the boss and giving him much more attention than to the others. Of course, it's not only in Singapore like this but in Western culture. Even sometimes subordinates can challenge their boss. Still, the boss will not like it, esp if it's in front of the crowd, but in Singapore it's 100% no!

- In general, in Singapore etiquette is sharply distinguished between formal and informal settings. Thus, business etiquette is very different from the general one. In a work-related environment Singaporeans are more calm, official and, from a Western perspective, even shy. However, Singaporeans are much more open and chill with friends when not at work.

So if you are a foreigner and you want to do business in Singapore, just learn the rules of how things are done here, be patient if making a deal takes time and just makan and have a good chat and laugh with your Singaporean partners:)

....
Hey! I'm Max. This channel is for those who like to know more about life in Singapore, social media marketing trends globally, and to hear the stories of lifestyle business owners from all over the world. Two videos per week – Monday and Thursday 5 pm Singapore time. Enjoy! 😘

*Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partner websites. The content is accurate as of the posting date but may not be accurate in the future.

#MaxinAsia

[stevenhuangwenguang]

Blue pen because many times when it is photocopied, the photocopy will be in black and white. With that, it's easy to distinguish the original copy, and the photocopied copy.

[shanmugaretnam]

Thank you for promoting Singapore as a favorable business hub. You have clearly embraced the diverse culture and business ethics of a small nation. All the best !

[PearlF]

Blue colour pen is because it is easier to see that it is actually signed by an ink pen. Black ink when scanned is difficult to differentiate whether it is really signed or just an image. That was what was explained to me.

[saberkok]

Management: I want everything cheap cheap. Head count also cheap.

End of the day, management: why is it not working?

[arseniykucherenko]

The paradox is that the foreigners who come in Singapore and work even harder then Singaporeans by itself which is hurt their employees who suffer from long working hours and cutted weekends. I wish Singapore has stronger law protection from work overtime abuse.

[MaxChernov]

prepare your business card and enjoy the video! 😎

[xilverxurfer]

Good vid. Informative and damn funny. Subscribed.

[Meuncakd]

The SHADE to the KTV issue! I love it!

[dryden]

I love how Max sneak in some inside jokes in his videos

[Mannouhana]

Where I work, we have moved on to digital signature. There was an exercise last year where every department has to list all their processes that require fellow staff or customers to sign documents and indicate which are the ones that we can adopt digital signature. Anyone who claimed certain documents need wet ink signature has to write down their explanations and explained to our top management. In the end we realised all documents can be digitally signed and customers are perfectly fine with it.

[bennyxcai]

No one should watch your videos... while eating, cos I almost choked! Love your humour and ALL THE SHADES LOL!

[KG-zqjf]

Singapore is a good place to live if you earn a decent salary or your business is lucrative and booming. Cost of living might appear to be low, but the demanding lifestyle and social engagement makes you spend $ all the time. Bit by bit, it slowly and subconciously erodes the fund in the bank account.

[leoemnuel]

Somehow, your tactics of getting people to like, subscribe, and click the notification button WORKS. Other Youtubers can NOT get me to do that. On a serious note, you are spot on regarding doing business in Singapore.

[jachinoy]

I love sg!
Really the best for entrepreneurs ;)

[EndrisAbu]

Bro thank give information and l'm from Ethiopia and i need to go to Singapore what you should me please give some info and way that come to there

[Sadoshka]

Cool video. You forgot to mention that a lot of SME’s still use check books for payments 🤷‍♂️ and don’t forget to cross the check 😂

[ryansofly]

Gosh, watching your video gave me flashbacks! I ran away from the corporate madness in Singapore for the laid back green countryside of Australia. Good to be reminded of what I left behind though! Love your perspective... Spot on.

[syarifahnajwa]

Love ur videos. Very entertaining😂 🤣 Thank you Max. U make my day😊

[Aneesya_SG_England_IrenaRynn]

I’ am Singaporean people’s. The more I listened and watching your video made me laugh all the time. The way your reactions and explanations!🤣🤣🤣🤣🤣👍🏻 keep it up! (Very easy in business. No money no talk! 🤣🤣🤣

[Magiskter]

Nobody treats namecards with absolute sanctity than the Japanese. "Mistreat" their namecards at your business' peril! 😭