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  • 14 Jul, 2022
  • 4 min read

The Role of PEO in Business Expansion in Singapore

The Role of PEO in Business Expansion in Singapore

There comes a time when any business starts to think about expansion. Whether you are a fledgling business or earning healthy profits and looking to open up new avenues for revenue, international expansion could be your best course of action. 

The best way to enter a foreign market is by working alongside a Professional Employer Organization- or PEO for short.

Also Read: How PEO Services Benefit when Expanding into Singapore »

What is a PEO?

A PEO can be useful for many business and recruitment situations. If you are expanding your company into a new market, they can help you hire local personnel without forming a legal entity in the country. A PEO will handle all of your employer’s responsibilities, such as taxes, human resources, and the payment of wages.

This is a great way to save time and reduce costs. In fact, this is why many businesses choose to use our PEO services when expanding their business into another country. You do not have to worry about spending time on the employment process and worry about complex manpower regulations. You can continue your day-to-day management of the company and let the PEO take care of your personnel in the new country. 

Why are PEO Services needed for Business Expansion in Singapore?

Moving your business to Singapore is an enticing and potentially lucrative prospect. The World Economic Forum Global Competitiveness Report declares Singapore as one of the top economies for sustaining inclusive growth. In fact, Singapore is seen by many companies as a gateway to the Southeast Asian market – an economy that consists of 600 million people spread across 10 countries. More than half of the 37,400 international companies have based their headquarters in Singapore, as it is easy to set up a business in the region.

If you want to minimize risk when moving to the Asia Pacific, you’ll want to hire a PEO that is familiar with the economic infrastructure. 

This is where InCorp can help.

As emerging markets turn their attention to Asia, many businesses are looking to establish a Singapore office. InCorp offers a range of solutions for companies looking for dynamic, reliable, and efficient employees based on the island.

Among a multitude of other services, InCorp offers clients:

  • Business expansion into Singapore without the need to local and legal entity setup
  • Expert business consultancy and support
  • Efficient project roll-out
  • Support in business process change and accounting system implementation
  • Maternity and temporary cover
  • Employee resources restructuring
  • Qualified candidates suited to your business
  • Access to a shared services center

How PEO services can benefit your Business Expansion in Singapore 

If you are thinking about using a PEO consultant to move your business into Singapore, you will receive the following benefits:

  • Easy exploration of a new market: A PEO allows you to explore a new market with consultants familiar with the location and economy.
  • A competitive edge: Expanding your business into Singapore helps you break free from an oversaturated market in your home country. If you are the first business of your type to move to Singapore, you’ll receive a first-mover advantage – allowing you strong brand recognition that will help in the future.
  • Access to talented professionals: International employees are highly sought after thanks to their language skills, diverse backgrounds, and different perspectives. A PEO will have access to some of the brightest and best-suited professionals for your business.

Related Read: ProTalent Recruitment Services in Singapore »

Utilising PEO services is the best business choice for companies looking to hire the right candidates to fulfill their vision in an overseas market. You receive highly flexible terms that are tailored to your own business needs and requirements. You also receive invaluable help with accounting, business consultancy, payroll, and HR.

No matter your business, InCorp’s PEO services can take it to the next level and crack the Singapore market.

FAQs

  • By hiring a PEO consultant, you have the flexibility of not setting up a company in Singapore when expanding your business. Once you have accustomed yourself to the Singapore business environment, we can also help incorporate a legal entity for your future expansion.
  • At InCorp, we offer the following PEO services to benefit your company:
    • Business expansion into Singapore without local entity setup
    • Expert business consultancy and support
    • Efficient project roll-out
    • Support in business process change and accounting system implementation
    • Maternity and temporary cover
    • Employee resources restructuring
    • Qualified candidates suited to your business
    • Access to a shared services center
  • There are numerous things to watch out for when expanding your business into the Southeast Asian market.

    For one, Singapore will have a different set of employment laws than your home country. As such, any business must do enough research into Singapore law and regulations.

    You also need to have a good knowledge of the way the Singapore market works and things like payroll and visa applications.

    This is a lot to take on board, which is why many businesses opt for a PEO consultant to lend their expertise and make the transition seamless and efficient.

  • If you are looking to expand into the Singapore market, you are in luck. Singapore ranks #1 when it comes to the ease of doing business on the international business stage.

Let us help you expand your business with ease in Singapore

Speak to our experts

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About the Author

InCorp Content Team

InCorp's content team includes talented copywriters from our regional group and globally. We contribute informative, thought leadership, and market-trending articles to guide aspiring business entrepreneurs to a higher level across the Asia-Pacific region.

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