A study of small retail start-ups in Singapore.

Abstract

The motive for embarking on this project is to provide the aspiring businessman with information necessary and useful in starting a small retail business in Singapore.

This report is written for the businessman who is venturing out on his own for the first time. The discussions in this report will serve to guide him every step of the way, from the idea formation stage to the time the business is ready to be flagged off.

Towards this aim, the discussions in this report will equip the businessman with information about the various legal forms of business, which is a fundamental question that has to be answered. The feasibility of the idea for the business is also addressed, as are other issues such as taxation, accounting, finance, and marketing of the business. In addition, legal information about employment and registration of the business are provided to ensure conformity with laws.

Included are four case studies that will enforce the topics that are discussed in this report. The case studies will provide an invaluable source of practical information for the aspiring businessman.

The report will not be complete without a discussion of franchising, which is becoming a popular and relatively safe alternative to starting a business from scratch. Throughout the report, the authors have adopted the view that the businessman should, as his strategy, concentrate on niching and personalised customer service.