Introduction
In today’s global economy an increasing number of entrepreneurs are leading towards Asia. However, before choosing a particular destination for setting up the business, global entrepreneurs need to carry out comprehensive analysis on the target countries to determine its business environment and the feasibility for the project. The objective of this report is to critically analyse the underlying reasons for the differences in entrepreneurial capacity, particularly in Singapore and India. The analysis report is based on the research of the Global Entrepreneurship Monitor program and international surveys to evaluate the attractiveness of both Singapore and India for global entrepreneurs to operate in, from the perspective of competitiveness. …show more content…
However, the GDP growth rate has declined significantly to 5% in the last 3 years (Department of Economic and Policy Research Reserve Bank of India). The slowdown of the economy has been broad based, as shown in Table 1.0, the figures indicate significant deceleration in manufacturing and construction. The trends of the industry downturn clearly suggested that in short term entrepreneurs need to avoid starting up business which is related to the declining industries. Instead，the growth of the community, social & personal services sector may represent more business …show more content…
Also, low levels of public investment limits crowd in effects which means that it is more difficult for the entrepreneurs to get support from private and corporate investment. More and more evidences indicate the persistence of elevated inflation which will also negatively impact on Indian business environment, such as the currency depreciation, the price and cost inflation. For the Indian labour force, because of the economic growth declining and large numbers of labour supply, the employment scenario will remain weak. To the entrepreneur, the surplus of the labour supply may lead to the lower labour cost.
The same as India, Singapore GDP growth rate had slowed down and declined to 2.9% in 2014. However, different from Indian economic system, 94% of growth in Singapore was driven by external demand. Chart 1.0 shows the GDP and sectoral growth rates in 2014. Even though, finance & insurance sector grew by 7.7%, a step-down from the 12% growth in previous year, it is still the fastest growing sector in Singapore. Compared with India, the growth rates of service sectors in Singapore is much
In today’s global economy an increasing number of entrepreneurs are leading towards Asia. However, before choosing a particular destination for setting up the business, global entrepreneurs need to carry out comprehensive analysis on the target countries to determine its business environment and the feasibility for the project. The objective of this report is to critically analyse the underlying reasons for the differences in entrepreneurial capacity, particularly in Singapore and India. The analysis report is based on the research of the Global Entrepreneurship Monitor program and international surveys to evaluate the attractiveness of both Singapore and India for global entrepreneurs to operate in, from the perspective of competitiveness. …show more content…
However, the GDP growth rate has declined significantly to 5% in the last 3 years (Department of Economic and Policy Research Reserve Bank of India). The slowdown of the economy has been broad based, as shown in Table 1.0, the figures indicate significant deceleration in manufacturing and construction. The trends of the industry downturn clearly suggested that in short term entrepreneurs need to avoid starting up business which is related to the declining industries. Instead，the growth of the community, social & personal services sector may represent more business …show more content…
Also, low levels of public investment limits crowd in effects which means that it is more difficult for the entrepreneurs to get support from private and corporate investment. More and more evidences indicate the persistence of elevated inflation which will also negatively impact on Indian business environment, such as the currency depreciation, the price and cost inflation. For the Indian labour force, because of the economic growth declining and large numbers of labour supply, the employment scenario will remain weak. To the entrepreneur, the surplus of the labour supply may lead to the lower labour cost.
The same as India, Singapore GDP growth rate had slowed down and declined to 2.9% in 2014. However, different from Indian economic system, 94% of growth in Singapore was driven by external demand. Chart 1.0 shows the GDP and sectoral growth rates in 2014. Even though, finance & insurance sector grew by 7.7%, a step-down from the 12% growth in previous year, it is still the fastest growing sector in Singapore. Compared with India, the growth rates of service sectors in Singapore is much