7 things you MUST know BEFORE doing business in Singapore
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- Опубліковано 20 жов 2024
- 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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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:)
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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
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.
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 !
🙏
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.
I see now! Thanks for explanation!
Thanks. What about using red, green or another color then? It seems weird to state that there is only black and blue ink :-)
@@NemanjaGrujicic Just culture I guess. Red ink is used for marking homework or for highlighting mistakes... so no bueno for contracts (looks weird). Green is just silly... what are we? Irish? :)
@@NemanjaGrujicic Probably because not all colours show up well after copying.
@@NemanjaGrujicic red ink is typically used for corrections like teachers marking student’s paper…green is a little unconventional and flamboyant I guess? That’s my personal take. It’s kinda like next to black, blue is the next most “formal” and common color used for official writing
prepare your business card and enjoy the video! 😎
Somehow, your tactics of getting people to like, subscribe, and click the notification button WORKS. Other UA-camrs can NOT get me to do that. On a serious note, you are spot on regarding doing business in Singapore.
Haha thank you brother!
Management: I want everything cheap cheap. Head count also cheap.
End of the day, management: why is it not working?
😅
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.
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.
No one should watch your videos... while eating, cos I almost choked! Love your humour and ALL THE SHADES LOL!
sorry! lol
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.
Oh, that’s a great observation! I never articulated it this way, but it’s 100% true. Singapore is not super expensive but you are pushed to spend more, exactly.!
The SHADE to the KTV issue! I love it!
I can't stop joking about it sorry 😅
I love how Max sneak in some inside jokes in his videos
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! 🤣🤣🤣
Good vid. Informative and damn funny. Subscribed.
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 😂
O wow 😮
Still I guess less than in the US haha
The sad pitiful face when bargaining LOL!
Indeed, I think business cards are a waste of paper, money and space. There are apps for you to scan the physical name cards and store the information digitally. It's just much more convenient to share an e-copy of the signature imo. :P
Exactly!
Max! Cool video 🚀
Thanks buddy!
Now that you mention Southern Europe, man do I miss my friends over there. It's all Covid-19 that's to blame but anyway, yes you're right! Work-life balance over there is so much better compared to ours, over here. It's no surprise that Singapore ranks no. 2 globally for toxic work culture.
Can you imagine working for a boss who only wants to be agreed, even when his/her decision is doomed to fail? Last I researched, only 22 listed business companies in Singapore meet the globally-accepted standards for workplace diversity. Only 22 out of thousands! Absurd, right?
Love ur videos. Very entertaining😂 🤣 Thank you Max. U make my day😊
😊🤙
I love sg!
Really the best for entrepreneurs ;)
Nobody treats namecards with absolute sanctity than the Japanese. "Mistreat" their namecards at your business' peril! 😭
Japan is receive with both hand then read it then store it in a card hold, if you dont read it, the Japanese will take it as you are disrespecting them, then if you just stuff it into your pocket they take it as a red flag and start to avoid you
Thats the trick, there are no businesses in japan. Just corrupt magnates keeping each other in check.
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.
Dresscode: habit imported from white man, which our upcoming Asian business ppl copy to be as “professional” and “business-like” so as not to be viewed as “barbarians/ third-world” wearing banana leaves.
Having said that - a number of MNCs & stat board has tone down and allowed ‘smart casual’ - suits only if meeting govt officials or very formal events/meetings.
I notice that the banks/financial institutions are still wearing suits at lunch meetings with clients, I guess in business, if you do not dress to impress, your clients might think you are not “successful”; as such, should they work with you?🤔.
Good point
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
So what sort of business works well in Singapore 🇸🇬.
The ktv and malay SHADE. Like damn its a real problem and it really has to stop but WOW did not expect that
Hello, thanks firstly for creating this video. I just wanted to ask for advice. I want to study in Singapore and simultaneously start my own business while studying. Is it hard to do that or do Singaporean government allow to implement those actions for internationalstudents. Maybe, if my business gets well i can drop out of university and expanding my company.
What is your perspectives on this?
What business are you looking upto?
😊😊😊
That's cool
That's cool!!!
😊😊😊😊
Why use negative titles to bait for views? It doesn’t sit well with me (Singaporean) even though I haven’t watch the video yet.
UA-cam rules
Funny thumbnail.. really nailed
I love your videos. Infos are spot on and very entertaining as well. I've subbed last month. Maybe one day we could talk about the most haunted place in Singapore. Hahaha...just kidding 😂
haha with pleasure!
2:33 the haggling is a cultural thing, not a necessity in business. again, like business cards, it's an east Asian thing. some business cultures use it some don't, there is good and bad in it.
germans see endless arguing about the price as a waste of time that hurts business from being efficient and sees haggling as a rude lie about the price that was first agreed upon.
germans have the shortest working hours in the world but also use that time efficiently.
American always add n add not one pricing or reduced discounts for Long term business
When you're about to buy something, typical Singapore sellers will always ask you "What's your budget?" Now why should I reveal them that? If I'm dumb enough to tell them I got $900, they would say that's the right price & they will take it while actually their first intention is to sell you $650. Never let them take the advantage. 🤣😁😁😁
Sounds like bargaining 101!
@@phoebetan7519 u got there right LMAO
Asking for your budget simply helps the seller to narrow down on the relevant products within your price range (which certainly can vary significantly for many products and services). There is no problem in negotiating on the price later on if you want to, or walk away saying the price is too high for product/services of this quality or work.
@@bobguardl know.
Some people just prefer to be secretive about their budget so the ball stays in their court. If sellers know you cant afford 1000 dollars type of item, they arent going to talk about a 1200 dollars item. From the seller pov, they want to recommend you something that fits your budget n meets your requirements. Yet many buyers in sg companies love to bargain n try to squeeze the prices as much as they can(so they also appear productive to their bosses) unless you have a product that gives a perceived strong value , be prepared to haggle ahead:D
why we must not work with sigaporens
Buisness cards the only place i have seen them are like the doctors just on the desk
Haha
i use blue pen too, to distinguish original vs xerox copies. and o.m.g MBS Karen is in the list as well hahahahah
😁😂
Bargaining for a better price only works in some circumstances… and to certain people… don’t try that all the time. Esp. easy to be blacklisted. Some business owners store owners are known to turn down business to certain group of people. Taxis uncles are also known to drive straight to police stations and report people whom refuse to pay full fares, since all are metered… 😂
Actually I was joking lol. In a day-to-day life you don’t need to negotiate any price haha
@@MaxChernov u can’t joke, I’m darn pissed! Ok now let’s go drink… 😶
Yes please!
I hate printing and collecting business cards. Would love it if Poken had caught on here.
You mean that platform for events?
@@MaxChernov I actually find that giving out namecards can be very wasteful, because how many people these days would really follow-up with an email after an event or networking session?
Anyway there are no off-line events any more lol
@@MaxChernov there are some upcoming, but they are by invitations though
Fortune = Honda Vezel 🤣🤣 the most sarc but somewhat accurate description.
😁
Love your jokes 👍
😍
Hahaha it’s quite funny!
Went from disliking the video cause of the thumbnail clickbait to liking and subscribing lol 😆
Coming from SG. Funny and some good points. SG work environment are till clinging to the old British practices / Old Family Run practices and slowly evolving.
1. Getting best value for the $$ is common sense, especially there is a comparable product/services. Unless your product has a unique USP.
2. Yap. Work Dress Code in SG needs more organizations to be open minded, especially functions that are not front desk. Its the skills they pay for and not what he/she wear. Really make no sense why business expect employees to be in business ie shirt pants bah bah bah when 100% of the time they are in the back office environment.
3. Blue pen is a business practice to prevent but more and more are accepting digital signatures.
pro tip if u hear us sg’reans start cursing u, u know u f**ked up
Ok...made me laugh with your Karen joke. Decided to like n subscribe u. 加油（you should understand this）
You are fuckin Gooood! 💪😂
Singaporeans are South East Asians not East Asians
Fyi, some Malay drink alcohol. Not all Malay is a Muslim.
Correct. Thank you!
yeah but you can’t expect him to say that on youtube 😅 sensitive topic
If u not fast business go other vendor
Always free to get out if it’s too tough :)
Yes! Ang mos are too weak in negotiations 😁
There was the Possibility the person he hated working with in Singapore , was not even a Singaporean! Just like the people we do not like in the United States were not even Americans! Which Countries have got No Prisons or Institute of Mental Health?! Stop generalizing & be more Specific! 🌍 🐕
Why SG is a good place to do business -
Ha ha … 2 hours later (1:04)
Was click baited into the video and then thought he must surely be putting on that accent 😅. Btw what is this SHADE inside joke a bunch of peeps here have commented on?
Which one? 🤔
@@MaxChernov the SHADES jokes? I see it mentioned in some comments and I'm insatiably curious. Great vids by the way! I've just watched some of your other ones. You're funny as hell bro. And also all the click-bait thumbnails!
The topics you pick are quite informational and your insights are quite spot on and entertaining.
Sorry but I did not like, or subscribe or turn on the bell to your channel. Still, your UA-cam videos keep turning up in my viewing list.
No worries, keep up the good work and you should get your viewership up soon. Be safe and take care.
so sad to hear it 😥
I like your clickbait game.
I'm working hard on it !
(Singlish) You never do that face, what for I like and subscribe? cheh!
🤣😂🤣 Just kidding ok? Already subbed, altho your most recent 2 videos not my kind of topics.
Blue pen - confirm chop stamp original signed by you. Black - can be photocopied/scanned. Red - used for corrections.
Blue can be photocopied as well, no? :)
What kind of topics would you like to see more?
@@MaxChernov Sorry, was in Singlish mode. "Black can be photocopied" replace with normal English of "Black MIGHT be a photocopied document, not original".
Blue Pen indicates authenticity of signed documents. Schools teach pen-writing in blue colour from the start, so blue is the "default" colour to write in. The govt just made it a rule to use only blue pens in your case for your official documents.
Black signatures not encouraged cuz many/most photocopies produce copies in black/white, so it is indicative that the document is not original.
Yes you can scan/photocopy in colour, but a little more work needs to be done. And, your printer must be excellent to reproduce the document such that it looks like the ORIGINAL document. However, experienced civil servants can see if the blue portion has indentations to indicate you physically signed it, but it's such a small thing that can be easily missed, and you have to really wanna exploit this loophole to do it. Singaporeans generally don't, or don't bother to.
You will find that SG Govt is very picky that you produce ORIGINAL documents for everything. If they accept copies of documents, it must sport a "CERTIFIED TRUE COPY" stamp to be accepted, and even so, not every department accepts copies.
@@foxtwo thanks so much for such a detailed explanation!
@@MaxChernov No problemo 😁 Also don't worry about what topics I'd like to see ... I'll search youtube for those. You continue on your own path... you have a skillset and knowledgebase that no one else has, so your videos will be helpful to SOMEONE... just not me 😁
@@foxtwo haha thanks:)
🤣😂
Failed, I clicked dislike
You would have gained a like if you tried to save my time by skipping your asking for likes and go straight to the point
Painful 😞
@@MaxChernov
Sorry mate, some time trying too hard will have negative outcome
Hlo sir I want to contact you