Researching a foreign country you want to do business in is important. By looking at the political, economic, socio-cultural and technological factors, you can assess how well your product will do in the market.
What Should I Research?
Where Can I Find Statistics Or Market Information?
Where Can I Find More Information?
What Should I Research?
At the very basic level, you need to:
- Know your market
Before you venture overseas, you need to be familiar with the external environment and assess the impact that political, economic, socio-cultural and technological factors could have on your product.
- Know your product
It is important to assess your product's suitability for the market, taking into consideration factors such as product attributes, distribution and delivery, pricing and positioning, and servicing.
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Where Can I Find Statistics Or Market Information?
Online Or Electronic Sources
- Singapore Trade Statistics (Subscription/Fees)
- Statistics on Singapore's imports and exports are available at International Enterprise (IE) Singapore. There is a charge for accessing this information.
- Statistics are available on an annual, cumulative, quarterly or monthly basis. The data is categorised by imports, exports, re-exports and domestic exports.
- The statistics are available in publications, CD-ROMs, the online database Statlink or as over-the-counter customised reports.
- Market Information (By Country) (Free)
- You can find out the latest statistics and regulations for more than 30 overseas markets compiled by IE Singapore.
- You can search by country to find out about each market's modes of business entry, trade regulations, taxation rules, visa requirements and other details.
- Frequently Asked Questions at IE Singapore (Free)
- IE Singapore also has a database of frequently asked questions relating to venturing abroad.
- The database is categorised by country.
Libraries And Resource Centres
- IE Singapore Advisory Centre
- The Centre is the only library in Singapore dedicated to providing information on overseas markets.
- You can access country and industry reports, overseas business directories and Yellow Pages, statistics and tariff information at this reference-only library.
- Besides publications, there are more than 16 online databases providing market, industry and company intelligence.