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Final b Plan (1) (1)

Final b Plan (1) (1)

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Published by Adnan Yahya
Business plan for a new product called as the luminous sports gadgets for night sports
Business plan for a new product called as the luminous sports gadgets for night sports

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Published by: Adnan Yahya on Aug 01, 2012
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TABLE OF CONTENTS

              Introduction Vision and mission Product details Blue print Accessories Location Targeted area Human resource Organizational structure Marketing strategy Legal affairs Finance Competition SWOT analysis

EXECUTIVE SUMMARY
Today, the world is full of chaos, and people are short of time. The world is getting smaller and smaller, people are coming closer together and technology is at zenith. There is a dependence of the whole of the whole electronic industry of the concept of charging, batteries and electricity, consuming a lot of time and energy. At this period of time, we feel privileged to announce to the world a thrilling and astonishing product, which will revolutionize the concept of technology and will take it to a whole new level. Introducing the all new charging entity for electronic products, downsizing the traditional consumption of power and wired chargers. The product, Pocket Power, is basically a portable mini charger for most of the common electronic items such as mobile phones, I pods, digital cameras etc, that doesn’t need traditional electrical charging, rather uses body heat and Kinetic energy to produce electricity. The main focus of the product is to eliminate the use of wired chargers and bring a user friendly, eco friendly and economical system by merging two immense phenomenon’s of modern physics for enhancing the standard of living of mankind forever. The product is our own invention and this is the first time the world is witnessing such a product in the market at a reasonable price. We have combined two of the biggest concepts of modern physics used for generating electricity. The product would be a combination of electromagnetic induction and thermal electricity, where the product would be charged by mere movement of an individual by converting mechanical energy into electrical energy using a mini micro dynamo, and would be backed up by the electricity produced by consuming body heat and converting it to electrical current, which is then used to charge various electronic gadgets. One major feature of the thermo magnetic charger is that it cannot be copied by any other manufacturing firm because it consists of an inbuilt system because of which, once you try to open the product, it collapses, a short circuit takes place and the product burns down, which prevents the leak of our formula. The product is designed to be successful in fields like military , healthcare, investigation, night vision, radar etc. Though the product is designed for every age group, but our main focus is on young people, students, travellers etc. We are recruiting students from colleges and then under our supervision, they are trained to operate and manufacture. We have a functional distribution of power and invest a big chunk of our capital for research and development. We are using various innovative methods for marketing our product including networking, campaigns, seminars, website, radio, and musical concerts etc. In spite of all these measures our company is likely to face stiff competition in near future but we promise to this world that we would change the ideology and approach of people towards technology and once again announce to this world

WALK THE TALK

Introduction
Think Ahead Pvt Ltd is a company that focuses on innovation; we have to our varied range of products a new addition the portable charger – “Pocket Power”, which has been available in the Indian market for the last 2 years. We now intend to expand our business and reach out to a larger audience and go international. We will be expanding our product line to Singapore. We believe that Pocket Power is a thrilling and astonishing product, which will revolutionize the concept of technology and will take it to a whole new level. Introducing the all new charging entity for electronic products, downsizing the traditional consumption of power and wired chargers. Pocket Power is basically a portable mini charger for most of the common electronic items such as mobile phones, I pods, digital cameras etc, that doesn’t need traditional electrical charging, rather uses body heat and Kinetic energy to produce electricity. The main focus of the product is to eliminate the use of wired chargers and bring a user friendly, eco friendly and economical system by merging two immense phenomenon’s of modern physics for enhancing the standard of living of mankind forever.

We expect this product to excel not only in Indian markets but each and every part of this world, from freezing poles to burning deserts, this product will become a part and parcel of people’s lives just like mobile phones.

COMPANY PROFILE
We are a private limited company functioning in the electronics industry. Think Ahead Pvt Ltd has been in the market from the past two years. We are the manufacturers of the products and we propose to reach out to the consumers with better and more innovative products. Electronics industry is an industry that faces innovation on a daily basis, to say an hourly basis would not be wrong either. Think Ahead aims to go one step ahead, and bring in to the world such products that the world has not even thought about. We believe that communication is only complete when we are able to hear to the unheard wants and desires of people. We don’t believe in satisfying those needs of consumers that are already expressed and being addressed to by everyone else, we wish to address those wants that are not known to anyone else, and Pocket Power is a result of this ambition. We started our business in Bangalore and our first factory is also in Bangalore. Our factory will be semi-automated to reduce the labour requirement. Our factory practices eco-friendly methods of production. We will be entering Singapore through the turnkey method, because we are new to the market there and hence would like to make use of the available expertise and knowledge of the people in that area. And we shall take over completely once we are familiar with the conditions there. We started operations in Bangalore with respect to Pocket Power in the previous year and have been successful in capturing all the metro cities in the country. We are sure to capture the Singapore market also with our different product that satisfies all the consumers’ needs. The number of outlets we shall have in a particular city depends on the density of population and available scope for expansion. There will be no limit to the number of outlets as the company wishes to reach out to as many people as possible. Expansion is totally left to the company’s discretion.

VISION AND MISSION
MISSION

Through this product, we intend to bring a revolution in technology making an important but tedious process of charging, tremendously simple and ever sustaining.
The mission of Think Ahead Pvt Ltd is to revolutionize the electronics industry.

VISION
The company by providing premium quality products elevates the standards of the electronics industry around the globe, catering to the changing needs of customers and thereby improving the position of the company continuously while also reaching out to the welfare of its employees and the community.

TAG LINE AND LOGO

WALK THE TALK

INSIGHT INTO THE PRODUCT

PRINCIPLE
It works on a blend of two principles as follows:-

Thermoelectric effect
The thermoelectric effect is the direct conversion of temperature differences to electric voltage and vice-versa.

Electromagnetic induction
Electromagnetic induction is the production of an electric current across a conductor moving through a magnetic field.

WORKING
The product would internally consist of a thermoelectric device that creates a voltage when there is a different temperature on each side. Conversely, when a voltage is applied to it, it creates a temperature difference. At the atomic scale, an applied temperature gradient causes charged carriers in the material to diffuse from the hot side to the cold side The ‘Piezoelectric' substances are like ceramics which generate electricity from mechanical pull or press, and do not need any voltage to be applied on. It would also consist of a semicircular metallic ring connected to a mini dynamo. The movement of an individual causes a weight or the metallic disc to move back and forth, which sets a micro-generator spinning which produces electrical energy. The electricity is stored in a capacitor analogous to a battery in a battery-powered watch.

USAGE
Thermo magnetic charger works continuously and is accessible any time. One can charge the charger while walking with the charger in pocket or even at rest. This can then be connected with various electronic gadgets using USB cables provided with the charger such as Mobile phones I pod’s Digital cameras I phones Medical appliances etc The charger would come with multiple ports, making it feasible to use in cell phone’s of any company be it Nokia, blackberry, Samsung, and cameras too. It can also be attached with these gadgets permanently making them a single product altogether making it even more convenient.

POTENTIAL MARKET
The charger has a huge scope in future and can be used in fields such as

Military:
Thermal Viewers Weapons Sights etc

Health care:
BP, pulse rate, hearing aid, pacemaker’s etc

Night vision:
torch, binoculars, laser etc

Telecommunication:
Mobiles, call centers etc

Entertainment:
Laptops, remote controls, clubs etc

Investigation:
Radar system, sensors, BDS etc

TARGET AREA
-As it is clear from above analysis, the product is usable for all age groups and nations, but our main focus is still the people from 15 to 40 years of age. - Teenaged people are more likely to consume the product because of their increasing craze for electronic gadgets and cell phones. - People falling under the category of students and are expected to utilize the product at a higher extent, being busy in their academic schedule and having lack of time. - Middle aged employees, businessmen, sports people, travelers, trekkers, photographers etc are also our preferential target because of their increasingly hectic jobs and isolated life. - Adventurous people would find it very useful in tours and travels using it as a fairly simple way to operate their electronic items.

LOCATION
INSTALLAION We are installing our manufacturing unit in the outskirts of Bangalore itself, in Whitefield region so as to have a larger and cheap area for manufacture and finishing. This land would be hired from local venture capitalist in collaboration with them on contractual basis of one year. RAW MATERIAL we are purchasing raw material from various industries within Karnataka including some electronic factories from Bangalore and some piezoelectric factories manufacturing ceramic and other thermo electrical appliances. SHOWROOMS our main showroom would be on brigade road, which we would hire for a certain amount of time till the product gains popularity and trust among people. Further our sub units would include Whitefield and koramangala. The show rooms would consist of not only the main product but also certain shoes, clothing etc with inbuilt electromagnetic chargers. TRANSPORTATION we would hire load carriers and trucks for efficient and timely distribution of the product plus home delivery would be through two wheelers with conditions applying.

HUMAN RESOURCE
- One of the major differences between this company and other electronic companies is that the bulk of our human resource would be graduate and post graduate students from colleges who are still studying. - In this way the cost of HR would be reduced to a fairly large extent and this capital saved could be used for marketing plus research and development. - These students working for the company would be engineering students from electronics plus certain management students too for proper administration and functioning of the company. - The students would not only be provided the monetary benefits but we would provide them an opportunity to perform their academic researches and experimentation in specified segments of our manufacturing unit, which would be handy for them to gain academic excellence and would help them in their future PHD’s. - In addition to this, a certain number of engineers would be experienced and well known who would be having an eye on junior workers.

SALARY DISRTIBUTION
Below is the distribution of the salary provided by our company to our employees based on experience and qualification. Starting from the first year till third year the salaries are :-

1ST 2ND 3RD EMPLOYEE YEAR YEAR YEAR GRADUATE P.G SENIOR 6000 8000 11000 8000 10000 13000 10000 12000 15000

QUALIFICATIONS

ENGINEERING

LOWER LEVEL GRADUATE ELECRONICS

MIDDLE LEVEL

HIGH LEVEL

POST GRADUATE MSC, PHD ELECTRONICS ELECTRONICS

Management
MANAGERS ACCOUNTANTS CLERKS

BBM, BBA, MBA

B.COM, M.COM

SECONDARY SCHOOL

HUMAN RESOURCE TRAINING
- In our company, Human Resources (HR) training in many employee-related and legally-related topics is mandatory, especially for managers and supervisors as well as for technical staff including engineers. - We conduct workshop in our campus and abroad where highly qualified research scholars with experienced staff professionally train our employees and make them highly efficient in the manufacture and maintenance of the product. - We emphasize to equip our employees to handle their employee relations responsibilities competently. For maximum positive impact and learning, we would strive to make the training motivational and engaging. - We provide an overview of what will be learned, and explain how it will pay off for both the employee and the company. - we move on to bullet-point lessons, connecting them as much as possible with actual situations at jobsite and identify policies, procedures, and examples that make our supervisors nod in recognition,” - We instruct in small chunks. Allow time for discussion between segments, as well as periodic breaks. - After each chunk, insert a quick quiz, and tell trainees it’s coming. Trainees will listen more sharply. Score it immediately so they can see their progress and what they still need to learn. You may wish to call these quizzes “self-tests,” the book suggests, so that supervisors feel that they’re assessing themselves rather than being judged by others. - Provide a handout on the most important points for later reinforcement. If it’s information that both employees and supervisors need, create it as a poster or pamphlet that can be distributed.

ORGANISATIONAL STRUCTURE
THE FUNCTIONAL ORGANISATIONAL STRUCTURE OF OUR COMPANY IS AS FOLLOWS:-

FUNCTIONAL ORGANISATIONAL STRUCTURE
- In this structure, our employees are working in departments based on what they are doing i.e. we have engineering department, maintenance department, finance department, research department, Warehouse department, purchasing department. - This structure saves us money because of the economies of scale. - The chain of command is linear and sound - The human resource abilities are constantly nurtured by concentrated tutoring, leadership, and guidance - Professional similarities between the organizational participants in each of the different functional offices. - The development of professional expertise attained by clustering specialists in the present function as a single unit - Provides an easy path for the employees to grow within the organization sideways as well as upwards in the organizational tree. - This structure enhances the experience of each function. For example, all the maintenance engineers are working in the same department and thus they will exchange knowledge and support each other.

RESEARCH AND DEVELOPMENT
- We Investigative activities that we chooses to conduct with the intention of making a discovery that can either lead to the development of products or procedures. - Research and development is one of the means by which our business will experience future growth by developing new products or processes to improve and expand our operations. - Research and development helps us to enhance the efficiency of the product and helps us make it better, featured smaller and competent and also helps us in profit maximization. - Our key objective is to obtain useful forecasts of market size like overall demand, operational costs like production costs and financial projections such as sales and profits. - Much effort is directed at both internal research, such as discussions with production and purchasing personnel, and external marketing research, such as customer and distributor surveys, secondary research, and competitor analysis. - Ideas passing through business analysis are given serious consideration for development. We direct their research and development teams to construct an initial design or prototype of the idea. - Unlike the concept testing stage where customers were only exposed to the idea, we allow the customer to get to experience the real product. - Favourable customer reaction helps solidify the marketer’s decision to introduce the product and also provides other valuable information such as estimated purchase rates and understanding how the product will be used by the customer.

Expense on research and development, per month

R&D IN MARKETING

R&D ON PRODUCT

R&D IN HR AND RECRUITMENT

AMOUNT PER MONTH

7000

10000

5000

EXPENCE ON MAINTENANCE, PER MONTH
MAINTENANCE OF MACHINERY MAINTENANCE OF PRODUCT MAINTENANCE OF RAW MATERIAL

AMOUNT

6000

4000

3000

MARKETING STRATEGIES
we use marketing as a process of developing and implementing a strategy to plan and coordinate ways of identifying, anticipating and satisfying consumer demands, in such a way as to make profits. It is this strategic planning process that lies at the heart of our marketing. We intend to use a big combination of various marketing strategies to attract our customers and popularize the brand.

NETWORKING
• within our professional sphere • within tangential spheres that fit our niche market • Face-to-face • Networking groups • Conference calls • Web-based bulletin boards

• Professional meetings and conferences

Publicity
• Press Releases - Announcements (moves, hires, contracts) Special Events (seminars, speeches, appearances) • Publicity Events related to seasonal celebrations • Columns Local newspaper For corporate publications For professional journals and trade association newsletters

• Radio Shows

AWARENESS

Newsletters
• Printed • Electronic • Text-based email • HTML email • Solo or collaborations • Articles pertinent to your niche • Web-based • Special offers • Book reviews

Web Site
• Brochure ware • E-commerce • Client Testimonials • Sell books, tapes, courses • Experimental Colleges • Business groups

• Professional associations

Seminars
• Introductory seminars • Seminars or workshops for organizations within our niche

Collateral
• Business cards • Brochures • Letterhead and envelopes • Welcome packet for new clients • Web site • Print newsletter

Advertising
• Banner ads on Web sites • Magazines • Calendars • Special events • Cable TV/Local Access Direct Mail • Postcards • Special offers • Reminders • Sales letters • Offering discounts • Personal letters • Show or seminar schedule • Celebrations • For seminars • Newspapers • Theatre and other event programs • Sponsorships • Sports teams • Radio

Cross Promotions
• Giving discount coupons/certificates to a complementary business • Cosponsor special events and promotions • Cosponsor with a non-profit organization • Affiliate programs

Signs
• On place of business • At tradeshows or conferences • Bumper stickers • Window stickers • Stickers

Mini-media
• Signs on bulletin boards • Canvassing our neighbourhood with fliers • Personal letters • Classified ads • Yellow Pages • Wearing a gorilla suit and handing out balloons and business cards

FINANCE
- We use financial segment for the management of money. Finance is operated as a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created for transacting and trading assets, liabilities, and risks. - Finance is conceptualized, structured, and regulated by a complex system of power relations within political economies across state and global markets. although these activities increasingly converge through the intense technical and institutional focus on measuring and hedging risk-return relationships that underlie shareholder value. - Networks of financial businesses exist to create, negotiate, market, and trade in evermore-complex financial products and services for their own as well as their clients’ accounts. - Financial performance measures assess the efficiency and profitability of investments, the safety of debtors’ claims against assets, and the likelihood that derivative instruments will protect investors against a variety of market risks - The financial system consists of public and private interests and the markets that serve them. It provides capital from individual and institutional investors who transfer money directly and through intermediaries (e.g. banks, insurance companies, and fund management firms) to other individuals, firms, and governments that acquire resources and transact business. With the expectation of reaping profits, investors fund credit in the forms of :(1) debt capital (e.g. corporate and government notes and bonds, mortgage securities and other credit instruments), (2) equity capital (e.g. listed and unlisted company shares), and (3) the derivative products of a wide variety of capital investments including debt and equity securities, property, commodities, and insurance products.

TYPES
The mischaracterization of investment safety and measures of financial products and markets are so complex that their effects, especially under conditions of uncertainty, are impossible to predict. The study of finance is subsumed under economics as finance economics, but the scope, speed, power relations and practices of the financial system can uplift or cripple whole economies and the well-being of households, businesses and governing bodies within them. Three overarching divisions exist within the academic discipline of finance and its related practices: 1) personal finance: the finances of individuals and families concerning household income and expenses, credit and debt management, saving and investing, and income security in later life, 2) corporate finance: the finances of for-profit organizations including corporations, trusts, partnerships and other entities, 3) public finance: the financial affairs of domestic and international governments and other public entities

LOANS
Loans have become increasingly packaged for resale, meaning that an investor buys the loan (debt) from a bank or directly from a corporation. Bonds are debt instruments sold to investors for organizations such as companies, governments or charities. The investor can then hold the debt and collect the interest or sell the debt on a secondary market. Banks are the main facilitators of funding through the provision of credit, although private equity, mutual funds, hedge funds, and other organizations have become important as they invest in various forms of debt. Financial assets, known as investments, are financially managed with careful attention to financial risk management to control financial risk. Financial instruments allow many forms of securitized assets to be traded on securities exchanges such as stock exchanges, including debt such as bonds as well as equity in publicly traded corporations.

STARTUP FUNDS
Here are some important and commonly used sources of startup funds used by entrepreneurs and venture capitalists to startup a new small scale business. Debt financing - You borrow the money and agree to pay it back in a particular time frame at a set interest rate. You owe the money whether your venture succeeds or not. Bank loans are what most people typically think of as debt financing, but we will explore many other options below. Equity financing - You sell partial ownership of your company in exchange for cash. The investors assume all (or most) of the risk--if the company fails, they lose their money. But if it succeeds, they typically make much greater return on their investment than interest rates. In other words, equity financing is far more expensive if your company is successful, but far less expensive if it isn't. Friends and family They still are our best source for both loans and equity deals. They are typically less stringent regarding your credit and their expected return on investment. Credit cards Credit cards are a great tool for cash flow management, assuming you use them just for that and not for long-term financing. Keep one or two cards with no balance on it and pay it off every month to give yourself a 30 to 60 day float with no interest. And the low introductory rates on some cards make them some of the cheapest money around. Managed well, they're extremely effective; managed poorly, they're extremely expensive.

Bank loans Bank loans come in all shapes and sizes, from micro loans of a few hundred dollars, typically offered by local community banks, to six-figure loans by major national banks. - These are much easier to obtain when backed by assets (home equity or an IRA) or third-party guarantors (e.g., government-sponsored SBA loans or a co-signer). - If you obtain a line of credit rather than a fixed-amount loan, you don't start paying interest until you actually spend the money. Leasing it is the way to go if you need big-ticket items such as equipment, vehicles, or even computers. Your supplier will help you explore this. Private lending it represents a viable alternative when the bank says "no". Private lenders are looking for the same information and will conduct similar due diligence as the banks, but they typically specialize in an industry and are more willing to take on higher-risk loans if they see the potential.

AMOUNT AND SOURCES OF FUND BREAKUP ACCOUNT
EQUITY FINANCING {INVESTORS} BANK LOAN

800000 7200000 1800000 400000 1300000 500000 800000 500000

FAMILY PROPERTY

MUSICAL CONCERTS AND SHOWS MORTGAGING LAND AND PROPERTY THEATER AND SPORTS EVENTS MANAGEMENT DEBIT FINANCING FROM VENTURE CAPITALISTS CREDIT CARDS

Total capital = Rs 13300000

TRADING ACCOUNT FOR THE YEAR 2012-2013
PARTICULARS AMOUNT PARTICULARS AMOUNT

To purchases

2366340

By sales

44347500

Plastic

603000

Semiconductor

800540

Ceramic material

925000

Metal

37800

To wages

2340000

Carriage inwards

43000

To gross profit

39636860

PROFIT AND LOSS ACCOUNT FOR THE YEAR 2012-2013

PARTICULARS To marketing expenses To research and development expenses To rent To annual maintenance To salary To Miscellaneous To depreciation To Professional charges To Interest To net profit

AMOUNT 1300000

PARTICULARS By gross profit b/d

AMOUNT 39636860

1205000 904000 1403000 753000 700000 700320 250000 432000 31989540 31989540

A SIMPLIFIED ACCOUNT
No of chargers produced in 1 day = 300 no of chargers produced in 1 year = 109500 manufacturing cost of 1 charger = 280 manufacturing cost of 109500 chargers = 30660000 selling price of 1 charger = 575 selling price of 109500 chargers = 62962500 Therefore, profit excluding taxes and exercise duties = Rs 32302500 Now income tax + vat + legal documentation = = 9690750 + 4522350 + 232500 = 14445600

PROFIT PER ANNUM = Rs 17856900 PROFIT PER MONTH = Rs 1488075 PROFIT PER DAY = Rs 49602.5 INSURANCE = 3840000

COMPETITION
Due to the first movers advantage,we have lesser sense of competition than what other companies have. Our product is not manufactured by any other factory in the world and thus eliminating the sense of competition. But still, we have to look forward to eliminate the concept of traditional; charging and work on making the electric chargers obsolete. Competition may arise from those companies, who in near future may try to copy the product and sell the same design into the market. We have provision for that in our product as it cannot be copies. - For details look in executive summary Competition is the effort of two or more parties acting independently to secure the business of a third party by offering the most favourable terms". It was described by Adam Smith in The Wealth of Nations (1776) and later economists as allocating productive resources to their most highly-valued uses. and encouraging efficiency. Later microeconomic theory distinguished between perfect competition and imperfect competition, concluding that no system of resource allocation is more efficient than perfect competition. Competition, according to the theory, causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater selection typically causes lower prices for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).

However, competition may also lead to wasted (duplicated) effort and to increased costs (and prices) in some circumstances. For example, the intense competition for the small number of top jobs in music and movie acting leads many aspiring musicians and actors to make substantial investments in training which are not recouped, because only a fraction become successful. Critics have also argued that competition can be destabilizing, particularly competition between certain financial institutions.

SWOT ANALYSIS
STRENGTH

-

The product design is new and cannot be copied - There is a huge demand in marker for such products.

- The product is highly popular among youth and thus has a great scope for higher sales and profit maximization. WEAKNESS - Low capital availability - high cost of labour

- high maintenance cost - In experienced staff and management

OPPORTUNITY - High scope in international market - product differentiation can make it flourish - product efficiency can enhance utility

THREAT - Take over by competing companies - non availability if money or investment leads to loss -leek of trade secret - political power may disturb progress

Market survey
The World Bank notes Singapore as the easiest place in the worl to do business th 4 leading financial centre,

world's third highest GDP PPP per capita , one of the richest countries in the world The opening of the Suez Canal in 1869 caused global trade to boom, and Singapore became a major world trade node

The Singaporean economy is known as one of the freest, most innovative, most competitive, and most business-friendly. The 2011 Index of Economic Freedom ranks Singapore as the second freest economy in the world, behind Hong Kong. According to the Corruption Perceptions Index, Singapore is consistently ranked as one of the least corrupt countries in the world The country has the highest trade-to-GDP ratio in the world at 407.9 percent, signifying the importance of trade to its economy Singapore attracts a lot of foreign direct investment because of its location, corruption-free environment, skilled workforce, low tax rates and advanced infrastructure. There are more than 7,000 multinational corporations from the United States, Japan, and Europe in Singapore. medical tourism hub: Singapore is an education hub Singapore the world's top logistics hub

also has one of the highest income inequality levels among developed countries Mobile phone penetration rate is extremely high at 1,400 mobile phone subscribers per 1000 people. Around 1

Legal system in terms of business
Singapore’s civil justice system has been ranked as #1 in the world in the World Justice Project’s 2010 Rule of Law Index. The Rule of Law Index enables stakeholders to assess a nation’s adherence to the rule of law in practice and involved interviewing 41,000 people and over 900 experts across 35 countries. Singapore ranked #4 in the world for absence of corruption; #7 for its clear, publicized and stable laws; #1 for order and security; #7 for regulatory enforcement; and #1 for access to civil justice. This isn’t the first time that the Singapore economy has been lauded for its corrupt free environment and strict legal enforcements. The Political and Economic Risk Consultancy ranked Singapore as having the most efficient bureaucracy in Asia in 2010. It also topped Transparency International’s ‘2010 Corruptions Perception Index’. The World Economic Forum’s ‘2010 Global Competitiveness Report’ ranked Singapore #1 for encompassing the most efficient legal framework for settling disputes. Singapore’s legal system augurs well for foreign companies and entrepreneurs who are keen to incorporate Singapore company and establish a business presence in the region.

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