Immigrate to Singapore to understand the rules of doing business in Singapore: Global financial reports consistently rank Singapore as one of the easiest places in the world to do business, yet conducting business with Singaporeans is not necessarily simple. Singapore has its own unique business etiquette, and to succeed, you must understand these 5 unspoken rules:
First: Singaporeans want to be in charge. They will never concede to a 50-50 split with foreign partners, or allow others to take priority with a 60-40 or 70-30 split, unless they have no other choice. However, be very cautious with such agreements; it is highly likely that the quality provided by the Singaporean side will be discounted by 10% or 20%, or they may provide second or third-rate products, thinking, "Why should we provide the best?" They feel they are not maximizing their own interests, and the service quality may be poor.
Second: Singaporeans love luxury. They will never agree to discuss business with you at a hotel or restaurant that is not five-star, as they feel it compromises their status. Even if you have arranged a meeting, they may request a change of venue at the last minute. If you insist on meeting at the original location, they may comply, but their lack of sincerity will be evident, and they may be reluctant to continue negotiations. Singaporeans insist on traveling in premium cabins on Singapore Airlines when visiting China for business meetings.
Third: Singaporeans are risk-averse and insist on everything being in writing, signed, and confirmed. People say: Taiwanese lack structure, Hong Kongers are heartless, Malaysians are ignorant and shameless, and Singaporeans are timid and risk-averse. Singaporeans want to maximize their benefits but are afraid to sign contracts immediately. They will say they need to consider things carefully, consult with colleagues and shareholders, and only after multiple discussions will they reach an agreement to sign. Often, they will agree to cooperate only after a long time, sometimes not answering immediately and only agreeing reluctantly when you follow up. Before signing a contract, they will certainly have several colleagues review it multiple times to ensure it is clearly written and grammatically perfect. Only when everyone agrees there are no issues will they be happy to sign; otherwise, they will urge you to revise the contract and review it again before signing.
Fourth: Singaporeans love to instruct others and point out their shortcomings, saying, "Come on, you don't understand, let me teach you!" They often act as if they are the smartest people in the world! If you do not understand something and try to interrupt to ask a question, they will quickly say, "Listen!!! Listen to me first, let me finish, okay?" If you disagree with their viewpoint, they become very unhappy, sometimes adding, "I am telling you this, I would never lie to you! You can ask someone else!" To succeed in business with Singaporeans, the first thing you must learn is to listen patiently.
Fifth: Singaporeans are not necessarily the smartest people in the world. How do we know? There is always a foreign expert by their side, brought in from Australia, the UK, the US, or Canada. Singaporeans admire foreigners and believe that whatever a foreigner says is absolutely correct, without ever questioning or verifying the validity of the foreigner's logic. If you question the foreigner, the Singaporeans will be very unhappy: "What is wrong with you? The foreigner's logic is the best in the world, how can you not believe it?"
