Things You Don’t Know About Singapore’s Electronics and Computer Maintenance Industry
Have you realized that Singapore has something to do with almost every gadget or electronic device that you own today? If it wasn’t entirely made in Singapore, most likely, at least one of its parts was created here.
Most of us, if not all, know how Singapore is advanced in terms of electronics and digital technology. Aside from the fact that it has been a popular destination for people who want to buy all kinds of gadgets and gizmos, its government is also known to be very competitive (not only with its neighboring Asian countries but also with the rest of the world) when it comes to science and technology.
So since technology is constantly and rapidly changing, do you think you already know everything about Singapore’s electronics and computer industry?
If you’re eyeing on entering this vibrant and promising industry, then take to read this article till the end; as we here at Enterprise Assurance PAC would love to educate you a bit more on this bustling industry and why it’s one of the leading business sectors that provide amazing business opportunities to aspiring entrepreneurs in Singapore.
A Pool of Highly Qualified Talent
If you’re thinking of opening a computer maintenance or electronics company in Singapore, you wouldn’t really have to worry about finding the best team. Besides the fact that many young locals study abroad and return to their homeland to help in this industry, the Singapore government also takes great part in honing the talent of locals who wish to succeed in the science and technology sector. Every year, they train about 13,000 engineers and technicians so that they can ensure a steady stream of competitive and highly qualified talent to the electronics industry. Not only that, key industry players like NVIDIA or EDB partner with Singapore’s scholarship and post graduate study programs, among others.
Singapore’s Smart Future
In business, it is understood that one must always look ahead to be able to maximize all the opportunities and avoid all the threats coming your way. So if you’re hopeful to get a piece of the pie in the electronics and computer maintenance industry, then prepare yourself for what Singapore has been pushing for many years now.
It is Singapore’s 2020 vision to be the world’s first Smart Nation. The government is highly committed to partner with multinational companies so that they could design, innovate and develop solutions for intelligent homes, smart cars, fully automated factories, and the like. As a matter of fact, companies like HP, Micron, and NXP are already working with Singapore to pioneer advanced manufacturing technologies.
An Income-Generating Industry
This business sector is indeed promising for any new player. Even though there had been times when the electronics industry has suffered from some downhills and hiccups, its ability to recover everytime is very much proven.
This industry alone accounted for the largest share of value added to the manufacturing sector. Just last year, they have seen a 12.8% growth in electronics output in the first 11 months. Furthermore, and in relation to the Smart Nation vision, more and more people are in need of highly specialized computer and IT maintenance services. If not to merely repair the computers and other gadgets, people are so persistent in upgrading their own set of gizmos - both private and business consumers.
Mr C. K. Tan, president of the Singapore Semiconductor Industry Association (SSIA), said: "Segments like industrial IoT, new and exciting portable handheld gadgets, new low-cost applications that enable IoT proliferation in healthcare, robotics, augmented and virtual reality, drones and autonomous vehicles will provide the base for growth in the sector." So if you’re confident that the electronics company you’re going to start or invest in is something that the market needs, then you can expect a steady flow of income.
Need for On-site Services
Not so long ago, when people need to have their electronics or computers diagnosed, fixed, or upgraded, they would have to personally bring their gadgets to the factory or repair shop. But now, since the buying behaviors of the consumers have rapidly and dynamically changed, there is now an imminent need for on-site computer maintenance services, with no additional cost (unlike before).
As a matter of fact because of this, many computer technicians, IT specialists, and electronics engineers opted to do freelancing and be their own boss.
So what we’re saying is this: in this business sector, players consist of companies PLUS individual professionals who provide on-site computer maintenance services. If you’re about to take part in this industry, you’ll have to determine whether this is really a threat or an opportunity.
If you are really committed to starting your own electronics or computer maintenance business, of course you should still expect that there will be lots of challenges. But more importantly, know that there are plenty of experts and specialists who could help you get through them. Just like us here at Enterprise Assurance PAC. We’ll not only help you with company incorporation in Singapore, but we’ll also be there to guide and help you with your finance, accounting, and other needs. Speak to us now!