Prospect for Finance Professionals in Singapore

Excellent prospects for finance professionals
If you are a finance professional, there is no dearth of jobs for you in Singapore.  The prospects of accountants, bankers, finance analysts and specialists are bright here.  According to prominent recruiters, hiring trend is going to be positive in the coming year for the finance professionals.  In fact, the economy of Singapore is showing a trend of growth, so it is good news for the entire business community.  The increasing demand for finance professionals is a strong indicator that businesses are in an optimistic mode.  Many businesses are seeking growth and productivity, but the existing global downturn was responsible for sluggish trend of hiring in the previous three years.  However, as soon as the global economic situation experiences some improvement, businesses are likely to hire more professionals to boost their capabilities.

Employee crunch
According to a report, many CFOs in Singapore are apprehensive about possible attrition of finance and accounting professionals this year.  A majority of top financial executives were concerned that their top performers may switch to other jobs.  The Singapore economy has a promising outlook and increased confidence in the market indicates that the employee turnover is going to increase.  With more and more companies prospering and expanding, they are planning to recruit the best finance professionals to streamline their operations.  With such a comprehensive growth around the corner, it would be a challenge for the corporate world to hire and retain the best talent.

Increasing headcounts
However, it is good news for job seekers, especially finance professionals.  They have bright prospects ahead, as vacancies for a diverse range of professionals will soon be announced and professionals with all types of qualifications and experience such as information technology, manufacturing, marketing, sales, office administration and secretarial fields, will soon be in great demand.  Though, there has been a strong demand for finance professionals for the past two years, 2014 is going to be a very promising year.  According to a report, most of the companies are interested in maintaining or increasing their headcounts for finance and accounting functions. Banking sector is also bullish.

Come and settle in Singapore
This is good news for foreign professionals too, who have some difficulties in their native countries.  Singapore is offering you a lifetime opportunity to come, settle down and become rich.  Singapore doesn’t discriminate against immigrant workers as some advanced nations do.  On the contrary, the government of Singapore is quite supportive for foreign immigrants.  In Singapore, you can easily get a social visit pass or the work permit.  Visit visa in Singapore is normally for 30 days and can be extended to another 30 days, if required.  Singapore is generally considered to be a highly paid country, so the average salaries in Singapore are far higher than the ones in other countries.

Abundance of jobs
With majority of the companies looking for additional workforce, especially for finance, accounting and banking operations, it is the best time ever to migrate to Singapore to work as a finance professional.  The rewards of working at Singapore far outweigh its downsides.  Most of the finance professionals get a much higher package in Singapore as compared to their native countries, especially if they are talented and are willing to work hard.  Singapore companies are in dire need of hard-working professionals, who do not care about working hours, etc.

Getting settled in Singapore

So, you are all set to make this big move. The next couple weeks, you will be busy to make the choices about the many essential things in Singapore: Looking for a home, getting your kids enrolled in a great school, getting familiar with public transport, purchasing an auto, opening an account and managing a banking relationship, finding where to shop, and so on.
Luckily, Singapore is an astoundingly friendly city to get used to. You can easily access information through a telephone call or on the web space. However, it is recommended that you do some homework and some preplanning even before you ultimately land in Singapore.
That’s the sole purpose of this article. Apart from lodging regulations, info about hotels/lodges, flats, and global schools, this article also tells you about how to obtain your water, power, gas and telephone connection.  The information given below will help you settle in Singapore fast and in a convenient manner. 
Expat Housing - First of all, search for expect housing. It’s not easy to find a suitable accommodation in Singapore because of its demanding work environment. SHIFT (Short-term Housing for Foreign Talents in areas like JTC (Jurong Town Corporation) may be some good options.  
Lodging – Your first task should be to find a place to live, for the next couple months or years.  For that you can contact property consultants or the web-based agents, who will help you to find an apartment with an area, size and facilities you are looking for.
Look for comprehensive description of housing options in Singapore.
Least expensive lodging
SHIFT is a good option for foreign expatriates, if you do not mind traveling a bit more every day to commute to your office.
Premium apartments in the heart of the city
If you want to live in the heart of the city in a swanky apartment, you can avail it by paying a little more. 

Serviced apartments
This is temporary option to settle down, if you want to keep on looking for more permanent option.  In each case, you have a lot of choices.

Hotels/bachelors’ accommodations
If somehow your lodging arrangements are delayed or you need to wait a bit more to get an apartment ready to move-in, you can always go for hotels or bachelors accommodations, which are available according to your budget. 

Phone Services
Contact SingTel retail shops and SingTel Mobile authorized dealers for fixed line and mobile phone connections.  You need to deposit $300 to get a fixed line.  Go for prepaid services, for your mobile connection, in case you are in Singapore for a short stay, otherwise you can go for a one or two years’ contract.

Furniture and Decoration Services
There is no dearth of furniture and decoration services for your home, and you can choose one according to your ethnicity and preference.  There are different home furnishing service providers, who can provide you the right choice of European, Asian and antique furniture.

Water, Electricity & Gas Utilities
The Public Utilities Board (PUB) is a one-stop shop for all your water, electricity and gas connections in Singapore.  You can call at 1800-235-6841 (toll-free) to contact the PUB.

The IT Industry in Singapore

Market Overview
That Singapore is a highly developed and industrialized economy can be gauged from the rapid strides that are perpetually being made in the information and communication technology sector. The ICT sector plays a key role in fuelling growth and development of the national economy. The nation’s IT industry comprises the segments of software, hardware, content services, and IT and ITES services.

Of the topmost 100 IT software and hardware development and services firms in the world, over 80 of them have a branch in Singapore. World renowned companies like Microsoft, Google, IBM, Hewlett-Packard, Alcatel, AT &T, Dell, Compaq, Sony, and Ericsson either have a branch or regional office in Singapore. The government is also quite gung-ho about its Next Gen NBN (next generation nationwide broadband network) that was launched in 2006 with the pious objective of providing high-speed broadband connectivity to all commercial and residential establishments by 2015.
The network is being created using superior quality optical fibre. By the time the project is through, all business entities in Singapore, big or small will be able to access the Internet at speeds of 1 Gbps and beyond. Presently, different nodal agencies of the government in Singapore are exploiting cloud computing in a big for achieving its short-term and long-term objectives. The government strongly feels that introducing cloud computing in its various IT divisions will result in economies of scale via sharing of the available computing resources and by way of standardization.

Business Opportunities
The IDA (Infocomm Development Authority) which oversees the ICT sector in Singapore has outlined a roadmap for this segment. It has made all the necessary arrangements for local and multinational corporations to invest in the emerging and evolving sectors including broadband services, cloud computing, web development and design, digitalised content, security infrastructure,  cloud computing business analytics, and radio frequency identification.  

The Commercial Environment
In order to encourage and promote holistic growth of the infocomm sector in the country, the government is gearing up to collaborate and work in close conjunction with transnational IT and telecommunication companies. The government is earnest about joining forces with foreign firms in order to better comprehend and meet the requirements of institutional consumers not only in Asia but also beyond the continent. The administration is also committed towards the development of a skilled labour force that is tech savvy and internationally competitive. It is perpetually engaged in formulating plans and schemes to equip industry professionals with technical knowhow and the relevant professional skills so that they can have a better understanding of the business environment.

Promotion of Products and Services
Singapore has had a free market economy since long. Furthermore, the government in order to foster all round economic development has seen to it that foreign companies and multinational organizations do not face any hurdles in setting up their chapters in the country. It takes a month and a half to set up a new business in Singapore as there are hardly any trade restrictions and barriers.

The business-friendly environment in the ICT sector inculcates global players to invest heavily in Singapore. Additionally, the public and private businesses in Singapore by teaming up with the overseas corporate organizations are able to make the most of the market opportunities worldwide.