Exploring Business Opportunities in Singapore for Food Business

Abstract

 Abstract— Singapore is the first nation, with which Japan entered into the Economic Partnership Agreements (EPA), a scheme to create a free trade area in 2002. Japan has been maintaining a strong relationship with Singapore since then. For instance, there registered 856 Japanese firms in Singapore according to Annual Report of Statistics on Japanese Nationals Overseas (Ministry of Foreign Affairs, 2015) and Outlook of Singapore and Business of Japanese-Based Companies in Singapore (JETRO Singapore, Aug 2016). However, not many Japanese companies have achieved successful business results in Singapore even though Singapore possesses a variety of advantages for doing business like lower tax rates and developed infrastructure provisions. This paper investigates advantages and disadvantages of the Singapore for food business in order for Japanese food companies in order to offer comprehensive understanding of and insight into its food market. As a research method, customer satisfaction is observed on the basis of the survey conducted with 1,080 patrons of a restaurant chain in Singapore. The criterion of choosing estimated parameters is attributable to each multiple correlation coefficient of a linear regression analysis. The research result conclusively indicates the importance of a traditional marketing activity and its