24 January 2020
Entering a new market can be a game changer for businesses in the consumer industry, but it can come with some significant legal risks. Consumer protection laws, supply chain issues, product regulation, data privacy issues, intellectual property challenges, and changing tariffs and customs all could impact your entrance in a new environment. Whether a global player, a start-up, or a foreign investor, our Doing Business publications will help you to smoothly conduct your consumer business, identify the legal snags, and determine how best to maneuver.
Doing Business in Singapore: Consumer Sector
In 2019, Singapore was ranked no. 2 for "Best Country in the World to do business" by the World Bank. Singapore is seen as a gateway to the Asian markets, where spending by 3.2 billion middle-class consumers could hit US$55 trillion by 2030. Attuned to the similarities and differences between Western and Asian consumers, as well as the diversity within Asia, Singapore has been the choice of many multinational corporations in the consumer sector that have set up their regional headquarters here.
There are many reasons for this, including the openness of Singapore's economy, its general financial stability, government incentives, extensive network of double tax treaties, strong infrastructure, and reputation for fairness and impartiality in commercial law.
Doing Business in Germany: Consumer Sector
Germany should not be a blank spot on your company map. Located at the center of Continental Europe, it is the world's fourth biggest economy and the home of some of the biggest companies in the world. It plays a key role in the EU and is a motor of the European economy.
At the same time, the consumer industry is one of Germany's largest industries: with a population of almost 83 million, there is plenty of business to do. No surprise that every industry giant and numerous multinationals from all around the globe are present here. Whilst Germany has a well-organized legal system, it is dominated by a sometimes complex mix of national and EU legislation, and there are some significant legal pitfalls.
Doing Business in the United States: Consumer Sector
The United States has the most well-developed consumer economy in the world, with approximately US$13.2 trillion in annual consumer spending, the world's highest per-household spending, and retail space per capita that is more than twice that of the most retail-heavy European country. Not surprisingly, the U.S. has developed a sophisticated regulatory framework focused on consumer protection, product safety, ensuring fair competition, and encouraging innovation. While entering the U.S. environment can be a game changer for businesses in the consumer industry, it comes with some significant legal risks.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.