The business is a licensed employment agency was established over 20 years ago with the main focus being recruitment and executive search. The business operates as a sole proprietorship for about 5 years before being owned by a private limited company. The business is GST registered since 2010. It has since rebranded and expanded into contract staffing, payroll service, work pass management, human resource consultancy in recent years. The business has strong existing clienteles, mainly MNCs and recurrent turnover in excess of SGD200k per month and it's profitable. Suitable for takeover by a recruitment agency holding comprehensive employment agency license or individuals with key appointment holder (KAH) license in order to be able to continue operating it. It is also highly suitable for existing or fairly new recruitment agency looking into expanding their service offerings in the HR industry. The office premises where the business operates is owner occupied. However, the business can be sold independently if the buyer is not keen to purchase the property.
Business Operation
This business occupied from an owner occupied office unit of about 732 sf. However, the business can be sold independent of the property and can lease back the office from the owner.
Facilities
The business operates in a competitive environment with a low barrier of entry. As a result, there are thousands of recruitment firms licensed by the Ministry of Manpower. However, many may not be active or are involved in domestic helper and foreign workers supplies instead of professional human resource management agency. However, the industry is constantly evolving, expanding and this business has always found it's niche and target industry to serve to remain relevant and profitable. This applies to many other competitors each with their own market niches and strength. The market size and breath of offerings allow the business to navigate business competition. The advent of AI and the constant change in government rules and regulations may also affect the nature of competition face by the business in the future. As Singapore is an open economy, it's easier for new competing business to enter and compete for market share. Thus, it's important that the business explore expansion outside of Singapore to grow the business.
Competition
As Singapore grows into an undisputed business hub in Asia, expansion opportunities exists for the business to grow not only in Singapore but into the various countries in the South East Asia and Asia region. Many international companies have established their headquarters in Singapore while expanding their operations in the region. These companies requires supporting professional services that are provided by our firm, namely employer of record, professional employer organisation, payroll management, work pass and other human resource management services. As the business operates in Singapore, it would be able to capitalise on the opportunities to capture these regional business opportunities as business decisions are made by senior management based in Singapore.
Expansion Potential
Yes. This can be discussed.
Support and Training
Preferably with Key Appointment Holder Licence issued by Ministry of Manpower
Singapore
