Tim Kennedy, Managing Director of outsourced direct sales and marketing firm LMS Thinking, travels to Singapore for four days to explore the city as a potential new market for his expanding company. Tim Kennedy considers why Singapore would be the right place for the firm’s future expansion.
Outsourced direct sales and marketing firm LMS Thinking is well established in three of the most competitive markets in the world; London, New York and Sydney. Now, managing director, Tim Kennedy is considering Singapore as the firm’s next potential expansion in mid 2014. Founded in 2007, LMS Thinking has since expanded across three different continents; Europe, North America and Australasia, and the firm now have big plans to continue their rapid expansion into the growing Asian market.
Entrepreneur and managing director of LMS Thinking, Tim Kennedy traveled to Singapore and spent four days in the vibrant and dynamic city, ‘The last 4 days in Singapore have been amazing. It is a fantastic country that I feel confident LMS Thinking could transition into when the time is right’ says Tim Kennedy.
Singapore is a Southeast Asian island city-state and the most densely populated country in the world. Despite the country’s small size, Singapore has a diversified economy, which the government considers as vital for their growth and stability. Today, Singapore has a highly developed market-based economy, meaning that decisions regarding investment, production and distribution are based on supply and demand.
Since gaining independence in 1963, the Singaporean economy has been growing rapidly and as a result, the country now has one of the highest GDP per capita in the world. Singapore also leads the way in foreign direct investment due to it being one of the freest, most competitive and most business-friendly economies in the world; perfect for expanding firms such as LMS Thinking. ‘Singapore would be an incredible place to expand the firm into’ said Tim Kennedy. ‘It would be another competitive market, like London, New York and Sydney, that would challenge the firm, but the benefits that LMS Thinking would gain as a result would be tremendous for our growth and development for the future’ added Tim Kennedy.
During the time that Tim Kennedy spent in Singapore, he met with contacts to discuss LMS Thinking’s business model and met with potential clients in the Asian market. Clients are an essential asset for outsourced sales and marketing firms such as LMS Thinking. Due to the fact that Singapore has a reputation as a business-friendly economy, well established firms like LMS Thinking should receive a smooth transition into the new market, and with new business clients. Another vital asset is customers. And with Singapore holding the title as the most densely populated county in the world, LMS Thinking have the tools to be extremely effective at acquiring new customers for their new clients. What this space for LMS Thinking in 2014!