As you might know, Singapore is known as the financial hub of South East Asia. However, it is even more well known as a logistics hub and shipping hub. Because of Singapore being both a financial and logistics hub, the need for high volumes of deliveries in Singapore is tremendous.
However, not many companies in Singapore are actually capable of living up to serving this extremely demanding requirements of companies in Singapore. Couriers are seen running all around Singapore on a daily basis from Mondays to Fridays, especially in the Central Business District, helping companies getting important cheques, documents, parcels delivered on time. Not every courier company is however capable of managing profit margins, hiring employees/contractors and scaling up to meet customer requirements. This is why many courier companies have failed, and only those truly great ones survive.
This is a truly amazing industry to look at, because the attrition rate of small business owners in this industry is so high. Many companies undercharge in a bid to gain new courier business, only to find out that they severely undercharged and could not make a single cent in profit after many months or even a few years, and eventually pull out of the market. This high attrition rate is applicable for both small time entrepreneurs as well as large corporations seeking to enter Singapore’s logistic industry. Unless you have experience and tons of business skills, it’s not an industry which is sexy to enter.
Till date, the remaining courier services companies surviving and thriving in the industry are namely those who are still dominating the service industry. Examples of these companies are www.pcamasters.com/courier-delivery-singapore which have continually re-invested any profits into bettering their customer service support as well as their logistics software systems. Only those who are utterly focused on being the #1 stay there in this brutally competitive industry.