One great thing about doing business in Singapore is that the people give more importance to relationships and let the association cement and take shape. This is why entrepreneurs belonging to alien cultures must remain patient to allow the business to grow. In Singapore, successful entrepreneurs use a unique strategy: build relations to build business. Showing respect is also given importance and this is why people call others not by their first names but by calling out Mr. this and that until a relationship has been cemented. If you are giving your business card to another person, give it with both your hands to show respect.
As a business owner, you encounter clients and customers of diverse ethnicities such as Malay, Chinese, Indian, and even Arab and you must learn to respect the sentiments of such ethnically diverse population. This is of course hard for some westerners, but one finds that the most successful of the entrepreneurs are those who learnt the trick in short time. People in Singapore do not believe in flattery and any attempts to flatter are seen with suspicion.
People here also do not like people who boast about their achievements. Even if you are a confident person, do not look into the eyes of another person for a long time as it is considered a sign of being too aggressive. Smoking in Singapore is banned and certainly looked down upon as a bad habit. Drinking is also not taken as a social habit. It is OK to give a gift to a client on being introduced. Last but not the least; punctuality is a virtue that is expected from a businessman in Singapore.