Small Business & Entrepreneurship - Coursework Example

Medical Services Tourism is not without many business risks, including high levels of competition from intermediary companies designed to help consumers plan itineraries for medical services. There are also risks to the client that must be considered, including ensuring that they fully understand their own health risks so as to secure liability factors for the business itself. In terms of strategic objectives, a comprehensive risk management system must be developed. However, outside of these risks, profit potential is quite considerable due to the large customer demand that exists in many different foreign countries.

Singapore was chosen as the country to launch the new Medical Services Tourism company because of its award-winning infrastructure, the ability to raise new capital through a variety of means and even for the education system that can provide quality employment for the business by skilled professionals. Singapore is ideal for Medical Services Tourism and this business plan provides a comprehensive plan for the launch of the company. Medical Services Tourism is a start up company with an onsite facility for receipt of travellers and to satisfy their inquiries on medical tourism.

The company will gain profit from several different business activities related to the tourism industry in Singapore. Medical Services Tourism will act as an agent that facilitates tourism of international citizens looking for quality and affordable health care that they might not be able to achieve in their home country. The agency will have tie-ups with hospitals in not only Singapore, but other foreign countries. The agency will coordinate patient transfers that it receives from overseas hospitals and acts as a referring agent to cost-effective local hospitals in Singapore based on their own unique needs.

The agency will make profit by charging commission on these