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5 easy ways to improve your company’s website
Your company’s website will likely be making the first impression on a potential new client. That being said, you want to make sure it’s a good one. You know how you tidy up your living room or kitchen before inviting guests over? That’s how you should think about your website. Is it clean? Functional? Easy to navigate? But again, the most important question is will it make a good impression? If the answer is no, or even if you think your website just needs a little tweaking, you’re in luck! These tips below will definitely help you revamp your website. 1. (Re)evaluate your current situation One of the easiest things you can do as a website owner is make sure that all of your content is up to date. Re read over everything! If there’s anything that stands out to you as incorrect or simply irrelevant, delete it. It will seem the same way to a site visitor. If you have an area dedicated to special offers, and those special offers are all outdated, you could risk irritating a potential new client! If you’re opposed to deleting content on your site, consider making some quick edits. 2. Test your design flow Ask […]
5 things to look for in a co-working space
Ahh, co-working space. The bread and butter that is the foundation of many entrepreneurial journeys. You need a place that makes you feel motivated, inspired, and ready to get to work. But what exactly should you look for? 1. Location, location, location As an entrepreneur, you have to make the most of every first impression. Holding meetings in the early stages of your startup is essential. After all, networking is the name of the game. However, as an entrepreneur, you might also be pressed as for where to take a potential new client or business partner. That’s why co-working spaces are a good idea. When you’re picking one, consider the surrounding neighborhood or area. You want to be located in a nice part of town so that you have a place where you can proudly bring back guests! First impressions are one reason why you would want to select a co-working space in a respectable part of town. Other things you should consider are your proximity to food, public transportation, convenience stores, gyms, and the like. You will, after all, be working here! Make sure the space you pick is in an area with lots of nearby amenities to make […]
A 10-step guide on how to start a business in Singapore
Singapore is one of the best countries to start your company. You can define goals to establish a company and provide business services across the world in order to help clients make more confident and informed decisions. For entrepreneurs, building a company is the ultimate dream. However, dreams require action to be achieved. Although many hurdles may stand in your way, you have to overcome them and to pursue your dream with passion. To fulfill your dreams, you have to conquer each and every challenge by facing it properly. Your hard work and dedication towards your goal will help you to achieve it one day. If building a company in Singapore falls within your goal scope, read on to learn how to start a business in Singapore! Step 1: Business Idea First things first, you need a business idea that you can combine with reality. This is your first step towards starting a business in Singapore. Your idea should have the potential to succeed and satisfy a need or offer a service that is wanted or needed by your potential clients’ market. It is important to develop your own unique ideas that serve a purpose or solve a problem. Be sure […]
Best Incorporation services in Singapore 2020 (Bonus Section: Best Business Banking Account in Singapore 2020)
As a startup founder or an entrepreneur, the very last thing you want is getting stuck on that very first step of the journey ie. the incorporation of a legal entity to run your business (in other words, a company). If you are stuck with the countless options out there to incorporate your company, you’re at the right place. It is 2020 and there is still an array of options in the market for incorporation services – from the most expensive package upwards of $1500 to the cheapest package at $350; from private-quotation-only packages offered by traditional brick and mortar professional service firms (such as Rikvin), to convenient online services with minimum face-to-face meeting offered by companies such as Sleek and Osome. Furthermore, on top of the sea of options, don’t forget there is the DIY way of registering your company yourself with the Accounting and Corporate Regulatory Authority (ACRA) using the online portal BizFile+. There is no easy way to quickly compare all the options available as they all include different service items at different price points and discount structure. We know first-hand of many company founders who have spent considerable amount of time doing lots of digging, settle […]
Creating a Sole Proprietorship or Private Limited Company as a Freelancer
When starting your own business as a freelancer, perhaps your first thought will be to register your company as a Sole Proprietorship. After all, that is what the structure is made for, right? It is for freelancers who work alone and wish to keep the administrative side of their business as uncomplicated as possible.
Creating the best workplace environment for your startup
A productive workplace doesn’t mean bean bag chairs, slides instead of stairs and ping pong tables in the break room. A productive workplace is as simple as a place where the members of your company to do their work most effectively. The easiest way to create this kind of space is to look at your company – Who works there? What kind of work do you do? How is your company structured? These are the questions that you need to ask yourself before choosing and curating your space in. Co-working space or a leased office? Co-working spaces are taking over in cities all over the world. It was initially used by freelancers, travelers, start-ups and entrepreneurs but now it’s also used by major Fortune 500 companies. Will this new style of community working push out the traditional office space? Unlikely. Very unlikely. However, co-working spaces are an economical and flexible alternative to the classic leased office space. Pros of Coworking spaces Flexible terms: meaning you can move easily terminate your membership and move to another co-working space, another city, or into a leased office. Community aspect: Many co-working spaces try to facilitate a community aspect by hosting events, having facebook […]
How an online presence can grow your startup
Becoming an entrepreneur means building a business from the ground up. Although starting a business from thin air is rather impossible, it seems as though new companies are launching every day. How do entrepreneurs establish their business before it even exists physically? The answer is by creating an online presence. Creating an online profile for your company establishes your brand in the minds of your potential market before they have a physical encounter with your store. Keep reading to find out why your online presence is important and how to build it. Why your online presence is crucial Research suggests that seven seconds is all it takes for someone to develop a first impression. Which means that your consumers will decide how they view your business within the first seven seconds of their first encounter. By creating an online presence through social media or a company website you can control what your market sees for their first impression. This is called controlled media. Controlled media is what you tailor to reflect your brand exactly as you want it presented. For example, your personal social media reflects only the best parts of your life. Your vacations, your best work, your funny […]
How to get interns for your business
Today, any college student would tell you that going to a university isn’t the golden ticket to getting a good job anymore. Internships and work experience are the most effective ways to get a job post graduation. But What is the best way to find an intern? What are the benefits of having an intern rather than a full time employee? What should you consider in the hiring process? Benefits of hiring interns Cost effective – They are willing to work for free or for a stipend– If they aren’t getting paid the intern is more likely to work part time so they can also work part time at a paying job. Hiring pipeline – From the intern perspective, an internship is not only a way to get work experience but also a possibility of getting a job offer if both the intern and employer mutually find the work relationship beneficial Reduces time and money costs – Hiring someone who has already worked for your company minimizes the learning curve and training time required. – As an employer you already know how they work, their personality and how they fit on your team and in your organization before you commit […]
How to pitch to investors
Every new entrepreneur has one thing in common—the need for money. A popular way to gain capital for your startup is to recruit investors. Whether you are pitching your company to a friend, an associate, or a complete stranger, these eight simple tips will help ensure that investors will be interested in your business. 1. Be a story teller Every company has a story. Your company’s story is comprised of all the reasons you decided to build it. This could be a problem you faced, and experience you had, or even something that inspired you to create your business. Regardless, portraying your business vision as a story provides an emotional attachment that demonstrates to investors how much you care about your startup. 2. Take only ten minutes You can only pitch to investors for as long as you have their attention. Make sure to strategize your pitch by including the important and most interesting information first. If your investor gives you ten minutes to pitch, you should finish in nine minutes. This gives you the chance to answer questions or receive feedback before the investor loses interest. It also helps you to prioritize vital information and avoid rambling. 3. Be […]
Introduction to An Entrepreneur’s Journey
The thought of becoming an entrepreneur has probably entered your mind at least a few times in your life. It sounds enticing but yet perilous at the same time. Its vast unknown seem to be of another world out of your comfort zone, and you wonder if you are able to overcome the challenges on that journey.
Business laws in Singapore
How the government in Singapore helps you succeed
According to the World Bank, Singapore is ranked in the top three out of the one hundred and ninety in Ease of Doing Business, Overall Rank of a group, and Starting a Businesses. Moreover, in the US News Global report, Singapore is ranked second in the mover’s subcategory. This represents the country’s growth in terms of an individual’s purchasing parity corresponding to the GDP. In 2014, the Economist Intelligence Unit ranked Singapore, regionally and globally, as the most attractive investment location. How did Singapore become one of the world’s leaders in business and entrepreneurship in less than a century since its independence from Malaysia? Government Interferences The government strongly supports businesses by creating an environment where they can thrive. They are very inclusive of businesses from foreign, local, developed as well as start-ups. They foster this environment with highly appealing tax framework, many trade agreements, programs that help connect companies to other local and international companies, and create a sense of community. Tax Framework Singapore’s tax framework has denoted the country to the status of a “tax haven,” joining the ranks of countries such as Luxembourg, Switzerland and the Netherlands. Generally, the criteria for a tax haven is a nominal […]
Setting Up a Private Limited Company in Singapore and Avoiding Mistakes
Setting up a private limited company in Singapore is an excellent option for the startups and small business owners. It provides them with limited personal liability, credible brand image, ability to raise funds for future expansions, access to tax exemption schemes, etc. And, a Pte Ltd, unlike a proprietorship or partnership, has perpetual existence.
Singapore’s Foreign Policy and Fair Business Environment
Fair and Just Process Singapore is one of the safest places to do business. Corruption remains consistently low and the country’s foreign relations with other countries in terms of business and taxation is almost unmatched. Everything from startups to major headquarters thrive in this business atmosphere and feel secure in their investments and that they are treated equally. In this amazing city-state, it does not matter whether you are public or private sector. Every individual is held accountable to the same standards of doing business. This also applies to wealth and citizen status. The Singaporean government remains fair in the way they treat individuals from accepting cases to convictions. Here, businesses know that if they report a problem, the government will review the case and handle it accordingly. In 2016, the conviction rate for bribes and other unethical business activity was 100% in Singapore, and it continues to have a successful and consistent conviction rate of 97% and above. This clean and ethical way of doing business has been a critical point for Singapore throughout their history. This has done wonders for their economy as it makes entrepreneurs and major investors feel free to start businesses and trust that it […]
What is the Easiest Way to Register a Company in Singapore for a Foreigner?
Singapore is a highly urbanized place that attracts foreign investors on the strength of its stable currency, vibrant investment & corruption-free climate, and tax benefits. Many of them prefer to start their business by registering a private limited company. A private limited company (Pte Ltd) is a business structure that offers limited liability. It has a separate identity. It is a legal person responsible for its debts and liabilities. There are other business structures too, like Sole Proprietorship and Limited Liability Partnership. Learn all you need to know about how to register a company in Singapore by reading on. Is it Easy for a Foreigner to Start a Business in Singapore? There is only one way to register a company in Singapore for a foreigner. The foreign entrepreneurs must hire experts from an experienced Singaporean company that specializes in providing registration services for the task. The experts advise you on the criterion set out by the Company Registrar, i.e., ACRA (Accounting and Corporate Regulatory Authority). They also advise you on the work passes that you need to work in Singapore along with the incorporation documents that you need to submit to the authorities. There are also a few post incorporation […]
What you need to know for various business licenses in Singapore
A lot of businesses in Singapore actually do not need a license. However, these exceptions include mandatory, occupational and business-based licenses. Oftentimes, a license can take from a few days to two weeks or as late as two months. Make sure you plan ahead of time when you want your license. Certain licenses may take a longer time due to the need for approval from more than one authorities depending on your business type and some may also need you to do a physical site visit. You will most likely need a different license if you plan on operating in different sectors now or in the future. Here is a list of different business industries that require a license in order to operate in Singapore. Construction A construction license required not only licenses but also permits and approvals. If you want to hire foreigners, a construction company would need to apply through the Ministry of Manpower (MOM) for a work permit. Before you apply for a license, your company must have been registered under these categories: limited or unlimited company. Otherwise, a multi-disciplinary and a limited liability partnership. Trade The import and export of every good that is going in […]
Incorporate!
1.4.1 Why should I incorporate my business in Singapore?
All set and ready to go? The next step would be to make it all official by incorporating your business and turn it into a legal entity! But you may have a question in mind. Why should I incorporate my business? Why can’t I continue doing business without incorporating it? Well, in this article, we will explain to you exactly why you should incorporate your company in Singapore. Protecting personal assets This applies to LLCs and Private Limited Companies. However, sole proprietors can apply to change their business structure to one of those. To learn why you should do so, here is a link to an article written about the topic. As a business owner, incorporating your business will make sure that you are not liable for any lawsuits or claims against the business entity which you have registered. It is a separate entity from yourself and thus if your business goes into deep debt, your own personal assets like your car and house cannot be affected. The company’s debt only belongs to the company. Credibility Legitimising your business and making it official adds instant credibility and authority to your business. Plenty of people will not do business with a […]
Benefits of Incorporating in Singapore in 2023
Singapore has long held a reputation as one of the world’s leading hubs for business and innovation. As we step further into 2023, this island city-state continues to beckon entrepreneurs and investors from around the globe. But what makes Singapore such a magnet for business-minded individuals? In this article, we will dive deep into the myriad benefits of incorporating in Singapore this year, focusing on its business-friendly environment and exceptional tax advantages. 1. Strategic Geographical Location: Nestled at the crossroads of major shipping routes, Singapore offers unparalleled access to the booming Asian markets. This strategic positioning allows businesses to effortlessly tap into the vibrant economies of neighboring countries, making it an optimal base for regional operations. 2. Robust Legal and Regulatory Framework: The government of Singapore has always prioritized a transparent and reliable legal system. Businesses can operate with the assurance that contracts are upheld and intellectual property rights are protected. This robust legal framework fosters an environment of trust and reliability, essential for business growth. 3. Unparalleled Tax Advantages: Corporate Tax Rates: One of the primary appeals of Singapore is its competitive corporate tax rates. Companies can enjoy a headline corporate tax rate of merely 17%. Furthermore, new startups […]
Best Incorporation services in Singapore 2018
When you want to enlist the services of an external company to incorporate your business, you might be spoiled for choice. There are so many corporate service companies in Singapore that offer incorporation packages that it is almost dizzying. We here at InCorporate.sg would like to simplify that experience for you. Based on user feedback and reviews, we have complied a list detailing the best incorporation services in Singapore for 2018.
Best Incorporation services in Singapore 2019
When you want to enlist the services of an external company to incorporate your business, you might be spoiled for choice. There are so many corporate service companies in Singapore that offer incorporation packages that it is almost dizzying. We here at InCorporate.sg would like to simplify that experience for you. Based on user feedback and reviews, we have complied a list detailing the best incorporation services in Singapore for 2018.
Best Incorporation services in Singapore 2020 (Bonus Section: Best Business Banking Account in Singapore 2020)
As a startup founder or an entrepreneur, the very last thing you want is getting stuck on that very first step of the journey ie. the incorporation of a legal entity to run your business (in other words, a company). If you are stuck with the countless options out there to incorporate your company, you’re at the right place. It is 2020 and there is still an array of options in the market for incorporation services – from the most expensive package upwards of $1500 to the cheapest package at $350; from private-quotation-only packages offered by traditional brick and mortar professional service firms (such as Rikvin), to convenient online services with minimum face-to-face meeting offered by companies such as Sleek and Osome. Furthermore, on top of the sea of options, don’t forget there is the DIY way of registering your company yourself with the Accounting and Corporate Regulatory Authority (ACRA) using the online portal BizFile+. There is no easy way to quickly compare all the options available as they all include different service items at different price points and discount structure. We know first-hand of many company founders who have spent considerable amount of time doing lots of digging, settle […]
Best Online Incorporation Services in Singapore
On a previous post, we talked about the top 5 incorporation services (online plus offline) in Singapore. On today’s post, we will be talking about the best online incorporation services in Singapore specifically. An online incorporation service make use of technology such as e-signature and digital forms to complete the entire registration process online. This allows customers to not have to travel and save time. Osome First up on our list is Osome. This innovative company focuses on using technology to simplify the tedious administrative tasks that all entrepreneurs have to go through. They provide company incorporation, accounting and secretarial services in Singapore. Osome is the first company in Singapore that uses an app for incorporation services. Customers use their in-house mobile app to talk directly to Osome assistants, send invoices and sign documents. If you are looking for a simple and convenient solution for incorporation, be sure to checkout Osome. They offer free consultations on their website. AI Accountant AI Accountant provides incorporation and other services at very reasonable prices. Just like all other companies in this list, AI Accountant also incorporates your company for you entirely online. They provide 24/7 customer support and promises fast processing time. However, […]
Four reasons to incorporate your business in Singapore
In 2016, Singapore was ranked as the best country for doing business in a survey by the World Bank for 10 consecutive years. According to the 2019 Economic Freedom Index, Singapore has the second most free economy in the world with an economic freedom score of 89.4. These accolades have been the result of a combination of economic principles that make Singapore one of the most attractive places to incorporate a business in the world. Here are four reasons why business leaders should consider expanding operations into Singapore: Singapore is one of the easiest and most efficient places to incorporate Singapore has straightforward and simple requirements for incorporating a business. In many cases, a business can incorporate in Singapore in just one day. Additionally, the Singapore government encourages both local and foreign-owned business growth by offering grants and other incentives. Singapore has many investment and venture capital firms that seek to help fund startups. In addition to these grants and incentives, the government also has an attractive tax framework. If a company has a profit of S$300,000 or less they essentially have a tax rate of 8.5%. Profit above S$300,000 have a tax rate of only 17%. Singapore presents one […]
Guide to a Start Business From Home in Singapore
Are you getting tired of the 9-5 work schedule? Many of you are probably wondering what you need to do when you start a business from home. Well, it is a lot simpler than it seems! There is an increasing number of people in Singapore are turning to home-based businesses. Here are a few guidelines that may help you. Home-Based Business #1 There are 2 types of home-based business schemes. The first type has to be a really small business that cannot resemble a regular retail store. The best part is that you do not need a license, but there are a lot of restrictions. This includes no advertisements allowed, such as online ads and flyers around the neighborhood. Therefore, the word-of-mouth method is the only and best marketing function you can use. You may not hire people, such as assistants. Your business should not affect the neighborhood in any way, such as high traffic of people, the use of heavy equipment or move goods for your business. The purpose is to solely supplement your income. For example, you can bake, but cannot turn into a bakery. You can also teach, but no more than 3 students at once. However, […]
How to convert your Sole Proprietorship into a Private Limited Company
What is a Sole Proprietorship Legality The business is not a separate legal entity from the owner. This means that the owner will have to assume responsibility of any failings or debts accumulated by the company. Under the law and public eye, the company and the owner are one entity. Taxes The Inland Revenue Authority does not recognize sole proprietorships in its definition of a company. Therefore, business run under a sole proprietorship have their profits subjected to personal tax rates. Personal tax rates range from 0-22% while effective corporate tax rates range from 0-17%. The lack of inclusion in the definition also means that sole proprietorships do not benefit from tax exemptions and incentives. Risk A sole proprietorship structure is most suited for low risk businesses because it does not protect the owner from liabilities. This is why corporations generally do not operate under this structure. Perpetuity Due to the fact that the business is not a separate legal entity from its owner, if the owner were to turn away from the business or die it would no longer exist. If a family member or chosen successor were to take over the business they would not be able to […]
How to Incorporate a Company in Singapore in 2024
Thinking of starting a business in Singapore in 2024? We’ve got your back with a simple step-by-step guide to make the process a breeze.
Taxes – Questions and Answers
2023 Tax Changes: A Comprehensive Guide to Business Tax Laws in Singapore
As we navigate the complexities of business operations in 2023, it’s crucial to be apprised of the latest amendments to Singapore’s tax laws. With a reputation for maintaining a pro-business environment, Singapore frequently revises its taxation policies to reflect global economic conditions and domestic priorities. This guide outlines the pivotal tax changes that businesses operating in Singapore should be aware of in 2023. 1. Revised Corporate Tax Rates: In an effort to stay competitive on the global stage, Singapore has adjusted its corporate tax rates. While the headline rate remains at 17%, the government has introduced [specific tax reliefs and rebates for certain business categories]. Ensure you check the eligibility criteria to capitalize on these incentives. 2. Enhanced Tax Deduction Schemes: 2023 saw the enhancement of [specific tax deduction schemes], allowing businesses to claim deductions for [particular business expenses]. This move is aimed at promoting [specific sectors/activities] and should be leveraged by businesses falling under these categories. 3. Modifications to Double Taxation Agreements (DTAs): Singapore has always been proactive in establishing DTAs with multiple countries to facilitate international business. This year, revisions were made to agreements with [X, Y, and Z countries], introducing changes in [specific provisions], ensuring businesses do […]
Startups in Singapore
The Workforce Singapore is the perfect environment for startups. Entrepreneurs from all over the world choose this beautiful country as their headquarters or startup location for good reasons. Man power is one of Singapore’s greatest strengths so it is no wonder why productivity here is through the roof. With around 5.6 million people, the work force has an abundance of hard workers ready to put their mind to the task. People here have a strong desire to be a part of and influence the fast and constantly innovated way of doing business. The World Bank recognizes Singapore as the best producer of human capital. This is also because the country cares immensely about education for K-12. They strive to prepare them to reach above and beyond expectations. In short, this workforce is born ready for startups. Singapore also recognizes the advantages of foreign talent and intelligence and is welcoming to hard workers worldwide. Singaporeans are extremely efficient and analytical while a lot of foreigners who immigrate here are very creative and open minded. The city-state has a very liberal immigration policy to allow this foreign talent access. Entrepreneurs can get a working visa to incorporate a company and then also […]
Trade in Singapore
To start, Singapore is a free-market economy. This means that good and services are priced based on the willingness of the consumers, not the government. Supply and demand are not intervened at all by the government either. Free Trade When it comes to free trade, Singapore is known as the most open in the world. This is one of the many reasons that entrepreneurs choose this country to start their businesses. The trade and government in this country is also in the top three for least corrupt. When doing business with other countries, and even just nationally, this is critical. No one wants to do business in a place where government bribes or wealth status are the only way to work. Singapore is one of the most pro-business places in the world and work very hard to encourage startups and fund them to see them thrive. The government provides a plethora of funding, tax breaks, and other services to help startups in their first few terms to make an impact in the world of business. They also have deals with over 50 countries to avoid double taxation. Stable Market Singapore has a very stable market and currency. This is why […]
Relocate to Singapore
Best Incorporation services in Singapore 2020 (Bonus Section: Best Business Banking Account in Singapore 2020)
As a startup founder or an entrepreneur, the very last thing you want is getting stuck on that very first step of the journey ie. the incorporation of a legal entity to run your business (in other words, a company). If you are stuck with the countless options out there to incorporate your company, you’re at the right place. It is 2020 and there is still an array of options in the market for incorporation services – from the most expensive package upwards of $1500 to the cheapest package at $350; from private-quotation-only packages offered by traditional brick and mortar professional service firms (such as Rikvin), to convenient online services with minimum face-to-face meeting offered by companies such as Sleek and Osome. Furthermore, on top of the sea of options, don’t forget there is the DIY way of registering your company yourself with the Accounting and Corporate Regulatory Authority (ACRA) using the online portal BizFile+. There is no easy way to quickly compare all the options available as they all include different service items at different price points and discount structure. We know first-hand of many company founders who have spent considerable amount of time doing lots of digging, settle […]
Four reasons to incorporate your business in Singapore
In 2016, Singapore was ranked as the best country for doing business in a survey by the World Bank for 10 consecutive years. According to the 2019 Economic Freedom Index, Singapore has the second most free economy in the world with an economic freedom score of 89.4. These accolades have been the result of a combination of economic principles that make Singapore one of the most attractive places to incorporate a business in the world. Here are four reasons why business leaders should consider expanding operations into Singapore: Singapore is one of the easiest and most efficient places to incorporate Singapore has straightforward and simple requirements for incorporating a business. In many cases, a business can incorporate in Singapore in just one day. Additionally, the Singapore government encourages both local and foreign-owned business growth by offering grants and other incentives. Singapore has many investment and venture capital firms that seek to help fund startups. In addition to these grants and incentives, the government also has an attractive tax framework. If a company has a profit of S$300,000 or less they essentially have a tax rate of 8.5%. Profit above S$300,000 have a tax rate of only 17%. Singapore presents one […]
Incorporating a Company in Singapore
Singapore is a beautiful city-state that is known to have a thriving business culture. Because of its close proximity to other countries within Asia, it naturally has become the center of international business, said to be hosting over 30,000 international companies. This fact not only attracts businesses to set up in Singapore, but foreign investors looking for suitable companies. According to studies, the country has noted around 70 thousand US dollars in direct foreign investment. A government that is against business and going through turmoil is not an ideal place to incorporate a business, but Singapore’s government is known to be quite stable and also supports businesses with the thought of them helping the country thrive. With the help of the government, a company can incorporate in Singapore with as little as 1-2 days. Due to this and the country’s solid financial system, Singapore is able to host and welcome individuals and corporations that want to incorporate their business in the city-state. The idea of Singapore being a keen location for international business does not only stem locally, but is ranked internationally of many titles such as 2nd in the world as a country to easily do business […]
Reaching beyond the demand
Introduction Due to the Competition & Consumer Commission Act of Singapore (CCCS). With a large competition platform, it is hard to differentiate yourself. In this blog, I will discuss the importance of reaching beyond existing demand to maximize profits. Given Singapore’s popular industries and types of customers, you will be able to take your organization to the next level. Finding the right target market can be draining. But with correct research, it can be achieved. It is crucial to find your place in a county that hosts six million people. With so many people, comes a wide range of demands. It is up to organization to meet these demands and create a personal connection with its consumers. Consumers invest in organizations by why they do something, not on what they do. For more information about the CCCS and how it affects your organization click: https://www.incorporate.sg/legal/anti-competition-act/ Singapore and its industries Singapore’s greatest industries consists of manufacturing, retail, finance, infrastructure, and information technology just to name a few. With manufacturing being its biggest. Which include: electronics, chemicals, biomedical sciences, logistics, and transport engineering. Retail is also up and coming. Many locals and tourists are shopaholic. Singapore has three main […]
Singapore: The Future for Entrepreneurs
Business is growing substantially in Singapore, as is evident by being ranked in the top ten places for businesses in the world by Forbes in 2018. Entrepreneurship thrives on that growth and luckily incorporating a business in Singapore can be very simple. In fact, it only takes 24 to 48 hours to incorporate companies in Singapore in most cases. This might be due to the help of the government and service companies who walk entrepreneurs step by step through the process. However, there is much more Singapore has to offer entrepreneurs than just fast and efficient processing times as it has been titled number one on World Bank’s Ease of Doing Business survey. Singapore provides low taxes, talented workforce, a pro-business government, geographical advantage, and modern infrastructure across all platforms making it the perfect place for entrepreneurs. Just one example of Singapore’s vast potential can be found in Block 71. Here, over 100 start-ups and venture capital firms gather to make the most populated entrepreneurial ecosystem. In this block is also over 30 funding and support firms ready to take on new start-ups. Powering this system is a diverse, well-trained, highly educated, and dedicated workforce along with a corruption resistant […]
Trade in Singapore
To start, Singapore is a free-market economy. This means that good and services are priced based on the willingness of the consumers, not the government. Supply and demand are not intervened at all by the government either. Free Trade When it comes to free trade, Singapore is known as the most open in the world. This is one of the many reasons that entrepreneurs choose this country to start their businesses. The trade and government in this country is also in the top three for least corrupt. When doing business with other countries, and even just nationally, this is critical. No one wants to do business in a place where government bribes or wealth status are the only way to work. Singapore is one of the most pro-business places in the world and work very hard to encourage startups and fund them to see them thrive. The government provides a plethora of funding, tax breaks, and other services to help startups in their first few terms to make an impact in the world of business. They also have deals with over 50 countries to avoid double taxation. Stable Market Singapore has a very stable market and currency. This is why […]
What Small Business Owners need to know about Budget 2018
With the release of Singapore’s Budget 2018, Small and medium-sized enterprises (SMEs) in the country have plenty to rejoice. If you are a small business owner, it will do you much good to read up on the support the government can offer you
What you need to know for various business licenses in Singapore
A lot of businesses in Singapore actually do not need a license. However, these exceptions include mandatory, occupational and business-based licenses. Oftentimes, a license can take from a few days to two weeks or as late as two months. Make sure you plan ahead of time when you want your license. Certain licenses may take a longer time due to the need for approval from more than one authorities depending on your business type and some may also need you to do a physical site visit. You will most likely need a different license if you plan on operating in different sectors now or in the future. Here is a list of different business industries that require a license in order to operate in Singapore. Construction A construction license required not only licenses but also permits and approvals. If you want to hire foreigners, a construction company would need to apply through the Ministry of Manpower (MOM) for a work permit. Before you apply for a license, your company must have been registered under these categories: limited or unlimited company. Otherwise, a multi-disciplinary and a limited liability partnership. Trade The import and export of every good that is going in […]
Why is Doing Business in Singapore better than Hong Kong?
Singapore and Hong Kong have always been competing in ranks for being the best place to do business. Both of these locations
Work Passes You Need To Setup Your Business In Singapore
In an earlier post, we spoke about the benefits of setting up your business in Singapore. If you are convinced and have decided to set up shop in Singapore, the next step is to figure out how to do so. In this post, we will help you figure out the passes you need for yourself, your family and your employees. For yourself (the business owner): Entrepass The EntrePass is meant for eligible foreign entrepreneurs who are setting up a new business in Singapore. It is open to all nationalities and there is no stipulated minimum salary. However, there is a requirement that you have started or intend to start a private limited company registered with the Accounting and Corporate Regulatory Authority (ACRA). Read our complete guide on how to set up a private limited company in Singapore here. We help entrepreneurs register their business in 24 hours, click here to find out more. For your family: Dependant’s Pass This is the pass you need to bring your spouse and children with you to Singapore. It is valid for 2 years, and available for renewable thereafter. Long Term Visit Pass This pass allows you to bring […]
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