What business should you start in Singapore

Are you planning to run a business and you are a young start up founder in Singapore?

Singapore is one of the best places to start up a business snow because of the government support that you can get and also the wealth of funds based in Singapore looking for the next Facebook and instagram.

But starting a tech business is tough , so we are planning to make suggestions for you to start your business journey and give you some pointers.

In Singapore Starting a tech company is tough, there is a lack of very good engineers and most startups will be looking for young engineers with very little experience. That being said there is also the issue of high manpower cost in Singapore, Technology start up do get lots of start up funding from the government and also venture capitalist and this allows the startups to cover those short fall up by being able to employ more qualified and probably older tech professionals to assist. The market in Singapore is small , so if you are looking at reaching out to the consumer market you may be in a state of low outreach because there are just not that much people to reach out to for your business.

Starting an education business is good money in Singapore, this is because Singapore is a very meritocratic country and doing well in school is a must to get good jobs or to have jobs with the government and this allows you to charge high rates for tuition classes or for supplementary educational documents for them. If you are able to deliver good results, you are prepared to get even more attention from the customers.

Food business may seem easy to do in Singapore but you may have a shock of your life. Manpower is hard to come by and if you are in the sector of food and drinks, the long hours will discourage the young from assisting you with the workplace. You have to pay really top dollar to get them and this is something not all start ups can afford and would definitely discourage many people from taking this up.

One should explore consultancy in Singapore, there are many old business owners who are not able to catch up with the times and if you are able to bring their companies into the 21st century and solve their problems and allow them to still run their business well and bring good income, it will mean that they can pay you top dollar to continue to consult them.

 

 

 

Find out how to be a successful businessman

Are you intending to run a business of your own and call yourself the boss. Set your own times and do what you want when you want it?

Starting a business may seem fun and free but it is not as easy as you think and for the start up founder, the first few years might be the tougher parts of the journey and you may have to take many leaps of faith to reach your goals and achieve what you set out to achieve. Financial goals are set and with a strong pair of hands and a clear vision, business can be run with great success. So there are some skill sets that successful businessmen have in common so what are they?

 

1. Clear Vision for the business and themselves

The saying goes, those who fail to plan, plan to fail. If you are someone who is looking to run a successful business then it would be great for you to have a plan in mind and work towards achieving the goals you set out for. You need to be able to set short and long term goals and set your sights onto it and work towards it, motivation for your colleagues and staff is also core if you have the vision clearly in your mind. This will allow you to have laser focus on what you want to do and be able to do it well and do well to the point of achieving your long term goals.

 

2. Have a product that is easy to explain and easy to push out

Try not to do something that is not very commonly use, because the cost of your trying to teach someone how to use something and to do something might cost you more than you will be receiving from the customer. The product should be easy to understand and this will lead to better working with the client to deliver the highest quality of services.

3. Strong determination

Having a strong and determined mind is what is key to all successful business owners. You must be able to work through all the tough times to earn what you want to earn and to achieve what you want to achieve

All the best !

What to take note when starting up business

Are you intending to become an entrepreneur in Singapore.

Do you have the dream of being your own boss and deciding how you are going to spend your time in your business and growing something that you can call your own.

There has been a strong entrepreneurial push in this recent years and Singapore is moving strongly towards entrepreneurship and starting up their own businesses.  This is something that has not been naturally a  Singaporean thing and this has also allowed a number of interesting startup founders to start interesting business and business concepts here in Singapore.

What are the things you should be aware of or to watch out for then.

1. Singapore has very tough employment environment

Its not easy to find cheap and good talents. Good yes, you are able to find highly trained and educated work force in Singapore but they don’t come cheap. Singapore has always been in a very good conditions of employing foreign cheap labour but with the recent elections losses, the government is making it tough for businesses to employ non locals and this is something everyone has to watch out for as the cost of starting and running business here will be way higher than before.

2. Singapore has a very small market

Singapore has only 5 million people and this would mean that consumer markets are small and targeted, if you are looking to target the general public for your products, it may not be that easy to push this products to them. For the maximum growth, business have to think regional or global from the day they are operating and this is something that they have to watch out for when they are operating as a business in Singapore. They should also raise money with the thoughts of the world economy in their hands.

 

3. Singapore has strong presence in trade and finance

There are very few other products that can grow well in Singapore. Singapore is based as a main trading hub so services and products that assist in this fields will be able to grow and do well. Whereas if you are building fashion apps or products it may not be that easy to get a strong foothold here because the business community do not require that as much as other products

Find out more about doing business in Singapore today.

Why you should start a business in Singapore

Singapore is one of the leading economies in the world, positioned well in the middle of south east asia, the leading engine of growth for the next decade, Singapore is the financial centre for the region and this makes Singapore one of the best places to start up a company to operate your business either locally or overseas.

The few reasons are obvious, low taxes, high level of education of locals and how easy it is to operate and run a business in Singapore itself.

1. Singapore has one of the lowest taxes when it comes to corporate taxes, at 17%, you would barely  need to pay much tax as compared to the western world and for the first $300,000 of it , you can actually get quote good tax exemptions which mean you pay almost no taxes for the start, especially so during the start up phase and this is very lucrative for businesses who are looking to grow their business and getting tax incentives to do so.

There are also no capital taxes, so any capital gains are not taxed so if you invest in Singapore or if you buy property and sell it eventually you do not have to incur any taxes but instead get to keep all of the money you made.

2. Singapore has one of the best education systems in the world and there are a large percentage of high qualified persons in singapore, if you are looking to set up a financial company in Singapore. Graduates coming from the top 3 universities are internationally recognized and they are also well exposed through international internships and exchanges. This also allows them to work well with people from around the world. Singapore also have strong practical and technical skills schools that prepare those that are less academically capable to be able to contribute their best to the economy.

3. Singapore is one of the best place to set up shop. Incorporation of businesses can be done within the day and your licenses can be achieved within a few days or at most a week. The requirements are clear cut and there is a no no when it comes to bribery, so you do not need to worry about having to fork money out just to curry your way to a project. Hard work is always appreciated in this economy.

Come to singapore to start up now !

Why you need a corporate secretary in Singapore

Corporate secretary are paid persons or employees in the company. The corporate secretary has multiple duties for the company and should be someone who is experienced in the field to prepare the documents required by the company and also for the directors who they will be acting for and in place of when they file for their business related transactions. Corporate secretaries are also the best person to advice you when it comes to governance related duties that you need to perform. As an executive director, the director may not be aware of deadlines that needs to be checked and reported for. Corporate Secretaries fill this gap and assist with the filing and also preparing of documents to ensure that the filing is done in a legal way and also fitting for the running of the business.

 

Corporate Secretaries are also very good companions to have in a business, corporate secretaries are the ones with good understanding of the companies act, when you are planning to make a big purchase or intend to move into a field where you are not familiar, why not consult the corporate secretary for help.

Corporate secretaries are also responsible of keeping the files of the company

Find a reliable corporate secretary: http://www.shkoh.com.sg/

Why you should outsource your accounting services

Accounting is an age old profession. Accounting is also one of the key professions in the world. Where there are humans you will require doctors and where there are businesses, you will require accountants.

Accounting is easy to pick up for the basics but when it comes to things like compiling financial reports and taxation services, you are still required to find someone who is professional to do it so that you do not make any big mistakes and have issues with the government agencies.

So why should you outsource your accounting to professionals instead of covering it yourself?

1. Time is precious,you should focus on sales

As an entrepreneur, you should focus more of your time on sales and bringing in the money, when you are not doing that, even if you ave the best skills in everything else is useless because you are just wasting your time and not bringing the money which is the point of running a business or even if money is not a thing for you. Money is needed to keep the operations of the business going and you will require some money to roll the business and go on. Every second you spend on closing the next deal or just to find more leads for the business, the more likely your business will succeed, if time is spend on doing accounts, you are not doing your job and that is not good for the business.

 

2. You are not familiar with the latest tax rules

Tax rules and accounting rules change all the time, even if you are accounting trained in school does not mean that you know the latest rules and are able to comply with the new rules. With an outsourced accountant, you will be able to bring about high quality of services that will be able to help you to cover the regulatory requirements and also to save you time on reading up and finding out what are the new rules that are in place right now. Accountants have either titles or qualifications that they need to keep and this is something that you can hold to them to produce the work that they will have to promise you to cover.

 

3. Outsource accounting is more value for money

 

If you are working on it, your time is the money, when you employ a full time accountant in the company, that is salary paid. You do not need to incur this cost, because outsource accounting firms will have talents in their midst and they produce high quality work for multiple companies and they are paid at a fix rate. This is something that you can consider when you employing someone just for the task. The monthly salary can be a couple of thousands but when you look into what you need to cover when it comes to accounting work. Employing someone outside of the system may be cheaper.

 

Visit this site now: http://www.shkoh.com.sg/