If you are from Singapore and you want to form a Singapore company, it will not be extremely difficult. Basically, what you will have to do is getting an approval from the Accounting and Corporate Regulatory Authority in Singapore (and this also includes paying for the S$65 registration fee).
However, if you are a foreigner, things are more complicated when it comes to business registration. First, you will have to get a visa that is suitable for starting a business in Singapore. Then, you will have to make sure that you meet all the requirement of setting up a business there. Further on, you will have to actually register your business (as a branch of a foreign company, as a representative banking and insurance office or as a representative of other industries).
Setting up a business in Singapore may actually be the easiest part of the entire story. The hardest part will be maintaining yourself on the market as a SME (Small to Medium Sized Enterprise) and making profit. To make sure that you form a Singapore company that will be actually successful, try to apply the following tips.
First of all, do not be an “all-action” kind of entrepreneur. Plan ahead every detail of your business and make sure that everything is in order. Furthermore, always remind yourself to make a SWOT (Strengths-Weaknesses-Opportunities-Threats) analysis. Do it both for yourself as an entrepreneur and for your business. Moreover, do it for your competitors as well, and analyze which are the gaps they are leaving in the market and which are the points on which you can do better than them.
Secondly, accept the fact that business environments change and that the Singapore one makes no exception to the rule. It may seem difficult to comply with the changes of the Singaporean Government, but keeping yourself focused can help you achieve your goals.
Thirdly, pay a lot of attention to your cash-flow. This is one of the most important aspects of any business and it could literally make or break it in a short amount of time. Be careful with your credit policies and try to do everything to receive payments on time (and this also includes taking into consideration the fact that large enterprises need more time to process invoices, which could mean a late payment for you). Also, stick to your promises when it comes to deliveries and do not try to take in more than you could handle (since this will eventually mean that you will be late with a delivery and that could also mean that you will not receive your invoice).
Furthermore, try to stretch your own payments as much as possible, since this can actually be considered to be a form of interest-free credit. Also, make sure that your stock does not exceed your demands and bear in mind the fact that leasing is always better for SMEs (because it can help your cash-flow and it can be considered to be tax-deductible as a business expense).
Last, but definitely not least, keep your employees happy. You may not be able to give them the highest salaries possible, but compensate this with various types of benefits, with treating them respectfully and with constantly reminding them how important they are for the company.
3 Keys If You Want to Look Better
Are you generally happy with your look these days? In the event you said no, what steps can you take...
What Can You Do to Strengthen Your Business?
Operating a business means you have a lot of weight on your shoulders to say the least. With that in...
Should You Buy Real Estate At The End Of 2020
Experts analyzed the prospects and possible scenarios for the development of events. Residents of the US are warned about the...
How To Be A Confident Person
Attractive, confident, funny, charismatic. These are some characteristics that define an alpha individual. While we all know what the goal...
Why Do Cats Get Diarrhea?
If you’re a pet owner, then you’ll know that one of the most common problems you need to deal with...
Common Reasons For Visiting An Orthopaedic Surgeon
Have you suffered regular knee or back pain? Do you feel tired or stiff for a long time after resting...
Best Wholesale Beauty Product Suppliers In 2020
Beauty products include a range of goods that are used to care and enhance the appearance of your face, hair,...
Big Things A Digital Marketing Business Conducts
The customary word “ad” is defined as a communication procedure between the group of onlookers and the imminent business moving...
International Shipping In A Global Pandemic
The Covid-19 pandemic completely turned the world on its head, in more ways than one. Beyond the devastating medical challenges,...
8 Ways To Reduce Stoke Risk
Stroke is the fifth leading cause of death in the United States. To help you understand how severe and common...
Top Whey Protein Recipes To Lose Your Body Fat
Losing weight and keeping the kilos off is not an easy thing to do. Everything from what you consume to...
5 Amazing SEO Tools to Spy On Your Competitor’s Website
So, you’re running an online business, and you surely want your business to get the best results. But, there are...
Keep .eu Domain After Brexit
Domains are becoming as essential as someone’s own home in the world of internet. Internet users are always looking for...
How To Use Apple Cider Vinegar With Mother To Maximize The Health Benefits
Apple cider vinegar is used in many different household chores like floor washing, cleaning, doing dishes, vegetables and fruits washing,...
8 Tips from Dermatologists For Gorgeous Skin
We all wish of a flawless and glowing skin, but it’s not always easy to figure out the skin care...
- Tech5 years ago
Creating An e-Commerce Website
- Tech5 years ago
Design Template Guidelines For Mobile Apps
- Business5 years ago
The Key Types Of Brochure Printing Services
- Travel8 years ago
Who Else Wants Also Nfl Hat
- General5 years ago
Kobe Bryant With His Unique Nba Jerseys
- Tech5 years ago
Climb Google Using These Checklists
- Tech6 years ago
Why Small Businesses Can't Ignore Mobile Technology
- Health7 years ago
Health Supplements For Sports Activities Nutrition