Contrary to popular belief, facing bankruptcy in Singapore is not a rare scenario. According to the country’s Ministry of Law, an estimated 1,800 persons fall into bankruptcy annually mainly as a result of overspending, unemployment, and business failure.
Blogs about corporation startup tips, accounting and taxation basics.
Well-organized and accurate financial reports are the guarantee for smooth and effective business operations. Small businesses can use simple bookkeeping software to keep finances under control. But for large or expanding business, keeping track of your finances and doing all taxes will not be a piece of cake.
Settling into a new job, discovering new places, getting to know the local community – these are the thrilling aspects of relocating to a new country. Amidst the excitement of moving to Singapore, expatriates should be mindful of their administrative duties which include tax matters.
The 60 comprehensive Double Taxation Agreements (DTAs) and 7 limited ones in force answer the question why Singapore is truly a leading place to do business. With a DTA, the two treaty countries see a reduction in tax barriers for areas such as cross-border trade flows, investment and technical expertise.
Singapore business environment is on the upswing. Based on the latest Business Optimism Index, released by Singapore’s Commercial Credit Bureau, business confidence in the city-state has improved for the second successive quarter, despite downside risks. This is coupled with an increased consumer confidence, following a decline in the past two years.
Topics: Business Promotion
Navigating a business in Singapore can be a daunting endeavour, ranging from understanding the initial steps of setting up an entity to the day-to-day running of a company. While it may seem cost-efficient for a new business owner to deal with procedures and legalese on his own. To this end, here are 12 ways that AM Corporate Services can assist you in your business matters in Singapore.
Topics: Company Registration
Fail fast, fail often. This is a mantra commonly heard among the entrepreneurship community. However, the reality of failing is consequential, resulting in loss of money, lack of confidence in the leadership, decrease in market share and business closure, in extreme cases.
While many foreign entrepreneurs are drawn to setting up a business in Singapore given the country’s various business benefits, here are five common mistakes that they should avoid.
Incorporating a company, finding an office location, recruiting the right talent – these are the first steps in starting a business. The next stage which is a crucial one, is how to make the business viable and profitable for the long term.
Below are 10 helpful tips on how to boost your business in Singapore. Adopt and adapt these strategies based on your company needs and ensure long-run sustainable business growth.
Topics: Business Promotion
An ecosystem value of US$11 billion, a startup community of more than 2,000 tech startups, a leading place for top tech talent – this is a snapshot of the Singapore startup ecosystem which has gone from strength to strength over the years.
As a testament to the importance that Singapore places on startups, this year, the Startup SG branding was launched to deliver on a coherent brand identity and bring its support schemes under one umbrella.
Topics: Start Up
One of the biggest milestones of any startup is hiring your very first employee. The hiring process can be more complicated than it seems since there are a number of legal obligations/requirements.
After having organized your new business as lean and mean as possible in order to keep operating expenses low and manageable, there will be a point where you need to consider hiring employees to remain competitive and to grow.
Topics: HR Management