Business Registration Singapore
Tips On Business Registration Singapore Young Entrepreneurs Must Know
Starting a business venture can be very daunting, especially for first-time entrepreneurs in Singapore without any formal business background. After all, competition in this city-state is tough. These young business-minded individuals, however, can take courage in the fact that the Lion City implements policies that greatly help businesses, especially startups, flourish. For one, the business registration Singapore is fairly straightforward.
In Singapore, just like in other nations, business registration is an essential part of establishing a company, except for business types listed under Section 4 of the Business Registration Act, Cap. 32. It is, in fact, one of the very first things entrepreneurs must do since the company’s operations cannot commence without going to the Accounting and Corporate Regulatory Authority (ACRA) and accomplishing this mandatory process.
Business Registration Singapore – Deciding On A Company Name
Prior to proceeding with the registration, the business owner must decide on certain matters; one of them is the name of the company. Securing a license to operate wouldn’t be possible without an approved company name. Thus, to avoid delays, budding entrepreneurs must carefully choose their business name and strictly adhere to the guidelines (avoiding vulgar words and existing names). Researching about reserved and existing trade marks at the Intellectual Property Office of Singapore is also highly recommended.
Although Singapore’s business registration process is fairly simple, a first-time business owner may still find it challenging and taxing. This is because fully comprehending the laws and procedures and preparing the necessary documents demand time. For these reasons, outsourcing this service is highly recommended.
With a clear understanding that expeditious registration is important for startups to gain a stronghold of their target market, the thrust of a reputable firm offering company registration services is to help its clients become legal entities in the Lion City in the shortest possible time. The capability of the firm to deliver on this promise primarily rests on the fact that it is staffed with people knowledgeable and experienced when it comes to registering businesses in Singapore.