How To Start A Business
How To Start A Business In 1 Easy Step
Singapore’s pro-business environment inspires the enterprise spirit especially among young people even those fresh from university. If you are one of the many who hope to be like Singapore’s young and successful entrepreneur in the likes of Chua U-Zyn, Paddy Tan Lek Han, Eric Feng, Cheo Ming Shen and many others, then here is your guide on how to start a business that is primed for success.
How To Start A Business: A Matter Of Passion
Successful entrepreneurs have different stories to share about how they made it to the top. You may have your own unique motivation for establishing a business. It could be that you are passionate about an idea and want to realise this idea into a business. Or that you want to change your present circumstances for the better. Or that you have an idea, studied it, and proved that it has great marketing potential. Whatever it is, you have inspiration and passion driving your action. Business requires doing as much as thinking. It’s a challenge that many individuals take up as it offers an opportunity to measure one’s success against one’s own capacity and willingness to achieve success. This said, there is no limit for the entrepreneur who is driven to take his business far.
Now that you are primed as an individual to create a business, the next best thing to do is to create it the right way from the very start. This means creating a legal business entity.
The Legal Aspects On How To Start A Business
To be able to operate as a legal business entity, you will need to register your business with the proper government agency. In Singapore, the most common type of company to be incorporated is the Private Limited Company. Most entrepreneurs make no delay in registering their business so they can start offering their services and products right away. To do this, take the easy and fast way to company registration by engaging the services of a Singapore Company Registration provider.
Granted that all registration information is furnished the Singapore Company Registration provider, you can register your company in Singapore in just two days including company name reservation and the actual registration. The fees for the service is minimal relative to the value of having a legitimate business set up in close to no time.
Below are the required information and details that you need to furnish so you can register your new company fast:
1. Proposed Company’s name(s)
2. Business activities description
3. Paid-up capital (also number of shares for each shareholder)
4. Company’s registered office address in Singapore
5. Name, particulars and personal contacts of director(s) (minimum 1 director who is a Singapore Citizen/Singapore Permanent Resident or Singapore Employment Pass (EP) holder.
6. Name, particulars and personal contacts of shareholder(s).
7. Copy of passport or identification card and home address will be required for directors and shareholders.
Good luck as you start your entrepreneurial career!