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Category Archive for: ‘Richmond Blog’

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Company Registration Singapore Increases After Budget 2013
The Singapore government generously provide small and medium-scale industries with financial and strategic support. The measures benefitting the small and medium enterprises were announced in the Budget 2013 and have since created a positive outlook in the Singapore markets. The Budget included the implementation of policies and grants favoring the SME sector which comprise about 90% of the all businesses in the Republic. In fact, 70% of residents in Singapore are employed by SMEs which is...
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Encouraging The Existing and New SME – Singapore Government
The small and medium-scale industries in Singapore are up for various programmes and schemes that are available from 2013 to 2015. The budget allocated by the Singapore government has not only brought about many opportunities for entrepreneurs and business owners but also given hope to young talents who aim to make it big in business. The Enterprise Development Centre The Small and Medium Enterprise Centers, considered integrated epicenters for SMEs in Singapore, are established by the...
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Singapore Government – Searching New Talent for the SMEs
The Productivity and Innovation Credit (PIC) Bonus is a programme launched by the government to encourage small and medium enterprises (SMEs) to engage in qualifying activities that are helpful in improving business through productivity and innovation. The bonus can be considered as the icing on the cake as it can be an indicator for the companies that are taking more initiatives to further improve their business through the programme. More so, the recruitment of locals can also be included in...
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The Extra And Unseen Advances Of The SME Policies 2013
The Singapore government came up with a plethora of programmes to further improve the small and medium enterprises (SMEs) and encourage more entrepreneurs to start up their business in the city-state. Safe to say, the Budget 2013 had a lot of surprises for the SME sector - the Productivity and Innovation Credit (PIC) Bonus, tax benefits, training, cash payouts, loans and more that can be availed from 2013 to 2015. These initiatives have inspired more registered Singapore companies. 1....
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The Struggle Of Setting Up A New Company in Singapore
Any entrepreneur can relate to the hardships and an enormous amount of work involved in setting up a new company. From issues ranging from financing and investments to hiring the right staff to taking advantage of programmes and incentives offered by government agencies and more - undoubtedly, there is a lot of work that has to be put in.  The Singapore government announced in its Budget of 2013 plans to help support the Small and Medium Enterprises (SMEs). Company formation in Singapore has...
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The Tightening Of Foreign Worker Policy In Budget 2013
The adjustments in the foreign worker policies announced by the government in its Budget 2013 have raised some eyebrows. To decrease Singapore’s dependency on foreign talents and encourage more small and medium enterprises (SMEs) to hire local employees, the government increased the qualifying wage salary and levies of foreign workers. The S Pass qualifying salary has been increased from S$2,000 to S$2,000 starting July of 2013. The main goal of these initiatives is to manage the Dependency...
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The Latest Addition To SME Policy By Singapore Government
The Singapore government has continuously worked toward supporting the growth of small and medium enterprises. From introducing effective policies to coming up with programmes that enhance productivity, employee skills, financial support, innovation, and more. The major highlights of government support that SMEs can apply for are the following: 1. In order to strengthen the SME units and become at par with bigger players in the Singapore market, the government launched the SME Talent...
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SMEs Will Be Benefitted With The New Policies Announced In Budget 2013
In providing better assistance, capital inflow, and healthy business environment to small and medium enterprises (SMEs) of the country, the Singapore government leaves no stone unturned. Hence, policies, programmes, and schemes that are supportive to the SME sector have been introduced to increase business productivity, innovation and opportunities for growth. For one, stricter restrictions have been implemented on foreign worker policies to avoid further influx of foreign workers in...
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Singapore Government – Extending Support To SMEs
The Singapore government has announced new policies and initiatives advocating the growth the city-state's small and medium enterprises (SMEs). Let us find out what the Ministry of Trade and Industry (MTI), SPRING Singapore, and International Enterprise Singapore have laid out to support the SME sector. Improve Productivity The government is focused on increasing the productivity of SMEs. Since SMEs comprise 50% of the economic output of Singapore, an increase in production will certainly be...
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Singapore Assists SMEs Through Innovative Policies And Strategies
Small and medium-scale enterprises are one of the most important segments of any country that play a vital role in fueling the growth of the economy. The Singapore government recognizes the importance of these SMEs and comes up with new policies and strategies in order to support the sector better. The Ministry of Trade and Industry (MTI) has already unveiled a number of policies in order to assist SMEs and help them achieve their target market efficiently. Existing policies have been...
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