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Singapore Company Incorporation Guide
Singapore Company Incorporation Guide Incorporating a company or business in Singapore for the first time can be a complex and challenging process, but with the help of the right corporate advisory firm, the process can be much easier. However, before you turn to any of the professionals, it will be better if you have a grasp about the process of company incorporation of Singapore. Most companies in Singapore are registered as Private Limited Companies (PLC) and is considered as the most...
Singapore Economy Slightly Contracts In 2013’s First Quarter
The economy of Singapore has contracted by 0.6 percent in the first three months of 2013 compared to the same period a year ago, according to the quarterly report released by the Ministry of Trade and Industry (MTI). Quarter-on-quarter, meanwhile, the economy has crunched by 1.4 percent compared to the last quarter of 2012. Year-on-year, the manufacturing sector has suffered a 6.5 percent contraction, in contrast with the 7 percent rise in the construction sector. The service industries,...
Checklist Of Business Planning For Startups
Are you starting your own enterprise in Singapore? Did you know that Singapore is one of the world's most conducive countries for business, as cited by various international organisations every year? This is due to the highly efficient business system of the country, making it a generally business-friendly environment for both small and big companies. To make it easier for you to start your business, here is a basic checklist of processes that most businesses go through. Note though that any...
What Are The Common Reasons For Starting A Business?
You know your business plan. You've done your market research. You have your product polished and ready for the market. But why exactly are you doing this? What is your motivation for coming up with this business? For entrepreneurs, asking this question at any point in doing business, especially at its youngest stages, may not seem very likely. Note though that in every undertaking, having a purpose is very important. Purpose is going to lead you into the decisions you make, consciously or...
How To Spot Opportunities In The Market For Your Business
Many entrepreneurs decide to open a business for many reasons, but the common denominator is this: market potential. Entrepreneurs have spotted a potential in the market that they want to tap and hopefully make a business out of. Realizing this potential often entails any of the following: first, having ample experience and know-how of the business or industry; second, having a solution to a perceived problem in the market; third, having a family member or relative who is successful in the...
6 Steps To Working In Singapore: A Guide For Foreigners
Singapore is one of Asia's most thriving economies and therefore attracts both global businesses and professionals. If you are a business trying to break into the Singapore market, or a professional looking for work opportunities in the Merlion City, let this six-step guide help you: First, look for job postings. Starting online is a convenient way to look for jobs that suit your qualifications. [email protected] is Singapore's official job portal and should be the first of your reference...
Singapore’s Business Excellence Framework
Business entities in Singapore are encouraged to follow the Business Excellence Framework for continued growth. This framework is a structured approach to managing a company's operations. Ultimately, the framework aims to make businesses grow in their respective industries and buoy the national economy along the way. This framework, in principle, consists of three aspects: the standards of excellence which businesses need to strive for; the self-assessment tools for performance measurement;...
MTI: Precision Engineering A Key Growth Source In Singapore Economy
Singapore foresees that its manufacturing sector, particularly the precision engineering (PE) industry, will continue to drive the national economy further as it enjoys steady growth. This was the statement made by Senior Minister of State Lee Yi Shyan from the Ministry of Trade and Industry and Development during the 2013 MTA, a machine tools trade show, exhibition, and conference held in early April. According to the official, the manufacturing sector is “a key pillar” in the...
Internationalisation Finance Scheme For Singapore Businesses
Singapore-based companies looking into expanding their market overseas have a number of financing options available courtesy of the national government. Among these is the Internationalisation Finance Scheme or IFS, which provides assistance to companies in acquiring fixed assets to be used abroad or to finance working capital expenses for any of their overseas projects. A total of S$378 million of IFS loans were approved in 2010, S$195 million in 2011, and S$121 million in 2012. Of all...
Local Enterprise Finance Scheme for Small and Medium Enterprises
TheLocal Enterprise Finance Scheme or LEFS is one of the several financing options available for small and medium enterprises based in Singapore. This scheme allows loans of up to S$15 million, that can be used for various company purchases and upgrades. SMEs that are interested in applying for the scheme must be locally-owned, with at least 30 percent local shareholding. Applicants must also have a Group Annual Sales that does not exceed S$100 million, or a Group Employment Size that does...
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