How to Start Small Business in Singapore
Posted by Paul Hype Page & Co on January 15th, 2021
The business opportunity is ample in Singapore. There are always new businesses coming up. If you have a great business idea, you might consider transforming it into reality. Singapore is a land of opportunity with a supportive startup ecosystem, who knows you might end up becoming a successful entrepreneur if you give yourself a chance.
Starting a small business in Singapore is straightforward. As long as you have the will, you can easily step into the game by kick-starting a small business in Singapore.
Checklist before you start a small business in Singapore
1. A solid business plan
2. Capital and finances
3. Business name
4. Consider e-business
5. Type of business
Business entity is another key component that business owner should take into consideration. When you want to launch a small business in Singapore, you should have a basic understanding of business structures of the nation. The following are the recommended businesses structure if you to start a small business in Singapore:
6. Tax obligations
7. Register your business
8. Have a registered office address
9. Licensing and permits
10. Bank Account Opening
With Aspire, you, as the business owner, can have fast and simple access to financial services for your business operations anywhere and at any time through your mobile phones. What is more, it is also free to open an Aspire Business Account. There are no monthly fees, fall below fees, or FAST transfer fees, and no minimum deposit is required as well.
If you are keen, the account can be opened entirely online with Paul Hype Page. Check out more Aspire features on www.aspireapp.com.
Feasible small business ideas in Singapore
If you want to venture into the Singapore market, here are some feasible small businesses ideas for you to consider:
Accountancy: There are abundant opportunities for accountants in Singapore because all Singapore businesses need accountants to help them with tax obligations and finances.
Consultant: The demand for consultation services is on the rise with the increasing number of potential investors in Singapore. If you have consultation skills, can provide financial advice and investment insights, this might be a good option for you.
Other in-demand small business ideas in Singapore are boat cleaning, bicycle repair, dog breeder, cleaning services, computer repair, and business planning services.
The process of starting a small business in Singapore is simple and straight forward if you do it right. Whether your business will succeed is depend on your preparedness and planning. You must have a contingency plan to ensure success in your small business. Apart from that, steps like incorporation and securing funds are also vital when you want to start a business in Singapore.
To get comprehensive information on this topic, please refer to Start a small business in Singapore article.
Paul Hype Page & Co, established in 2008, is a Full Practicing Member of the Institute of Certified Public Accountants of Singapore (ICPAS). Paul Hype Page also registered as a Public Accounting Firm with Accounting and Corporate Regulatory Authority (ACRA), offering consultancy services relating to Singapore Company Incorporation, Accounting, Auditing, Taxation, Immigration, and related compliance services.
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About the AuthorPaul Hype Page & Co
Joined: January 15th, 2021
Articles Posted: 8
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