How monthly bookkeeping will help you run your business better - When you are planning to do a good business, there are many things that you need to consider to plan the business that you are able to look after before you can make sure you run it well. There are many components such as the accounts, the marketing, the human resource, the operations , the customer service. There are so many thinsg that you need to work on and this are the things that you should consider outsourcing so that you have time on your hand to allow for your better coordination of the business that you are trying to manage versus trying to do something that you are not familiar with and end up doing too much for too little rewards. The entrepreneur is the one with very little time on their hands, and this is something that everyone is aware of when you start a business. With such short supply of time and being able to make limited business decisions, you are only able to do just a few things at a time. Business wisdom says that you should focus on what ...


Benefits of using Xero Cloud Based Accounting Software for your business - Xero is one of the most popular software in Singapore for accounting work amongst startups. Xero is a new accounting software develop by a company based in Australia with the idea of turning accounting software into something that is highly efficient so that time is saved on doing up bookkeeping work and financial reports can be streamlined for regulatory uses. Xero is popular in Singapore in the recent few years because of its low rates and many features that have been favored by many local companies that are providing accounting and bookkeeping services. There are many benefits that you can get out of using Xero as your primary accounting software for your business and here are some of those that we at Koh Management think will be useful for your decision making: Benefit 1: Xero is a regularly updated software that has integration with many other apps like apple's app store The good thing about Xero is that some of the software ...


Benefits of using Cloud Based Accounting Services in Singapore - Cloud Based Services are becoming very common in Singapore and around the world. With file storage becoming one of the most popular manners of using the cloud for business, businesses such as Windows and Dropbox has made a business model out of providing cloud storage spaces for free to customers and requiring upgrades when the customer reaches a certain level of disk space usage.     Benefit 1: Cloud services allow you to operate from anywhere, anytime Cloud Based Accounting Services are also becoming a more popular form of doing accounting and also preparing of invoices, quotations and receipts. Accounting Software used to be desktop based and the only way of getting anything done is to have invoices issued from the desk of an office but that is not true anymore in this time and age. Businesses are able to tap on new technology like cloud based accounting software to run their businesses from anywhere in the world at any time of the day. The benefits of Cloud services are also that you can use it cross platform, whether it is your phone or your tablet ...


The Business Startup 101 Guide for new Entrepreneurs Our team has been considering working on this piece for a long time and we think it would be great to create an article on the 101 of starting up a business right now so that we can share some of our thoughts and also our ideas on growing your business, how to start, where to start, when to start and how to eventually get there. There are a lot of questions that might come about so do contact us if you are keen to learn more or even go through some consultancy with us. So to start off our little article about starting businesses. There are a few things that we want to point out about starting up a business. We very often watch videos of successful businessmen talking about success and how they are spending their wealth and how they have the freedom that they deserve. Such videos are great but we all need to know that, they have already got there. We all think winning is easy, without realizing how much hard work is required to get to where you want to be.


Tips to Grow your young startup business in Singapore   Tips to Grow your young startup business in Singapore - Are you running a startup or planning to grow your startup. There are so many business jargons by young entrepreneurs this days and it might get confusing for someone who is new to the startup or business world. Running a business is not too difficult. You buy something and you sell something at a profit. You build something that people use, they pay you for the service or the product. You are providing a service that no one else can do, you charge a fee and get paid for your help. Businesses that are well planned and thought out are able to scale exponentially. Businesses that are well funded can grow at a fast rate and eventually targeted for a buy out and therefore great financial gains. So here are some of the tips that Koh Management will like to provide to young startup founders on how they could grow their ...


Why you should set up a good accounting system When you are starting up a business, there are many items that you need to find out and also to look into. For the entrepreneur, he doesn't have the support of multiple staff and resources at your disposal. All you have is yourself and also your limited knowledge in almost every other thing. Accounting , Marketing, Human Resource, Sales, Product, you will  need to put your hands into all this component to make sure that you have the best for the business and also for the company to just be working and running so that it will be driving you revenue for you to grow and expand the business. Accounting is one of the key backbones of a good and strong company that is able to perform well and also to do good monitoring of the health of the business. Human health is monitored through whether you will fall sick. A business health cannot be seen from the outside, the best way to find out is to keep good records of your business and to have good accounting health and systems in place to make sure you ...


Government Scheme Updates - MOM LEDS (Lean Enterprise Development Scheme)   Singapore's workforce is expected to have slow growth going forward, since SMEs in Singapore are a big source of employment, it this scheme is to assist them to adapt to the new business environment. The Ministry of Manpower announced Lean Enterprise Development scheme to help SMEs transform, it aims to help early adopters of change to be more productive and more manpower lean. It pilots from 1 October 2015 for two years. (1) Efforts to get a more manpower lean economy, focused on Singapore core Capability development; Manpower development; and International market development. With the LED Scheme, we will support SMEs that are committed to: Becoming more manpower-lean: Higher productivity and faster innovation is essential to achieve this. Building a stronger Singaporean core: The restructuring process should result in better jobs, pay and careers for Singaporeans. Developing better quality workers: Such employees, including foreign workers, should be more skilful, and have more relevant expertise and / or experience. (2) To help manpower support through the transition phase To help those who are early on in change, through ...


What Singapore really needs from its startups We are seeing so many features on financial tech startups, we are seeing education, transportation startups and many other startups that sometimes don't have problems to solve and start creating problems so that they can start something to solve them. We have seen brilliant minds trying to solve great problems but we also must be aware of where Singapore is going towards. Singapore has and will always be a nation that is dependent on her manpower and her wits to outsmart and outmaneuver her neighbors. Which is why Singapore has over the years spend so much money on education and to one up their competitors, they focus on the latest trends and the ones that makes up the most trendy or new industries. As of now, i would believe Singapore start ups should look into building things that can help our most close to heart industries. Trading and Shipping. Singapore was build on the backs of international trade and our shipping industry is one of the biggest if not the biggest in the world. This is something we should be proud of but because of the downturn and ...


You are a young entrepreneur, looking for ideas to work on and to make some money like how Mark Zuckerberg of Facebook did. You are born in Singapore or based here since you are 10 because of your education. You plan to run a start up here and to get local funding from either the government or the many venture capitals that have flocked to our shores because of the abundance of support and gathering of startup founder in this small little island we call home. We have seen a few popular trends and there has emerged a few main types or trends of business that young entrepreneurs prefer to work on and start on. Probably because of the high upwards potential or low entry barriers.   Startup Trends 1) E-Commerce of "Everything" E-Commerce of Clothing and Accessories are everywhere with the boom happening a decade ago but recently we have seen many start ups doing E-Commerce for things that you may not even be aware of. For example, there is a live seafood e-commerce business called Crab Towkay that does live seafood home delivery and uses a E-Commerce platform for payment. They ...