Set up Business


How to set up an ecommerce store in Singapore

How to set up an ecommerce store in Singapore - eCommerce is something that has become very popular with the starting up community in Singapore. Singapore is a small country, going to the mall is not that difficult for most people. But eCommerce is still a very popular form of business in Singapore because of the convenience it brings to the retailer and also the shopper who is able to buy the items they need in the convenience of their home.  eCommerce store are also great for first time business owners because the starting up cost of this types of businesses are minimal and you are able to try and learn new things at your own pace since you out lay of cash is not as stressful as a big investment into a more traditional form of business.  So what are some of the items that an eCommerce startup founder can take note of and how do you actually go about starting something like this in Singapore.   Find out what product you want ...


How monthly bookkeeping will help you run your business better

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 ...


How to grow your new business in Singapore

How to grow your new business in Singapore How to grow your new business in Singapore - Are you someone who just started up and want to learn more about tips on how to grow your business in Singapore? Today in this blog post we have some tips that we would like to share with you so that you can grow your business and get more leads and also generate more future leads to become a great company in Singapore whether you are in the services field, manufacturing field or any other relevant fields in Singapore. This 5 tips will be able to kick start your business so that you have the opportunity for it to grow and this tips are also easy to understand and transfer into proper working plans. Work on a product that is marketable  The product must be something that you can send a message out to and also something that can be marketed. You can be selling a water bottle, it can be a new tech product that could change ...


Whats the difference between SP, LLP and Pte Ltd

Whats the difference between SP, LLP and Pte Ltd - Singapore's business systems are very similar to that of the British system. Most of the company's act came from the UK and with it most of the systems of business. To start of there are basically 3 main forms of business/company structures that an entrepreneur could consider when he or she wants to start off their business here in Singapore.  Singapore is one of the best places to do business and we are ranked number 1 on the ease of doing business and this makes us a great place to start a company. Many may be confused as to what makes a difference in the 3 main forms. Let us discuss it here today. Before we start, definitions, "SP" are what we term as sole proprietorship. "LLPs" are limited liability partnerships. "Pte Ltds" are private limited companies.  Let us start with sole proprietorship, when it comes to starting of a business, SPs are a good choice of business type because you can get it registered by yourself on the ACRA website in a few minutes time. How it ...


5 Things to watch out for when starting up

5 Things to watch out for when starting up 5 Things to watch out for when starting up - Starting up a business is a decision that is tough for anyone, even for the seasoned entrepreneur it still takes quite some thinking and considering before you make the leap. When an entrepreneur decides to take the entrepreneurial risk, it is always a calculated risk that the investments placed in it will be able to generate profits for the investor himself. For the first timer there are many things that you should be aware of because you are not familiar with how things can change for the worse and what you should watch out for when you first run into certain problems. Here are some of the common items and the not so common items that you should watch out for when you beginning on your entrepreneurial journey   Always make sure you have a proper understanding and contracts with your partners People feel comfortable working with those around you, especially friends, but this is also one of the things that can lead to the end of a friendship. Make sure if you are working with your ...


Startup Bank Account – Preferred Bank for Start-ups in Singapore

Startup Bank Account - Start-up Friendly Bank in Singapore       *DISCLAIMER: Information are correct as of 15/09/2015, any changes that are not reflected at the fastest possible time is regretted, we have included a link to the banks to allow you to better understand, please use this as a guide only!* Are you a running fresh start up? Trying to sieve through which bank to use for your first bank account? We are writing this guide on what we think are the best start up friendly bank in Singapore and hope it helps you in your start up journey. This article is written based on my personal experiences and also from information based off the individual bank websites and banker information. Do share with me if you have any opinions on this article, i am glad to hear more from others. Below is the summary table and our pros and cons analysis of startup bank accounts. If you require referrals for bank account opening, drop Tommy a call 98638665.     1) Startup Bank Account: DBS Entrepreneur's Account for Start-Ups - ...


5 popular trends of Singapore Startups

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 ...


How to set up Tuition Centre in Singapore

How to set up Tuition Centre in Singapore Are you keen on starting your very own tuition centre? We have also wrote a guide on how to set up a tuition agency in Singapore, you could read that to find out more as well. Tuition is a very popular and profitable business in Singapore because of the strong focus on education by Asian families. Families are willing to spend quite a sum to ensure that their children are well ranked in school and this has led to an education boom. Also amongst the wealthy in South East Asia, parents will spend to send their children to Singapore to study and have tuition to keep them ahead of the group. There are many tuition centre in Singapore and the competition is tough but one could still venture into this field if he has strong financial backing or the tutors behind the centre are strong in terms of presence. So let's begin on our tuition centre business guide.   Step 1:  Location, Location, Location | How to set up tuition centre in Singapore Location, Location, Location. Before you even want to consider ...


How to set up a Consultancy business in Singapore

How to set up a Consultancy business in Singapore Have you worked in a big MNC for the past few years? Looking to leave the big firm? Or do you have some skill sets that the common man does not and you are in demand by others to solve their problems? With your credentials and starting your own consultancy business could be one of the profitable business ideas to look at nowadays. Singapore is moving towards more of a knowledge economy and someone with extra skill sets can easily monetize them and allow it to make good income for them. So what are some of the pointers to look out for when you are looking to become a business consultant in Singapore.       1. Find out what are some of the more common forms of consultancy people with your skill sets provide | How to set up a consultancy business in Singapore You may not be aware that your skill sets can be packaged in many different ways and rates and this is something that you should work out before ...


Government Scheme for Singapore Businesses

Government Scheme for Singapore Businesses Singapore has always been a country that is pro business. With minimal natural resources, Singapore is highly reliant on her human resources, therefore the growth of the various service sectors such as Finance, Biotechnology, Oilrig building and many more ! With the reliance on manpower, Singapore has always been placing much of its reliance on the backs of foreign workers, with the recent shift in policy, Singapore is shifting away from her reliance on manpower heavy sectors to those with high returns on manpower or finance related services. To aid in the shift of policy, the government has come up with a string of grants and schemes that can help Singapore businesses to change their structure of the business or to explore new fields that they previously may not have the incentive to move to due to the cost or technical difficulties. The following are 3 grants that are useful for SME business to look into:   Government Scheme for Singapore Businesses No. 1: Productivity and Innovation Credit (PIC) administered by Inland Revenue Authority of Singapore (IRAS) Through this scheme, investment ...