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Running a business in Singapore, a global financial hub known for its thriving business environment requires a solid understanding of various aspects, including accounting. Whether you’re a seasoned entrepreneur or just starting out, having a grasp of essential accounting & taxation terms is crucial to managing your finances effectively. This blog post aims to provide…
Business is about earning profits but giving back to society can bring about social and environmental benefits. You may wonder if donations are important to the business and may even be surprised to know that they are! Donations from small businesses can actually have a big impact on the community. A donation in the form…
Singapore has become an ideal business location due to its thriving economy and pleasant environment. In addition, many businesses have relocated to this Southeast Asian country as a result of the country’s environmental and aesthetic appeal. As a result, the country has become a hub for both domestic and international industrial enterprises. Although Singapore’s many…
Owning and operating a restaurant in Singapore is undoubtedly highly lucrative and advantageous. Moreover, restaurant ownership may lead to higher incomes than you can make by pursuing other business ventures. Being a restaurant owner, however, comes with a variety of responsibilities, including business administration, customer service, marketing, financial planning and management, and bookkeeping. Each position…
Singapore has long been a popular tourist destination due to its favourable policies for residents, but it has equally attracted business owners. The reason is not far-fetched. Singapore is now also known for its fair policies toward foreign businesses, which typically take the form of reasonable tax rates and reliefs. Investors in small Asian countries…
When running a business, time is money, and every minute counts. As time passes, you will realise how much you need to get done but see yourself running out of time. For this reason, in recent times in the business world, outsourcing corporate operations has become a common practice. Accounting is one of the activities…
It could be pretty stressful for entrepreneurs to find the perfect office space that meets all their desired specifications, which would only be the case if they weren’t armed with the right information. Your office environment, after all, plays a crucial role in your team members’ engagement, productivity and satisfaction and is a reflection of…
Handling payroll can be exceptionally intricate, difficult, and very time-consuming, especially for SMEs. An extensive amount of time and resources are needed just to process the payroll of a small business, and it can become quite overwhelming with all the rules regarding taxes, fees, unemployment and any other government regulations. However, here are five quick…
Every company in Singapore is responsible for determining its financial year end (FYE) at the time of incorporation. But, changing a company’s financial year end (FYE) after its incorporation in Singapore is common. The main reason for changing a company’s FYE is to align this with its operating cycles and business activities. This will ensure…
On the surface, many people believe owning and running a business is all about glamour and fanfare. However, as a business owner, you’re tasked with the day-to-day operations of the business, as well as its other chores like accounting obligations. In all honesty, all of these can prove overwhelming for a small business owner. There’s…