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Best Accounting tips for Startup businesses in Singapore

Best Accounting tips for Startup businesses in Singapore – Startups are great for a young person who wishes to change the world and create something that will not only build wealth for the founders but also change the world as it is.

The startup culture of recent years have helped to push innovation around the world and speed up the changes that humanity wants to see in its inventions and also changes and improvements in processes and consumer needs across the board.

The startup culture has also seen some of its downfall and slowdowns with the recent WeWork saga seeing funded startups running on so much money that it is burning without even properly turning a profit.

As a professional firm providing accounting services, we will like to share with you some tips on how you as a Singapore startup can improve your accounting work to improve your chances of doing well in the long term in this tough and cut throat world with a new article on “Best Accounting tips for Startup businesses in Singapore”.

Pay close attention to your company expenses

The biggest problem with many startups is the run away spending that many will make when they are trying to grow their business and try to grow them fast. The thing about company expenses is that you think that you know what is happening but actually you don’t. You end up spending way more than you are making and this is going to start causing cash flow issues. If you are a startup that is bootstrapping which means you do not have external funding, you will go under really soon!

This is one thing that most startup founders do not realize that can kill their goals before it barely took off.

 

Make a plan of your company expenses

Budgeting is always a good choice when it comes to working on anything. When you budget, you will at least be paying close attention if you realize you are running way above the budget that you have set forth for yourself at the start of this course of action.

When you know what you are expected to be paying and you are way above it, slow down and make sure it makes sense before you push ahead again. Many business owners especially startups do not budget and end up over spending what they should.

 

Keep your records properly

Have you heard of lost receipts, lost expenses documents, lost invoices and lost cheque stubs. This are all very common things that happen along the way when you are running a business because you are just so busy running the business to handle all this administrative documents.

The fact is, keeping this documents intact and proper is actually very important. When you get audited by the tax agency, you will need to present this documents. You will not know when this is going to happen so which is why keeping accounting records are very important for a business especially a startup that does not have good systems in place.

 


At K Cloud Accounting, we will guide you to set up a good system for your business so that you as a startup founder will need to just focus on your business and leave the rest of the startup accounting work in Singapore to us.

Best Accounting tips for Startup businesses in Singapore

6 business ideas that you can start in your 20s

10 business ideas that you can start in your 20s – There are many people who want to be their own boss but many people do no understand that it does not need to be the point where you have a good idea and then you start working on it. You can start something small from services and build up from there. There are many services that can be offered and if you are willing to learn and willing to try, you can make some income on the side.

There are things in your 20s that you can pick up on for you to start your entrepreneurship journey.

For those who are not aware, most of the rich people in this world do not just start a business and they hit the jackpot. They go through a lot of failed ventures and failures in life before they hit success in one good business.

So before you hit that jackpot, you should be developing a strong set of skills that will help you eventually winning in this game of life and business.

So what are some of the 10 business ideas that you can start in your 20s that will help you to grow wealth and be successful when you are able to get more done.

1. Digital Marketing

Digital Marketing is a huge space in the business world right now. Gone are the days when you pay good money to have your advertisement show on the television and you will gain good purchases and also brand recognition.

The tv and news outlets are losing its shine with the advent of social media and social media and digital media marketing has become the new in thing where businesses will tap on to show case their products and also to funnel people into buying their products.

There are many different forms of digital marketing, there is Facebook and Instagram Marketing, There is linkedin marketing for professionals, there is Google SEO marketing, there is Google Adwords marketing. There is also marketing through influencers and blogging. There are so many forms of digital marketing that you can choose from.

Pick up one of this skills, get really good at it, offer to help someone for free for portfolio and then you will be able to see yourself climbing up the ladder as you get better and can charge more for the amount of work you do for your clients.

2. Consulting Services

Are you someone who is really good at getting a certain food item done up in a certain manner. Or are you able to design something really special in a certain manner. Consulting work can be quite a lucrative business if you know someone that someone else doesn’t. When that comes into play, people are willing to pay you hundred if not thousands just to give them advice on how to save time or effort or even just helping get something done.

Connected to someone who is going to help their business? Great, one phone call from you and they close their deal and you get the consulting fees of introducing business, it is that easy. Networking can pay off if you have a good relationship with many people and when you want to connect with people you will be able to spread this note out to others and get more things done for the whole industry!

3. Music Training

Parents sent you for music training when you are young? You have a diploma in it? Great, you are probably good enough to teach the next generation of people. This is a good business as a teacher because you can charge hundreds on ends and you will probably be needed for months or years to get them to a certain stage.

Use this training to build up wealth before you reinvest in other forms of business when you have the opportunity to.

4. Sports Training

Parents sent you for sports training like swimming, tennis or golf? This is a high value skill as well. The sports that the rich want to get in to but did not have a chance when they were younger because of poor background.

They will love to pay you good money to start working on this sports that will help them to meet other people who are into this sports, especially golf where you will be able to network.

5. Blogging

Blogging is a good way to have a side income. There are many bloggers with a good interest in something and they have ads that will keep them going for a full time role as a blogger. Blogging can be a very fun activity that everyone can take part in and when you have something that people will want to read about, you get something that is special for your own development and also wealth building. This blogging interest can also translate into a YouTube channel that can bring you further into this journey of making money online.

6. YouTubing

Youtubers are making millions from ad revenue nowadays and they have very interesting content that they can do for most people to be entertained. If you have something that you have interest in and you think that other people will be interested in it, you might have hit the jackpot of it.

Work on getting your video quality up to date and also work on giving good advice to people who may want to learn something online and this is a good avenue of making great wealth.

 


If you eventually will like to incorporate your company in Singapore to take advantage of its location in South East Asia and also low tax structures, you can contact the team at K Cloud Accounting Pte Ltd that provides full suite accounting services for Singapore businesses and also full suite tax and corporate secretarial services.

We wish you all the best on your entrepreneurial journey and to great wealth and prosperity for all business owners who are working hard to improve their life.

 

6 Business ideas that you can start in your 20s

Cloud Accounting Services and why you should switch to them

Cloud Accounting Services and why you should switch to them – There are quite a number of cloud accounting services and software going around right now. The reason that Cloud services are starting to pick up in this market place of accounting services requirements is the fact that things are getting more and more complicated and to get things sorted out in a much faster and also simpler manner, the usage of information technology is important. The importance of running a business with cloud based services is one of the things that will make sure you will gain more traction with lesser time spend and therefore lesser resources in place for it.

Cloud Accounting Services is very popular in Singapore right now because of this. Not only for accounting services, there are many cloud options for other management services needs, such as cloud based payroll solutions, cloud based banking solutions and everything now is online so the fact that you want to do your accounting services online will make your business running a lot easier and a lot more interesting to work only.

Cloud Accounting Services in K Cloud Accounting Pte Ltd is through the usage of Xero Cloud Accounting Software that has some of the newest technological changes. So the craze about this whole cloud accounting services thing, what is it about and why you should consider working on switching to them

There are a few things that will definitely intrigue most business owners and we will like to share them so that you can learn from it and also learn to build up on it.

So what are some of the things that the cloud accounting services can do for you and what are some of the things that will help you to build up your business and become strong entity that will take off and become a much stronger business.

Cloud Accounting Services allows you to operate your business from anywhere in the world. The fact that you are running a business means that you will want to one day let it go so that there are people who will assist you in managing it so that you can focus on other things in hand. This is one thing that will definitely help you to achieve this world domination goal in years to come. The best thing is that you can be out of the office and monitor your accounting details.

The artificial intelligence within the software will also be able to help you with your bank reconciliation portion which will definitely save you a lot of time. This is also one of the most important innovations that have been one of the most time saving for most accountants who want to save time on getting information done up properly.

We are keen to work closely with businesses that are just starting up and are keen to work on delivering high quality work for their customers. The usage of cloud based technology to help you to become a better business person is now at your doorsteps. You can also become a good business person in time to come through improvements in your business needs.

Cloud Accounting Services and why you should switch to them

Accounting Services Singapore and the importance of it

Accounting Services Singapore and the importance of it – Accounting is as old as doing business itself. In the olden days, there are so many ways of trying to keep track of how much money is made and how much profits has been made. Even right before there was a way of computing. People will use beads or items to do the counting and make sure they make profits. When written languages and numbers were created, use of paper and writing materials were used to record on a daily basis how much silver or gold was made to make sure that the merchants know if this trade was a good one and worth their time to doing it again.

Accounting Services Singapore and the importance of it

Accounting Services started from that point. There are many people who started to specialize in such fields to work as stock takers or accountants to make sure the figures are done right and to compute the profits of the trades for their bosses who are engaged in merchant trade. The merchant class soon became a wealthy class of people with their regular buying and selling of goods and services.

Singapore is a big trading location. We are blessed with a great location that connects the east and the west and many people in Singapore who have started on business probably come from some roots of trading. Our port is great for such trades and this also makes Singapore one of the finest financial hubs in the world. With a great financial hub, the importance of running a company in Singapore and a good Accounting Services Singapore infrasturcture is important.

This makes for an important accounting firm singapore system that the government needs to set up so that it could handle the flow of business traffic from around the world that wants to take advantage of the ease of doing business here and also at the same time the low taxes it could afford to the local business owners. When you are doing trading in this region , you need to know that keeping a good set of accounts is important because Singapore is reputable for the fact that they are able to make sure accounting work is done right and well and to keep the integrity of it being a financial hub that is not taken advantage of.

There are many things that can be done when you are doing business in Singapore but trying to use it to finance terrorism and money laundering is what the government wants to avoid.

Accounting services providers therefore are very strict to their customers to get the work done properly so that if there is a chance of the accounts getting picked up for random audits by the government. There are ways to work with them to make sure all the transactions are done with good information clearance.


K Cloud Accounting is a Xero Accounting firm provider of Accounting Services in Singapore that does full management of your government requirements. Corporate Secretarial services with the providing of nominee secretary and maintenance of your files. End of year un-audited financial report compilation. Tax computation and submission services. Annual General Meeting and annual return submission.

We are keen to work closely with your startup to provide high quality services for your needs. Call our business development manager now!

Cheap Monthly SME Accounting Services for your business needs

Cheap Monthly SME Accounting Services for your business needs – When it comes to running a business there are so many things that you want to be able to watch after. There are also things that you might not be experienced in and you want to be able to do but do not have the time or the means to. Accounting Services is one of the key things that needs to be covered by you and your team when you are running a business. Cheap Monthly SME Accounting Services is one of the key things that will help set you apart from the rest. How many startups and SMEs do not survive past the first few years or even months of business. When you have your accountant on your side, you get to have information about your business on a monthly basis and this is great for anyone. We all know information is key to making decisions and good decisions come from consistent and good information flow.

Cheap Monthly SME Accounting Services

We also know that Cheap Monthly SME Accounting Services Singapore is one of the ways to keep your cost low. Finding cheap vendors for Cheap Monthly SME Accounting Services will help you not only save on your monthly accounting services cost which can be substantial, it also helps you to find a good accountant at a really budget rate. Most of the time budget rates means lower quality but not at K Cloud Accounting.

Business should also work on having their accounts done up properly so that when you have an investor, you will be able to deliver the accounts straight up! Suppliers will be glad to see that you have a good system in place and healthy bank account to offer you credit for supplies that they might be giving to you and not be worried that you might end up closing up and not be able to pay them the necessary fees of selling to you!

Working closely with more partners is one of the key ways to have a long runway in business. Accountants, marketers, lawyers and your mentor are all key to running a good business. This is one of the few things that you may want to put into place when you are running a business that is not just tough to build on but at the same time, you should be able to deliver the best quality services or products to your customers to be able to stay in the game for a long time.

Support services such as accounting must never be missed out on.

K Cloud Accounting is a Singapore based Cheap Monthly SME Accounting Services provider and there are many things that you can work with them on. They also provide corporate secretarial services, tax services, payroll services and also office virtual address services to name a few of the corporate services required by SMEs or Startups that are based in Singapore. Contact the team now and get a quotation for your required services today

 

Cheap Monthly SME Accounting Services for your business needs

Singapore Monthly Bookkeeping Services and the benefits of it

Singapore Monthly Bookkeeping Services and the benefits of it – Running a business is a very tough thing to do for anyone who is trying to start up. There are so many things that you have to watch out for there are so many nitty gritty items that you have to care about. It seems like everyday you are drowning trying to just get your business trying to move a step forward. It is not easy for someone who has barely any experience in running a business to keep making progress in growing a business and this is one of the few things in life where you do not really have a chance to learn and work from. You can get a mentor who will be able to guide you in some of the pitfalls and some of the things that you can look at.

Singapore Monthly Bookkeeping Services and the benefits of it

So what are some of the best things that you should have to work with someone else to get settled. Lawyers are an important part of your arsenal of professionals whom you can work with closely and able to deliver high quality advice for you especially during the early days of your starting up. Having a good lawyer also means that you contracts are done up properly. This is important for the businesses that want to avoid getting into shareholder arguments and quarrels when the business grows. The lawyer is also an important person to review contracts when it comes to fund raising. The lawyer is also a good ally when it comes to working things out for the long term, knowing the law is definitely an important part to the business.

The next important ally that you need for the business is your accountant. They say you need a right hand and also a left hand man when it comes to business. The right hand and left hand man are definitely your lawyers and your accountants. Why are your accountants important for the growth and longevity of your business you might ask. There are many things that an accountant can help you to manage for your business. Many people see their accountants as just a person that will settle the paperwork that needs to be submitted to the government and then they are just there to get this portion of work done for them and that’s it. Without realizing that the importance of the accountant is not just someone who is just good at pushing paper work but at the same time he or she is also an advisor to you on how to cut cost on your operations. Someone who can also guide you on how to maximize your profits by making certain arrangements. There are also other customers that they have that might be in the same trade and there are many cost cutting measure that they can share with you that they have learn from the rest.

Business is not something that you should do in isolation. When you run a business in isolation, you end up having very little to learn from. You will end up making a lot of mistakes that you can clearly avoid and this is not good for someone who is just starting up because you will end up paying the price for all the mistakes and fail before you can even make an impact in this market. There are many things that can be learnt from your accountant if you want to avoid dying prematurely in this ultra competitive business market.

So how does having your monthly accounting services done help you to grow faster and what are the benefits of doing it?

Firstly, when it comes to doing monthly bookkeeping services, there are many things that can get missing if you don’t file them up properly and do not work on them on a regular basis. Books that are kept for more than a few months tend to get missing and that petty cash amount that you did not account for? There is a high chance that things are going to be messed up and therefore you will not be sure what had happened in the past. This is one thing that many people do not realize about the importance of getting your monthly bookkeeping services done up. By having it done monthly, you have documents sorted out with discipline. You will also know that you need to get it done so that your accountants can get the work done up as soon as possible for you to review the management accounts. This forces you to make sure documents are in place so that your accountants are able to work on it fast.

Secondly, when it comes to monthly bookkeeping services, you get to receive you monthly bookkeeping management accounts that will help you with your decision making purposes. The good thing about having someone who is able to deliver the work to you every month helps you to run your business at a manner where you are able to find out how you are doing in terms of profits and losses and this is one of the best thing that can happen to an entrepreneur who wants to know if he or she is making a good business decision and if he or she is on the right path when running their start up business. This is important for people who are working to set themselves on a path of success. We all know that information is important for decision making and it is also important to know how to make changes to the business. The monthly information updates and meetings will go a long way to bring success to your business.

Thirdly, monthly bookkeeping services allows you to show the world that you have everything in place. Many people do not realize this but having tidy books is the same as having a tidy life. This will impress the potential investor who will want to take a look at your numbers and being able to deliver them straight to your investor is important and this makes for a good first impression. Instead of rushing your accountants to get it done when they are demanded, you can forward it straight away. This goes far to show your investors or suppliers that you are reliable and in control of the situation. When you are in control you know you are able to make the demands and set the requirements for other people to follow your dreams and for others to follow what you set for them. Not the other way around.

 


K Cloud Accounting Pte Ltd is a Singapore based Xero Accounting Singapore company. We deliver monthly accounting services for our clients and the packages are split based on the volume of work that you have for that particular month. We are a full-suite services company that includes bookkeeping, financial report compiling, taxation and corporate secretarial services for the needs of all startups.

Contact us if you are keen to find out more and we can schedule a meet up to find out your requirements and assist you in your business needs for a successful business.

Singapore Monthly Bookkeeping Services and the benefits of it

Why K Cloud is a good option for affordable accounting services in Singapore

There are many options out there when it comes to accounting services, most businesses do a full suite work which includes monthly bookkeeping services, end of year financial report compilation, tax calculations and submission services, corporate secretarial services, annual general meeting work and annual return submission work.

Affordable accounting services in Singapore is quite abundant with many businesses offering cheap prices and promising quick work done for you. There are also many businesses that share about how they are able to give good advice for their clients to help them grow their business.

So what do we think that sets K Cloud Accounting from the competitors that will allow you to make an easier choice for appointing an accountant and corporate secretary that you can trust and stick with for a long time?

  1. K Cloud Accounting is run by a young team of professionalsHaving a young team is important for new insights into the way accounting is done. We are able to work on new technology and understand new way of funding and doing business. The startup world is a very new and interesting thing for most accounting professionals and learning how to get the paper work and accounting done up for the startup world is important for us to do well with this group of customers.

    Ready to learn and ready to change our approach, we are keen to work with the younger startup crowd that is growing in numbers in Singapore. This group of entrepreneurs have big dreams and are ever ready to go.

  2. K Cloud Accounting has the experience of a professional with 30 years of experience

    Our director Mr Koh Swee Hock is a professional in this field for 30 years and have been working on a couple of hundred of customer accounts and corporate secretarial work. With this amount of experience, the company has grown strength to strength and solved many issues for our clients big and small.

    This allows the company to maneuver around even during downturns and also assist our customers to come back strong with the advice that we give them on how to better run their companies.

  3. K Cloud Accounting leverages on technology to improve efficiency

    Leveraging on technology is one of the main ways business improve their bottom line and also get their staff members to become more productive. Productibity is a very important component for businesses like ours.

    Using technology we can save time and effort for getting certain work done. With this efficiency, the margins can be passed on to customer to save them money.

  4. K Cloud Accounting is always ready to listen to your feedback

    With a very responsive team, you can expect your feedback to be listened to and learnt so that we are able to work on getting your work done on a timely basis with the highest quality of standards.


 

K Cloud Accounting is a cloud based accounting services firm in Singapore which uses Xero Accounting as our base accounting software to service our clients needs.

Two main groups of people that a business needs

Running a business as a startup is tough and many people know that. It takes up a lot of time and a lot of energy and you are not sure if it will even work out. You will end up spending a big bulk of your life just trying to get things off the ground.

What really makes it so tough is the inexperience of most founders in managing a business and also how to scale the business to the next level.

There are many things that you can do to learn how to grow a business. Every business is unique, there is not one size fits all when it comes to running a business.

But at the same time, there are pitfalls that are common and there are routes that are great short cuts that you don’t see when you can actually take if you have someone pointing out to you.

There are two groups of people that you need as your left and right hand people when it comes to running a successful business.

  1. Your accountantsThis are the people who will keep you reminded on over spending and whether you are profiting, are you doing well and able to go far and do better. This is important because the accountant will be the watchful eyes and also the adviser who will be able to tell you what to take note of and where to save money on.

    Accountants are also important to remind you that you business is either not profiting or cash burning too much somewhere.

    This people can make or break or change the course of your business for a longer runway and towards success so do not forget to have them in place.

    Also don’t forget that they can help you tax planning and save taxes too.

  2. Your lawyersNavigating in the business world is tough without someone telling you what you are doing is legal or not. Having someone on hand as an adviser is always great when it comes to making decisions and coming up with contracts.

    There are many things that the lawyers can help you to watch out for and this is also something that lawyers are great at. They will be able to make sure you are on the safe side in legal sense and make sure you don’t step into problems

 

K Cloud Accounting is a leading bookkeeping services Singapore company. Contact us to get a quote now!

10 tips for Singapore Startup founders

10 tips for Singapore Startup founders – Starting up is a tough thing to do. No one wants to jump into the deep end and try something out with no idea whether it will work out. Startups take up a lot of time and it needs a lot of effort and determination to bring your vision to life.

Starting up has its many difficulties but also through the many challenges one could learn a lot more about business and also about life in general.

We will like to share 10 tips for Singapore Startup founders that might helpful for the budding entrepreneur who just needs this little tips to tip the game in his/her favor a little more:

  1. Be prepared to be paid close to nothing for a few months

    Most people going into business assuming that they will take off and make good money within the first few days or weeks. But in actual fact, no one sees the years of the founders not making any money at all and suddenly hitting the jackpot and achieving great success.

    This periods are tough, especially for those who have family to feed. You must be prepared with some savings that will allow you to last for awhile

    Most founders do not prepare for this and when the time gets tough, they give up, but they might just be one step away from the success that they wanted. This is also one of the reasons why most startup fail, because most of the time the startups don’t fail, the founders fail.

  2. Have enough capital or raise enough to last at least 1 year in trying to fulfill the vision

    Most of the time, founders only prepare 6 months worth of runway for themselves, after which they are on the deep end of the pool and hoping that they do not die. That is the mistake that most people make. The problem with businesses is, it takes time for people to find out about you and learn about your business. And when the time is up, you have already burnt through your cash and is prepared to shut down.Starting up capital can either come from your own savings, finding an angel or raising funds early.

    But without much of a proven idea or product, no one will want to fund you. Be prepared to use your own savings to bring things to the next level, because if you do not work hard and pay for your own projects, no one will.Remember that the 1 year timeline is not hypothetical, usually for most startups, this is usually the case.

  3. Harden your skin when the doubters try to put your down

    Are you someone who likes to be loved by everyone around you? I am sorry you are not fit for the entrepreneurial world. In this world, you get scoffed at and doubters are going to doubt you at every turn. That good friend of yours will start to ask you why do you even bother and go find a proper job.

    Your usually very supportive family members might be the first to remind you that you are not young anymore and that all this “fooling around” should stop.We have been there and done that and we know what are the potential haters words and we just want to prepare you for the tough parts.Harden up, dig in and make it work. No one gets to a successful level without letting the haters hate and letting the doubters doubt.

    And when you “suddenly” become successful, the doubters will wonder why they doubted in the first place.

  4. Pick up sales skills

    As an entrepreneur, the single most important skill is to be able to sell. Either sell your product or service or sell to investors.

    Every other skill can either be outsourced or capabilities built in-house through hiring, but an entrepreneur that can’t sell should not even bother starting up at all.

    The single most important thing that you need to do is to go out there and find more customer, close them and bring the dough in.Even if your product is not something that can be sold easily, you need to sell your idea to potential investors for you to raise funds so that you can throw them at the problems you might have. If you cant sell, you are highly dis advantaged

  5. Talk to fellow entrepreneurs

    Fellow entrepreneurs are probably the most forgiving people because they have been through what you are going through right now.There are many mistakes that can be made and also many paths that can be avoided.

    For someone that is starting out, seek out this fellow entrepreneurs, let them give you an idea and a guide to where you should go and what you should look out for.This fellow entrepreneurs needs not be doing similar things, neither do they need to be in the same industry.

    Problems such as management, fund raising or even finding an office space might be things that will be of much help if you get advice and ideas from fellow young entrepreneurs who will be kind enough to spend time with you to guide you and help you to find an idea on how to get pass some of this problems.

  6. Find a mentor in the same sector/industry

    Fellow entrepreneurs might see problems that you don’t, but someone that has been through many years of entrepreneurship might be able to see way more than any of you can.Finding a mentor with the right skill sets and also experience is important, this person can give you an idea of how they became successful and what it takes for you to be.The mentor that you choose is also important because he or she can shape you up to become quite a different person with diverse views and this might change the course of your life going forward.

  7. Learn fast, change fast, maneuver fast

    There is a saying, fail fast so that you can get up fast. When you start a business, there is no such thing as a straight road to victory, you will meet challenges and you will have to conquer them one after another.Are you going to be able to learn fast and get up fast and change your plans. This is important for this fast moving world where being slow might mean that you do not have any more space to survive in this challenging world and market.

    When you fail fast, you recover fast, the faster you are at reaching your goal, never stop pushing and never stop trying, the hardest part in a business is the start, once you push through the initial periods, you will make it.

  8. Decide on whether to raise funds or get financingRaising funds means you lose equity but it also means that you will have money to keep growing and grow faster. Getting financing means putting your own money on the line, putting yourself forward.

    The decision is up to you because there is a period of time where you might have problems and might want to know that the money is not yours.

    Decisions like this will make or change the company because the fund raising will mean losing some form of control that some founders may not like.

  9. Have an end goal in mindWhat is the end goal. What are you working towards achieving, the vision is what matters and when you want to work towards an end goal with your startup, you should try to achieve something out of it.

    The whole point of it is to have a vision that you want to work towards, so you wont feel tired or give up half way because there is a goal you are working towards.

    Make sure it is clear, make sure it is workable!

  10. Enjoy the whole processCongratulations, you made it to point 10. The whole point of starting up is simple. You have a vision that you wanted to fulfill and no one else is doing it. You decide to start up to fill that space or to reach that vision.

    So why make it such a stressful process when you can instead learn to enjoy it.

K Cloud Accounting is a full suite management services company offering affordable accounting services in Singapore.

 

10 tips for Singapore Startup founders

4 reasons to have a professional corporate secretary for your Singapore Company

4 reasons why you should have a professional corporate secretary for your Singapore Company – Every company requires a few set of key office holders. You will require the director of the company that will be making executive decisions and also run the day to day work of the business. There is also the shareholders who usually are the one funding the business and also own the business as it is running. They will in turn appoint the directors that will be in charge of running the business.

Director’s work closely to deliver results for the betterment of the shareholders equity and therefore receive a salary or bonus.

There is also another set of company officials that are important to the running of the business and also the best to advise on the methods of running it. The corporate secretary is a key person in the running of your private limited company and making sure a few things are done right before you go ahead with either growing or selling your business. Let us share with you the 5 reasons why you should have a professional corporate secretary for your Singapore Company.

1. The corporate secretary ensures your corporate governance is done right

For most business owners that are first time starting up, you will have no idea what are some of the key concerns that you might have when it comes to corporate governance. Corporate governance might not be that much of a concern at birth of the company or when you are not funded by someone else. But once the business starts to mature and when other parties start to join the company, the differences in having a good corporate secretary versus not having one can be very clear.

Corporate governance also ensures timelines are met, there are many legal timelines to follow to make sure the meetings are in effect and an experienced corporate secretary will be a good person to have when you as an entrepreneur is not too familiar with such legal timelines.

2. Deadline reminders for busy business people

When you are busy running your business, you might miss timelines such as your AGM and tax submission dates. The good thing about having someone who is ready to remind you will outweigh many things. The corporate secretary of a company receives reminders as well and usually have a system to keep track of all the deadlines of their customers. With a good system in place, they will be able to alert you when the time is up to submit your annual return, do your AGM and make sure you do not miss any of them that might incur you late fees.

For most people who receive emails and forget them, this service will be great from the corporate secretarial services provider.

3. Advise you on legality of actions

Timelines and dates are very important in a legal document. If you need to give notice for a meeting to be effective, you need to give that notice.

The Corporate Secretary is well versed in this time lines and will be the best to advice how to make sure all processes are done legally.

Whether someone can or cannot appear at a meeting is also important, the corporate secretary will be able to give guidance when such disagreements appear.

4. Neutral person when there are arguments

Most businesses have multiple partners and directors. As a corporate secretary, you are suppose to be a neutral party in any discussions.

The corporate secretary will be able to give a fair opinion for the directors and shareholders to make decisions that will allow the best for the company and also for the shareholders.

The corporate secretary will also have to take the side of the company and not any of the members of the shareholder and directors.

 


K Cloud Accounting provides high quality corporate secretarial services in Singapore for Singapore startups and SMEs.

Contact us to find out how to work with us today!

4 reasons why you should have a professional corporate secretary for your Singapore Company

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