Did you know? Singapore is one of the top Data Center locations in the world

Did you know? Singapore is one of the top Data Center locations in the world – Recently, caught up with a friend of mine from army who is currently in the structured cabling Singapore business.

We had a long chat about how the business world in Singapore is changing and also where opportunities are.

We came to realize that he has been running a network cabling contractor Singapore business and we will like to share more about this very interesting industry that has been growing really well and been one of the top growing industries in the Singapore.


Did you know? Singapore is one of the top Data Center locations in the world, this is our topic today.

So based on the recent news, Singapore is ranked 2nd for the top data center location in the world.

https://www.straitstimes.com/business/economy/singapore-among-top-10-data-centre-markets-in-the-world-reports

Let us list down a few reasons that we wish to share and talk about.

  1. Top location to do business in the world
  2. Great legal framework in regards to data protection
  3. Stable electricity generation
  4. Good number of engineers that are able to handle data center frameworks
  5. Stable Political outlook

Singapore is definitely one of the top locations to do your incorporation services.

If you are keen to find out more, you can read the article on Reasons why Singapore is a great location for Data Centers.

We will be glad to share that we are hoping that more Data Centers will come to Singapore and make the economy even more vibrant.

We also look forward to more technology startups to come to Singapore to set up base here.

We work closely with businesses from around the world to work on this for them.


K Cloud Accounting is a Singapore bookkeeping services provider providing high quality work for our clients in Singapore and overseas.

Emerges-Plus is a close partner of ours providing high quality data work.

They are also Panduit Partner Singapore and CommScope Partner Singapore.

Speak to us now to find out more about corporate secretarial services.

7 Strategies and methods to grow your business in Singapore

7 Strategies and methods to grow your business in Singapore

7 Strategies and methods to grow your business in Singapore – Everyone business owner face the same problems. How do they grow their business so that they will be able to improve their revenue and end up with more profits.

Business in Singapore is tough, very tough. For such a small population of people, there are many highly talented people competing for the limited pie of business.

There are many persons who are highly educated and able to produce good work at affordable prices.

Lets start on our article of “Strategies and methods to grow your business in Singapore”.

  • Grow your marketing (especially digitally)

Marketing is something that everyone thinks they know but not everyone does it well or efficiently. It is not just doing Facebook or Instagram post and then leaving it there. Neither is it doing a boosted campaign and expect everyone to see your post and come to your business.

You will need to motivate people to come to your place and also to show them there is social proof that you are doing well and a lot of customer enjoy your services or products.

This is where influencer marketing came about. The new age marketing methods uses a lot of social proof to get things moving along.

Online marketing such as Singapore SEO Services are definitely something that can help you to stand out amongst the crowd.

  • Grow your outreach

There are various ways to build an outreach. Outreaching to customers and potentials is how you keep your business growing.Social media is one of the main ways to drive outreach and to engage your customers.

Having post that will help them to understand what you are doing. The post also needs to be interactive.

Blogging is another way to do just that. Blogging helps you to educate your customers, especially if they are not sure of what is going on.

Outreach growth builds a funnel of potential customers that will convert to sales eventually.

 

  • Grow your public relations (PR)

Will you trust someone who has been on the newspaper or on the radio before or will you work with someone that has not?

Everyone likes to work and talk to someone who has some fame. Fame for a business also helps it to grow.

Did you know Public Relations or PR can be done by a PR professional who is able to assist you to gain more attention from the media.

This helps you to grow your business and builds up a stronger base for you to jump off from.

 

  • Take loans to speed up growth

Most businesses try to avoid doing this. Because they see loans as a risk to their future. But most business owners do not understand that if they have a plan and the plan needs funds. Taking a loan is probably the fastest way to get there.

With the pandemic causing havoc in the economy, most corporate loans are at record low interest rates right now.

With close to zero interest rates, most business owners should take advantage of such loans to grow their business outreach or to speed up their internal transformation plans to keep up to the times.

Getting a business loan consultant in Singapore can be a great way for you to gain access to loan much faster and also to maximize the amount you can go for while also reducing the interest rates and fees.

  • Network with more business people

Nothing beats having a personal relationship with the potential clients of yours. There are definitely people who are out there that you will like hanging out with and doing things that are exactly what you need.

Will you prefer working with someone you know personally versus finding them on Google?

Networking is one of the best ways to meet people, everyone wants to know more people and to build a strong network of contacts for business or even personal purposes.

Joining groups that have a business slant or even for those that have common interest in say cars or community work will help you to meet more people!

Popular ways of networking is also to join trade or cultural associations. Associations gather people of the same walk of life together.

They will be able to share some ideas and also their personal network with you so that you can improve your outreach for your busines.

  • Find a trusted and proven mentor

Running a business yourself when you are new to this world is very daunting. You may not know what is going on or you might just have the basics and within a year get stuck at where you are.

Having someone who can guide you will be great for your business and personal future.

A proven mentor is definitely someone who is much more experienced than you and also someone who has success in growing their business.

 

  • Be known for something

The fact for most businesses in Singapore is that they do not care much about how others see them.

If you are known to be the cheapest, be that.

If you are known to be the fastest, be that.

Work on differentiation and you will be outstanding!

 


K Cloud Accounting is a Singapore based Accounting firm and Bookkeeping Services Provider.

We use Xero Accounting Software to assist our clients in their accounting needs.

If you require help in your business management, speak to us.

We work closely with our customers to provide Bus Rental Services Singapore as well.

We also work closely with many business consultants to assist businesses in growing and also improving their businesses to reach greater heights, speak to us for a recommendation!

Thank you for reading our article on “Strategies and methods to grow your business in Singapore”.

7 Strategies and methods to grow your business in Singapore

Hopes and Wishes for Singapore Budget 2019

2018 was quite a normal year for most businesses in Singapore. What wasn’t really normal was the trade war that has affected the businesses that are directly engaged in the crosshairs of both China and the USA and that would be those involved in trading. With such headwinds still building up with not much of a clear sign of clearing up, we expect things to remain equally challenging for those in the trading sector.

Oil and Gas hasn’t seen much of a big gain and has been fairly still on the low side and with the recent fall of oil prices, unlikely to make much of a recovery this year with the trade war still pretty much in full swing.

The world economy has shifted towards autonomous production and services. Gone are the days where industries that rely on high volume of manpower continue to rely on high volume of manpower.

Singapore will continuously face the challenges of the new world where production and services get lower in cost and price pressures will be to reduce prices overall. We will see some of the lower level jobs slowly move overseas even further and also some financial jobs that are more basic to start shifting to our neighbours.

Some of the businesses in Singapore are therefore seeking assistance and we are looking forward to a few things from the upcoming budget and hope to see good progress for the nation from it:

1. Continuing its support to digitize the economy

The economy which has its main focus in services especially financial services will need to keep growing to keep the economy of the country going strong. The government has over the years supported the digitizing of the economy and we hope to see more being done on this portions to help other service sector businesses to grow further down the digital stage. With the advent of E-Commerce, more and more retail businesses are suffering great competition and could really need some help with going online.

2. Supporting those who have to and need to shift overseas to cut cost

High cost in terms of manpower and land in Singapore is pushing most factories in Singapore out. There are barely any space left for Singapore manufacturing to chug ahead, for those that are low margins, the government could provide some support through its agencies to assist those who were to choose the option of moving out to help them set up overseas.

3. Sector based manpower deployments

Manpower is still very tight in Singapore and everyone knows that its tough even for the government to get it right. We should really look more closely into not just sectors but also into specific industries where Singaporeans are really not seeking jobs in and help to supplement with foreign labour, if not we are really stuck in the cycle of not being to deliver much because of the manpower limitation.

 

Looking forward to a good budget!

 

Why you should consider cloud bookkeeping over traditional bookkeeping

Why you should consider cloud bookkeeping over traditional bookkeeping – Traditional bookkeeping went from having just the pen and paper to the computerised excel spreadsheet and then the  desktop based accounting software entry. Accounting has changed and moved up the productivity range by quite a bit since the good old days. Gone are the days when you have to spend days just to do up the bookkeeping work for a business that is running well.

You can complete most bookkeeping and accounting work within the day and if you are proficient, in an even shorter time than that. Over the years there are new innovations that continuously help this industry to improve and at the same time help to allow the accounting industry to save on cost by being more productive. We will explore this changes and also look into the advent of cloud accounting and cloud bookkeeping software that are able to improve the productivity of accountants even more than what it already is.

Why you should consider cloud bookkeeping over traditional bookkeeping

So why you should consider cloud bookkeeping over traditional bookkeeping:

Reason 1: Cloud Accounting allows your customer to partake in the bookkeeping process

Most business owners have accounting software or they will use excel or words to issue their invoices. This is something that can be done through cloud accounting software like XERO accounting. Cloud accounting software allows your customer to look into doing up their invoicing from the software that you are also using to do your bookkeeping and accounting work.

You customer will also be able to save time and increase their productivity when they need to issue new invoices through this system. This is something that most business owners will really love. When you are running around trying to close deals, the most convenient way is to be able to issue quotations and invoices on the move.

The fact that you are able to issue quotes from your mobile devices is one of the main advantages why you should consider using cloud accounting software. You are able to email the quote straight to your customer while your are chatting with them. And when they confirm the quote, immediately use your mobile application to issue the invoices, this saves you time and effort and your customers will be impressed with your efficiency.

Reason 2: Cloud Accounting allows access into accounting data wherever you are

In the past, when you need to find out how much you made for that month or how much you spent for that month, you will need to wait until the end of the month after the accounts are done and then you will need to wait for the reports to be generated for you and then sent to you. This takes up too much time because for a business owner, the most important thing is when they have information that is able to help you make decisions to help you improve your business.

Decisions that are made early in the business can help you to grow faster than your competitors and win in the long run.

You will also be able to access your bank data early on so that you can check on how much there is in your bank through this application as well.

This not only helps with bank reconciliation but also how your money is moving in and out of your business.

You can also view your information across platforms such as your phone, your laptop, your desktop and your tablets.

 

Reason 3: Cloud Accounting allows you to operate even when there are updates on the software

The problem with my desktop based software is that there are down times that you have to factor in. You have to download patches as they come which takes a lot of time and when you are installing the patches, you are not able to work on the accounting of the company.

Businesses do not have such luxury of time and if the team is a 4 man team, 4 man time is wasted while the system is updated.

This is something that most business will have to face if they are using software that require updating on a regular basis. If there are security breaches, its even more important that you get them updated immediately.

Down time is unavoidable in this case and this is something that many have to consider with the traditional accounting methods.

 

Reason 4: Cloud Accounting allows you to be at the forefront of technological changes

As the updates are updated in the dead of night when most users are not using it, you do not need to worry about down time. You will also be able to use new features as they are updated to your system. The good thing about cloud based system is that you get changes as they are being improved for your use.

Cloud Accounting allows you to try out new functions that the company wishes for your to try. For example, Xero has recently added the function of receipt scanning for users who wish to try them out. This allows you to save time and also effort in getting your receipt data into the system. At the same time you are able to compute and finish up the bookkeeping work at a faster pace than usual.

You also get pushed new data which may become useful for you as your business grows. You might not find a use for it right now but eventually you might. So why not have that option open for you.

With new technology comes extra advantage over your competitors, with that you will be able to ensure you can win easier than the rest of them.

Reason 5: Cloud Accounting is cheaper to start off with

Accounting Software that are desktop based can cost a lot to start off with. With most system costing in the thousands, you might not have that kind of funds to use them in the first place.

Most businesses start off with very little financial support and this is something that is limited. You will be better off spending money on other more useful products and services than on an accounting software.

Cloud Accounting software has a benefit where it is subscription basis and they cost you just $30 usd a month to run and operate on. If you require less features it can even cost you even lesser.

You will also get to try out new functions along the way. This leaves you with more funds for other uses and you will not have to get a headache from trying to find out how to find funds to just buy an accounting software.

 


Starting a business is not easy, there are many issues that you have to work on and iron out before you are able to get into profitability. There are also decisions that are tough but necessary and if it involved cutting cost you will have to do it.

We are glad you spent time to read out article on “Why you should consider cloud bookkeeping over traditional bookkeeping”.

Decisions are made in the best way possible when you have information to back those decisions.

K Cloud Accounting is focused in assisting Startups and SMEs in this journey through our dedicated Xero Cloud Accounting services for Singapore.

K Cloud Accounting is also able to assist in Taxation, Incorporation, Corporate Secretarial and Payroll Services.

Visit our site now: http://kca.sg/

 

Why you should consider cloud bookkeeping over traditional bookkeeping