Government Sites
IRAS
For tax-related purposes, including personal and corporate tax, the Inland Revenue Authority of Singapore is one website that you must know for any accounting-related purpose.
M.O.M
Hiring and recruiting manpower for your business will mean understanding the laws and requirements as set out by the Ministry of Manpower.
ACRA
Before registering any company, you first need to create an account and comply with the Accounting and Corporate Regulatory Authority, a statutory board for audit purposes.
CPF
Unique to the Singapore employment framework is the Central Provident Fund board which is set up to ensure that the average Singapore worker has enough funds for their retirement. Every company, therefore, has to contribute a certain percentage of their employees' salary to this mandatory savings account.
Banking & Finance
DBS
The Development Bank of Singapore has over 50 years of history with more than $646 billion assets under management making it one of the safest banks to open a corporate account with.
OCBC
Winning the best SME bank in Southeast Asia 2021, the Overseas Chinese Banking Corporation bank is another favourite with SMEs for opening a corporate banking account.
Maybank
For SMEs that prefer starting an account with a smaller starting capital, this Malaysian Bank is an excellent choice with their preferential rates.
Business Support
Marketing
An essential component of any business with a desire to grow and expand, leveraging on available online marketing tools and resources is a must.
And one of the best advertising platforms to get started with is the Google Ads platform. By targeting an online user base who are actively searching for phrases around services that your company provides, it skips the initial marketing stages and brings you a more targeted audience.
Another popular online marketing platform for SMEs and larger corporations is the Facebook Business Manager. By tapping on the data of the metaverse, companies can send out targeted advertising campaigns to their desired group of audience.
Workers & Employment
A business is only as successful as the people it employs. Finding and retaining talent is a core function of that objective.
While there are free job boards and recruitment exhibitions that SMEs can rely on, we've found that using a premium job portal tends to bring about a better quality of candidates.
For many businesses, a large pool of their employees tends to be foreigners. As these workers continue to stay and work here, many end up deciding to apply for a Singapore PR and migrate here permanently. A company can support their staff by writing a recommendation letter that helps increase their chances of getting approval and in return, the company retains a talent.
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