So you’re returning to Singapore and are thinking of starting your own business.
Or perhaps your spouse is. For yourself, you’ll first need to check with your employer whether you’re allowed to run your own business while employed full-time. Different companies have different policies on this matter.
Registering a Business
Businesses are easily registered online at Bizfile by the Accounting & Corporate Regulatory Authority (ACRA). You may register a sole proprietorship, a partnership or a company. The cost of registering a business is as low as SGD 65 and approval is usually given within a day, if there are no contentions regarding the name of the business.
You can find a very comprehensive guide at EnterpriseOne.
Finding Premises
Businesses have lots of choices when it comes to premises. From a simple home office to a flatted factory, a vast array of locales is available with accompanying facilities and services.
The Economic Development Board (EDB) maintains a list of business parks and specialised industrial parks.
Agencies
SPRING Singapore is the enterprise development agency for growing innovative companies and fostering a competitive SME sector. It aids enterprises in financing, capabilities and management development, technology and innovation, and access to markets. It is also the national standards and accreditation body.
International Enterprise (IE) Singapore under the Ministry of Trade and Industry helps to “promote the overseas growth of Singapore-based enterprises”.
The Accounting & Corporate Regulatory Authority (ACRA) oversees the registration and regulation of business entities and public accountants, and also provides information on new business structures, compliance requirements, and corporate governance practices.
The EnterpriseOne (One Network for Enterprises) portal is a one-stop site for enterprises looking to start, sustain and grow their businesses. Its extensive features link to government information and services and include industry guides and how-to guides.
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