Entrepreneurship: What does it REALLY mean?

 

Perhaps you are exploring the launch of a new business. You have doubtlessly done some research, come up with the advantages and disadvantages, and now you are pondering where to incorporate your new company. Perhaps you have vaguely heard about Singapore however are not quite sure if a far-away place like that works for you. Singapore continues to lure many international entrepreneurs and investors to the country through its business-friendly policies and attractive tax system. The recent strife in Hong Kong has become the pre-eminent gateway to Asia for most western firms. If you are wavering about selecting Singapore for your new entrepreneurship venture, here we summarize the core factors you ought to consider before you make your final decision.

 

There are no restrictions on foreign ownership when starting your company in Singapore. This is true for both corporate and individual shareholders. Essentially, it means that all the benefits and assets of a Singapore company can belong to a foreign individual or corporate. For entrepreneurs who have already set up their base in Singapore, satisfying these conditions should not be an issue. Companies that may have several subsidiaries throughout the region can utilize the FTC pooling system, which grants businesses more flexibility and reduces their Singapore taxes payable on remitted foreign income.

 

You can come to Singapore as a regular visitor and deal with all the formalities of opening a company. In some situations, you may be able to start the company without a need to visit Singapore. Even however the law requires you to have a local registered address for your company, it is unnecessary to acquire a physical office, and companies can use a virtual address. It makes things significantly more convenient, creating a business-friendly environment for start-ups. Entrepreneurship isn't about transacting items and services. There is a social entrepreneurship that concentrates on discovering solutions to a local area problem.

 

As technology improves with new ventures being introduced daily, entrepreneurship is also becoming more technologically savvy. It includes various techniques involving technological aspects, such as computer science, business management, marketing, etc. Entrepreneurship has come to depict the idea of starting a business by starting something new in an industry that is already prevalent. Entrepreneurs don't just zero in on creating a company, yet they also have to figure out new ways to penetrate markets and develop brand awareness. The most ordinarily practiced form of entrepreneurship is Internet entrepreneurship or e-commerce ventures. You can click here to check out SMEPortal.sg for more information on entrepreneurship.