Do It Yourself Vs Engage A Corporate Service Provider

Do It Yourself Vs Engage A Corporate Service Provider in Singapore

We live in rapidly changing times, especially for businesses. As such, challenges are everywhere. And businesses – in general, and start-ups in particular – are no exception to the myriad of challenges that we have today. Often, small business owners and young entrepreneurs are on a tight budget during their start-up’s phase. Most of them are “cash trapped” and they tend to micro-manage all aspects of the business with a do-it-yourself mode. However, things may not be as positive as we think when it comes to incorporation and the compliance matters of running a business. Therefore, it’s advisable to engage a professional corporate service provider.

 

What is a Corporate Service Provider?

There are many types of corporate service provider, which depends on their specialties and services. The basics of a corporate service provider are to provide business support services to other businesses, be it in tax accounting, or company incorporation, or legislation, which is done through specialised knowledge and experience, best practices, and technology to serve customers and business partners.

 

Why Engage a Corporate Service Provider?

We all know that it’s not an easy task to setup a new business. The initial stage of setting up will be more challenging than the subsequent course of running a business. You might need professional guidance to sort out which type of entity suits the nature of your business. In addition, there are other legal formalities that should be appropriately addressed and adhered to during the incorporation phase.

 

Advantages of Engaging a Corporate Service Provider

1. Comprehensive one-stop service
   Rest assured, you are building a better business with outsourcing. From the initial stage as to decide the company name to find the right corporate secretarial partner, a professional firm could provide the service in a hassle free manner. This will remove a bulk of unnecessary workload from the limited resources of a start-up or a growing company.
2. Time saver
   It will definitely save you time if you engage with professionals to run your business. By engaging a professional service provider such as attorneys, accountants, and management and marketing, you will also be introduced to a network of allied professionals and service providers such as banks, investors and lawyers. They possess specialized knowledge about niche areas that you couldn’t–and shouldn’t–hope to duplicate either personally or in the form of an in-house employee. If you are running business overseas, a well-established service provider can help you find potential investors and partners as well. This will save time for you in a foreign country and it will be easier to get your business off the ground quickly.

 

Why 3E Accounting?

As one of the top market players in Singapore, 3E Accounting Pte. Ltd. is a firm that provides professional incorporation, accounting, tax, immigration and compliance services for start-ups as well as small and medium-sized firms. What’s more, 3E Accounting is very well-versed in the Legislation and Guidelines for Corporate Service Providers and the Accounting and Corporate Regulatory Authority Act 2014, all of which are crucial for business.

We understand that you have big plans for your business and you are ambitious to achieve them all. Let’s us take care the operation and management while you can proceed with your bid plan. Contact us today to know more.