Why Incorporate with an Incorporation Service than DIY?
The decision to incorporate a business or not is a big step in establishing and running any business. And, incorporating a business by themselves or with an incorporation service is another big step for entrepreneurs. For them, incorporating their business helps protect their savings and other assets, lower their taxes, and win a large contract. However, the process to incorporate a business is often an unfamiliar path to take. To do it themselves leaves a lot of questions: “Where should I start?”, “How much money does it cost?”, and “How long does it takes?” Due to the complexity of the process, most entrepreneurs use an incorporation service. Why incorporate with us than DIY? Below are the advantages and downsides of incorporating a business by oneself or with us, a credible incorporation service in Singapore.
It is the cheapest way to incorporating a business. Basically, entrepreneurs only need to pay the government fees related to incorporating. However, all responsibilities are on the entrepreneurs’ shoulder because every step is taken by their concern. Entrepreneurs have to download or request the related forms from the government, complete and submit them on their own. If in the process, they mess up, they have to deal with any problems caused by their error. They may also have to face with some dangers such as a high risk of making a strategic mistake, unexpected personal and security law exposure, tax consequences, and an absence of legal counsel. This option is suitable for those who are more concerned about saving money than time and for those who have an ample time for paperwork and details.
Incorporating with an Incorporation Service
Incorporating with the service is a stress-free option for entrepreneurs because the service will file incorporation papers and help create your business. Their staff knows the ins and outs of incorporating and has sufficient experience to deal with it. After all, the service usually guarantees its service so the staff will deal with any possible problems for the entrepreneurs. Compared to DIY incorporating, this option is more expensive; however, it is definitely not time-consuming as the DIY. By using a service that specializes in corporation, entrepreneurs can focus their time and energy on their business.
In short, the choice is up to each entrepreneur. Both DIY incorporating and incorporating with a service have their advantages and downsides. Entrepreneurs should think long and hard about their situation before eventually making that choice. So, why incorporate with us than DIY? It is because the last thing everyone wants are losing all of their work on technicality and ending up hiring a professional after a long time and energy spent for paperwork and detail associated with incorporation. So, analyzing all of the parameters in their business such as its size, product, and location as well as their knowledge about incorporating a business in Singapore is important.