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Beginner’s Guide on Starting a Music and Arts Business in Singapore
In recent years, the music and arts industry has been one of the driving forces of Singapore’s entertainment business. With many initiatives by the government and local creators, music and arts are becoming more accessible for Singaporeans everywhere. The music and art movement is steadily moving forward, breaking norms and boundaries each day.
As the standard of living in Singapore increases, more people look for new ways to entertain and improve their lifestyles. This has led to more and more musicians, actors and performers coming into the fold. New art institutions and distinguished music schools are cropping up all over Singapore. With that in mind, there are plenty of ways for a business owner to decide the direction for their company.
Starting a music and arts business in Singapore can be pretty intimidating if you have no idea about your next course of action. But fret not! If you are interested in starting an art and music business, you have come to the right place. In this article, we will be exploring the industry practices and which licences and permits you will be needing. Plus, we’ll also tell you where to find quality help to set up your business. Keep reading below to find out more regarding the guide to company registration in Singapore process.
What is a Music and Arts Business?
The music and arts industry generally includes dance performances, art exhibitions, theatre plays, orchestra concerts and operas. The genres are endless, and there is something for everyone to enjoy. Having an enormous outlet for these kinds of events is beneficial as it allows more spectators and art enthusiasts to enjoy themselves. Nobody is too old to indulge in arts and music. Music businesses today are offering various classes on how to play musical instruments, singing and vocal lessons. On the other hand, the arts businesses have flourished just as much, with new and creative hobbies such as coffee-art, crocheting, pottery, polymer-clay jewellery making, candle and soap making etc., and on the rise.
With the increased interest in the music and arts in Singapore, you can definitely take advantage of this situation. From music concerts, opera plays, theatre plays, poetry reading, small musical gigs to live shows, there are plenty of businesses that you can create and build on. The music and arts business in Singapore is truly vast, and the limits are only your creativity!
Singapore’s entertainment scene offers some of the best services and enjoys a firm position in the economy. The Singaporean Tourism Board (STB) has continuously improved the diversity and variety of skills and music options to help propel the demand for the music and arts industry. By working together with art galleries, theatre and entertainment centre owners, the STB ensures that there will always be music or arts events. Furthermore, many local music event organisers coming to the fore.
Preparing for the Business Registration Process
Starting a music and art business may be a challenge, but it can be a smooth sail, given that you start right. You will need to prepare as a business owner, making sure your company is registered correctly. First, you will need to register with the Accounting and Corporate Regulatory Authority (ACRA). Like any other business in Singapore, ACRA is the body of interest that you can go to register for your business.
When registering for your business, there are a few choices for you to choose from. Prior to registering your company with ACRA, you will need to determine what type of business you are planning to do. Your company can either be a sole proprietorship, limited partnership, limited liability partnership or company. Each business entity comes with its own set of benefits and disadvantages. To find out which system is suitable for your company is crucial, so you will need to do thorough research.
Before registering your company, make sure you have figured out several important aspects of your company. You will need to plan your budget and start-up capital, choose a company name, shareholders and directors, premise and acquire licenses. Registering a business may be straightforward, but a lot more goes into the setting and running a thriving art and music business. Having corporate service providers to assist you in your entrepreneurial business can be a great way to stay on track with your company goals and comply with the law.
What Licences or Permits Would You Need?
If you require construction or renovation for your business venue, you will need to apply for a building work permit. You can use the Building and Construction Authority of Singapore (BCA) to provide advice and tips on the application requirements. Essentially, Singapore sets a high standard of quality for corporate operations, including building standards as well. Therefore, having certified and qualified contractors and architects to do the renovation work is of utmost importance.
Before your business occupies the venue, you will need to apply for the Fire Safety Certificate (FSC) from the Singapore Civil Defence Force. On the other hand, if you are to get a business sign for your company, apply for the Advertisement License from BCA as well. When it comes to arts performances, you can choose to allow public arts or entertainment events such as live concerts, plays and art exhibitions. You can also choose to show films rated NC16, M18 and R21, which you will need to apply for licences from the Media Development Authority (MDA). You can learn more about licensing listings here.
Depending on your type of business, you can obtain either an Arts Entertainment License or a Film Exhibition License. Any events in arts or music venues will require a Public Entertainment License or a Public Entertainment Ad-Hoc License. When applying for the proper license, it is recommended that you check with the Singapore Police Force beforehand. Furthermore, if you have plans on hiring specialists from overseas, you will have to check with the Ministry of Manpower (MOM). The MOM will assess your application, and all the foreign workers will need valid Singapore work visas.
Once you have registered your company, you will need to take the next step to find a premise. You will need to find a suitable premise for your music or art business through a property agent. Your desired location must be zoned for commercial use and fully designated for music or arts performances by the Urban Redevelopment Authority of Singapore (URA). The premise that you will eventually choose for your business has to be big enough to accommodate spectators. There are also many safety and licensing issues that you will need to sort out before your business is fully operational.
As a business owner, you will need to adhere to certain conditions for your premise depending on the type of arts or music business you intend to open. It would be a wise move for you to do prior research of the surrounding location to your intended premise too. If your premise does not somehow follow the strict guidelines, there is a major chance that your application can be rejected. On that note, do check with your local municipal office if there are additional licenses that you may need to apply for. Setting up a business may require extra help. With reliable company incorporation in Singapore, you can go further.
How We Can Help You
Starting your own business is no easy task and can be overwhelming. Without any guidelines, you will need to invest much of your time into research to work on your business. There are so many facets for you to consider when starting your arts and music business. You will need a solid business plan, focus on advertisements, proper marketing, among many others. With our help, you can focus on your core business while we settle the nitty-gritty stuff on your behalf!
Looking forward to starting a music and arts business in Singapore? You are at the right place. 3E Accounting has been the pioneer of the corporate industry for more than a decade, helping new and existing businesses blossom along the way. We have assisted numerous business owners and entrepreneurs throughout the years around the globe. Our experienced multidisciplinary professionals can help you delegate the necessary licences, paperwork and application for your business so your business can get off the ground swiftly! For more information on the services we provide, contact 3E Accounting today!