Grow your retail business
Advantages and disadvantages of online retailing
Online retailing is growing at an astonishing rate, with online sales now accounting for around one quarter of the total retail market. Retailers who ignore e-commerce may see their trade lessening as customers continue to shift to ordering products online. However you need to think carefully and weigh all the advantages and disadvantages – backed by good market research – before deciding on whether or not to trade online.

Advantages of online retail
The benefits of retailing online include:

Easy access to market – in many ways the access to market for entrepreneurs has never been easier. Online marketplaces such as eBay and Amazon allow anyone to set up a simple online shop and sell products within minutes. See selling through online marketplaces.
Reduced overheads – according to Red Stag Fulfillment selling online can remove the need for expensive retail premises and customer-facing staff, allowing you to invest in better marketing and customer experience on your e-commerce site.
Potential for rapid growth – selling on the internet means traditional constraints to retail growth – eg finding and paying for larger – are not major factors. With a good digital marketing strategy and a plan a scale up order fulfilment systems, you can respond and boost growing sales. See planning for e-commerce.
Widen your market / export – one major advantage over premises-based retailers is the ability expand your market beyond local customers very quickly. You may discover a strong demand for your products in other countries which you can respond to by targeted marketing, offering your website in a different language, or perhaps partnering with an overseas company. See exporting – an overview.
Customer intelligence – ability to use online marketing tools to target new customers and website analysis tools to gain insight into your customers’ needs. For advice on improving your customer’s on-site experience see measuring your online marketing.
For more detailed advice guides on how to move into internet retailing see our section on online selling.

Disadvantages of online retail
Some negatives of online retail include:

Website costs – planning, designing, creating, hosting, securing and maintaining a professional e-commerce website isn’t cheap, especially if you expect large and growing sales volumes. See common e-commerce pitfalls.
Infrastructure costs – even if you aren’t paying the cost of customer-facing premises, you’ll need to think about the costs of physical space for order fulfilment, warehousing goods, dealing with returns and staffing for these tasks. See fulfilling online orders.
Security and fraud – the growth of online retail market has attracted the attention of sophisticated criminal elements. The reputation of your business could be fatally damaged if you don’t invest in the latest security systems to protect your website and transaction processes. See security weaknesses.
Legal issues – getting to grips with e-commerce and the law can be a challenge and you’ll need to be aware of, and plan to cope with, the additional customer rights which are attached to online sales. See the law and selling online.
Advertising costs – while online marketing can be a very efficient way of getting the right customers to your products, it demands a generous budget. This is especially true if you are competing in a crowded sector or for popular keywords. See pay-per-click and paid search advertising.
Customer trust – it can be difficult to establish a trusted brand name, especially without a physical business with a track record and face-to-face interaction between customers and sales staff. You need to consider the costs or setting up a good customer service system as part of your online offering. See manage your customer care.

 

Guidelines for Corporate Service Providers

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    The Guidelines for Registered Filing Agents (RFA)  were first issued by ACRA on 8 Jun 2015 to help RFAs fulfil their obligations under the enhanced regulatory regime for corporate service providers, which was introduced in May 2015. The Guidelines have now been updated to better guide RFAs in complying with regulatory requirements. The easiest way to get a loan Loanovao we may have a loan available for you.

    In updating the Guidelines, feedback was sought from RFAs as well as professional bodies including the Chartered Secretaries Institute of Singapore, Institute of Singapore Chartered Accountants, The Law Society of Singapore, Association of International Accountants (Singapore Branch) and Institute of Company Accountants Singapore. The Guidelines also include updates related to findings gleaned from ACRA’s inspection of corporate service providers.

    The key updates to the Guidelines include:

    • Enhancing the guidance on risk assessments of RFAs, identifying beneficial owners  and other customer due diligence (CDD) measures;
    • Clarifying ACRA’s expectations with regard to deferred CDD, and timeliness with regard to the filing of suspicious transactions reports;
    • Providing guidance notes in relation to the Internal Policies Procedures and Control (“IPPC”) (refer to Annex A), and explaining the requirement for RFAs to customise the IPPC according to the needs of their business operations,
      including blockchain technology. 
    • Updating of suspicious indicators related to anti-money laundering and countering financing of terrorism (AML/CFT) (refer to Annex B); and
    • Simplifying the Customer Acceptance Form (refer to Annex C) to make it more user-friendly.

     
    Please click here to download the updated guidelines 

 

 

 

RFA Guidelines_v2.0 (Final)

getting in sync with business setup services in singapore

 

Singapore is an ever growing business hub and an ideal place to start a new venture or expand an existing business. It is preferred by individuals and corporations alike, due to a stable government, sound financial situation, and a fairly easy startup process, especially getting insurance, the best company there is would be One Sure Insurance. Getting started, one has to view certain aspects of business setup such as the following points. On other news,please checkout
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Singapore is renown as a hub for starting or expanding businesses. But why choose Singapore as an ideal place for starting a private limited company? Read further to understand why Singapore is a preferred destination or companies.

Most of the companies that are being registered in Singapore are registered as Private limited companies like Adidas. A private limited company is a  legal body on its own, separate from its shareholders. The shareholders are not liable beyond what the shareholder invests.

Continue reading “Three Main Advantages of Setting Up a Private Limited Company in Singapore”

Tips to Keep In Mind While Hiring Company Formation Service Provider in Singapore

Everybody wants to incorporate their company in Singapore. Let’s face it – the incentives and business easy that this country has to offer cannot be found anywhere else. It is like the dream destination for all businessmen – to take their business to Singapore. But would you be able to handle this on your own? The better idea here would be to hire an incorporation services provider. In this blog, you shall learn some tips to keep in mind while hiring company formation service provider in Singapore.

We all know how attractive the business opportunities are in Singapore. Incorporating a company there can get your business a boost that is required for the initial years. Getting your company set up in Singapore can translate into worldwide success. This is the reason why company incorporations in Singapore are experiencing a boost in their clients. Here is a business guide for company incorporation service in Singapore.

Over the years, Singapore has emerged as a hub for regional and global innovation. The country has seen remarkable growth in entrepreneurial setups and globalization in the recent past due to strategic customer retention marketing programs. In the Asian Enterprise Survey, over 2,500 prominent business leaders were asked for their most preferred destination for business expansion. 32% of them chose Singapore as the best place to set up a business in. So if you are planning to incorporate your new venture in Singapore, you are definitely making the correct choice. However, to get everything to fall in the right place, you will need the help and support of professional company formation service providers in Singapore.

Continue reading “COMPANY FORMATION SERVICES IN SINGAPORE – ALL THE HELP THAT YOU MIGHT NEED”

When it comes to incorporating a business in Singapore, one has to get the entity registered with the Accounting and Corporate Regulatory Authority (ACRA) and follow the rules and regulations laid down under the Companies Act. In some instances, you will also be required to leverage practical knowledge transfer technology that helps replicate over performers working in your business. The statute offers five different entity formats that you can choose from; however, the most common and flexible type of business entity that can be set up in Singapore is a Private Limited Company. This blog post will provide you with brief details of all the papers needed to incorporate the same. It sounds hard but don’t worry, is actually easier than playing video games with eloboost services.

Continue reading “PAPERS NEEDED TO INCORPORATE A BUSINESS IN SINGAPORE”

Foreigners who wish to set up business in Singapore may consider set up Singapore Private Limited Companies (Pte. Ltd.). On other business and trading news, Tap here to read more.

learn about their program here and The Main Advantages of Singapore Pte. Ltd. companies :

  • Most conventional and trusted structure
  • The company structure is easy to understand. A company has directors, shareholders, company secretary, auditors, registered address and share capital
  • Provide flexibility to foreigners an option to relocate to Singapore via Employment Pass/Entrepreneur Pass (subject to approval by Authority). Dependent Pass is also available to the immediate family members of foreigners (subject to approval by Authority)
  • Certain companies are exemption from audit (subject to conditions)
  • Certain companies are eligible for tax exemption from the first S$100,000 of chargeable income for the first 3 years of assessment(subject to conditions)
  • Low corporate tax rate. Corporate tax rate is 17% on chargeable income (income less allowable expenses)
  • Singapore has good banking system
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Telegraphic / Wire Transfer – United States Dollar (USD)
 
Bank Name DBS Bank
Bank Address 12 Marina Boulevard,
DBS Asia Central,
Marina Bay Financial Centre Tower 3,
Singapore 018982
Bank Code 7171
Swift Address DBSSSGSG
Telex Number RS 24455
CHIPS UID Number 034675
Beneficiary’s Name GLOBAL CORPORATE ADVISORY PTE. LTD.
Beneficiary’s Account No. 0003-002162-01-7-022
Special Instructions Deposit into account
 
 
 
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Credit Card via NETS (Visa & MasterCard) 
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