7 Ways Outsourcing A Corporate Secretary Empowers SMEs

Secretary Outsourcing

It’s exciting, it’s painstaking, it’s rewarding, it’s very trying. Welcome to the world of an entrepreneur!

Are you the type of person who loves to initiate things? Are you driven by your imagination to turn a profit from your passion? Do you have a determination that never weakens despite the seemingly insurmountable challenges? If you answered yes to all these, then you have the heart of an entrepreneur.

Entrepreneurship goes beyond just finding an alternative means to make money, or a source of extra income to augment the wages that you receive from a day time job.  Entrepreneurs create a big difference to society and to economy. Most successful entrepreneurs are those who see a need to disrupt the norm, or spark a revolution for better things to happen. Think about the likes of Sir Richard Branson or Jack Ma. These individuals, highly successful as they are now, always have their creative caps on, defying conventions and exploring new possibilities!

This may give the idea of entrepreneurs starting out with the sweet taste of success upon their lips, but it is not so. Go and read their life story and you would know that Sir Richard Branson was a school dropout at age 16, and Jack Ma lived in abject poverty in Communist China, failed his college entrance examinations twice and was turned down on job applications several times.

What made the difference for these entrepreneurs is their indomitable spirit, and of course, a good sense of doing things smart in their business.

In the world of entrepreneurship, anyone can become a Sir Richard Branson or a Jack Ma if he or she has the right attitude for it and has the support he needs.

One such support comes in the form of available resources, such as professional corporate secretary service providers, who would assist you in setting up your business the right way.

How partnering with a Corporate Secretary Service Firm empowers your business

What do you think is the role of a corporate secretary?

corporate secretary job description

If you answer it using traditional paradigms, the role of the secretary could be described as:

  1. Take orders from boss.
  2. Schedule the boss’s appointments.
  3. Take notes from meetings.
  4. Get the boss’s coffee.
  5. Prepare memos.

This is about right, right? Wrong!

If you are a progressive thinker, then you would know that the role of a corporate secretary has expanded beyond this, to include:

  1. Properly register the business.
  2. Ensure compliance with statutory regulations.
  3. Provide relevant advice on latest regulatory requirements or directions to benefit the business.
  4. File and keep relevant reports.
  5. Make information ready for business owners to be able to decide on critical matters the right way and on time.

Because of that, corporate secretary service is offered by professional firms that aim to assist businesses, SMEs in particular, to navigate the world of entrepreneurship with ease and success.

What are some real benefits of outsourcing Corporate Secretary Service?

Consider these benefits when you leave the challenging work of business registration and compliance to a professional and reliable corporate secretary service firm:

Benefit #1: Savings from setting up the business right from the first time

Business Structure

Corporate secretary service firms that have been in business for years offer you the advantage of knowing the ins and outs of business registration. Based on the size and composition and the nature of your business, corporate secretary firms will be able to advise you on which business structure is best for you. Choosing the business structure has far reaching consequences on tax compliance and the flexibility for business expansion in the future. So you have to choose your business structure right the first time.

Remember, every wrong move could mean loss of money for your business for having to do things over again, and let’s not forget the time wasted. To get things done right on the first time, choose a reliable corporate secretary firm to partner with.

Benefit #2: Risk mitigation

Corporate secretary SG

You don’t need to expose yourself to unnecessary risks of being at odds with the government just because you unknowingly did not file the right taxes or reports. You can nip risks at the bud if you have a corporate secretary in place who will take care of compliance and reports filing for you.

Benefit #3: Focus on growing your business

Focus on growing your business

Filing taxes and statutory reports on a regular basis is hard, tedious, and time-consuming work. If you delegate this job to a corporate secretary firm, you can use your time to more productive endeavors. For example, you can switch your focus to more important things like polishing your brand, thinking about new opportunities to scale up your business, or hiring the right persons for your growing organisation. Leave the job to the experts – let corporate secretary service firms do their job so you can do yours!

Benefit #4: Play big, even when you just started yesterday!

Play big, even when you just started yesterday

Outsourcing from a professional corporate secretary service firm levels the playing field between big firms and startups. As clients, everyone gets the same high quality and dependable service regardless if your business only got set up yesterday while the other businesses have been established for many years now.

What’s more, engaging the service of a reliable corporate secretary means you are also harnessing years of experience and high level of competence of this secretary in handling the requirements of already successful businesses. And you don’t even need to pay extra for the big extra you get in return!

Benefit #5: Savings from not having to hire full time employees with full time benefits

Savings from not having to hire full time employees

You’re not just getting savings from cash flow, you’re also getting savings in terms of advertising fees for hiring the right candidate, the time you would have had to spend interviewing, and the time to train a new hire.

When you engage a corporate secretary service provider, you get the whole package at the fraction of a cost!

Benefit #6: Have a worry-free business, stay always compliant

worry-free business man

Do your business worry-free of tax penalties by making sure you’re doing your part as an entrepreneur to comply with government reporting and tax filing requirements. The last thing you would want to happen is for the government to lodge tax cases against your business, which might lead to closure and many other problems. Let the corporate secretary service firm take care of this for you.

Benefit #7: Speed up the growth of your business!

speed-up-business

Speed attracts profit. If you are slow in a highly competitive world, then it would only be a matter of time before a competitor launches a prototype of the very same idea you had hatching in your mind. Don’t get bogged down by secretarial works – when you have a corporate secretary service provider that gets your business going like a well-oiled machine, you can take your business to the highway of success fast!

There you have it: 7 solid benefits of outsourcing business registration, reporting, and filing works to a professional corporate secretary firm. The next important step for you to make is to choose a reliable service provider whose only goal is to help your business succeed from the ground up. How do you know Corporate Services Singapore is a service provider you can count on? Don’t take our word for it – read from our satisfied clients to find out proof of our work.

We hope to serve you soon, and see your business at the top!

Posted in Taxation Right.