Sole Proprietorship

Features of Singapore’s Sole Proprietorship

Sole proprietorship is considered as the most basic type of business structure in Singapore. This is ideally recommended for small businesses owned by a single individual. It is easy to set up, takes minimal costs and simple compliance requirements. Thus, it is the favoured entity type for most first time and small entrepreneurs General Characteristics […]

Singapore's Economy

Singapore’s Economic Transformation: Reinventing the Economy Built for the Future

Since becoming independent in August 1965, Singapore’s economy has grown rapidly. Often called Southeast Asia’s tiger economy, the Lion City boasts one of the world’s highest per capita Gross Domestic Product (GDP). The City State’s economic boom over the years is no accident – it is a result of meticulous ‘free-market’ economics and autocratic policies, […]

singapore's economic growth

The Secret to Singapore’s Economy Through the Years and Beyond: The Building Blocks to its Economic Success

The year of 2017 has been a year of suspense and drama in terms of economic fluctuations for Singapore’s economy. The previous year witnessed the economy still reeling from the cusp of recession, predicted to have an uncertain and mute economic mood beginning its first quarter. Nevertheless, the economy still surpassed expectations as it attained […]

The Impact of Potential Goods and Services Tax (GST) Hike on Businesses in Singapore

Singapore’s taxation policy is anchored on the philosophy that the operational costs of running the government are borne by its citizens, who, in turn, shall reap the benefits derived from governmental services. In line with this, Singapore strives to pursue a comprehensive policy on taxation as it levies taxes on as many individual taxpayers as […]