How to start a consulting business in Singapore

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How to start a consulting business in Singapore?
Bestar Services Pte. Ltd
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How to start a consulting business in Singapore?

• It is a costly affair when you want to hire a
  consultant. Businesses hire consultants and
  consulting agencies for very specific reasons.
  Why do we need a consultant? a consultant that
  has specific knowledge of their domain and its
  services. If you have a consulting business you
  sell the knowledge about your domain or niche.
• For instance, if offering consultation for a
  business is your preferred domain of working then
  strategic consulting is something that you should
  focus on. You can develop various strategies for
  various clients on

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How to start a consulting business in Singapore?

• Revenue generation
• Global expansion
• Mergers and acquisitions, and more.
• Essentially, you advise your clients about the
  next best step they can take to reach their
  goals. The niche you focus on defines the type
  of consulting you can provide. If you choose
  management consultation you would apply
  strategies to improve business operations and
  supply chain management.

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How to start a consulting business in Singapore?

• As a result of these strategies, the
  organizational structure of the company may
  change significantly. One would ask why do we
  need consultation business? The answer is a
  fresh perspective of an outsider may not be there
  with the inside team. This is the reason why a
  consulting business is a thriving business.

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What is a consulting business?

• As we saw previously a consultant provides his
  expertise to clients who require these services.
  Consultants are able to work on a huge range of
  domains like marketing, business, law, Finance,
  management, etc. If you are in Singapore planning
  to start a consulting business, then give a deep
  thought on the domain you want to work in.
• A businessman goes to a consultant in a situation
  where they are unable to solve a problem by
  themselves. A consultant runs deep research
  before thinking about a solution to a problem.
  The research could be qualitative or
  quantitative, which depends on the kind of
  problem the consultant faces.

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What is a consulting business?

• After research, the consultant defines a
  well-planned strategy to tackle and prevent the
  problem from happening in the future. This is
  where domains fall differently. Every business is
  different therefore, every strategy is
  different.
• Additionally, consultation services also change.
  Some consultants may just devise a solution,
  while others are concerned with the solution
  implementation. Some consultants offer both
  solutions and their implementation. While
  starting the business out, it is better to take
  things you can deal with.

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What is a consulting business?

• Taking more than you can chew can land you in
  trouble of not being able to keep it up with the
  clients requirements. Once you start picking up
  some traction in the business, you can expand
  your services and offerings.

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The process of business registration

• Firstly, it is important to decide the domain you
  want to work on before the Singapore company
  registration can happen. In Singapore, FinTech is
  the best domain to work with. Once you define the
  domain of your consultancy, you can take the next
  step. This is where company incorporation is
  required.
• As per the laws in Singapore, you have to
  officially register your business with ACRA. ACRA
  stands for Accounting and Corporate Regulatory
  Authority of Singapore. You have to keep the
  necessary documents ready. We have 3E Account
  experts who can help you with this documentation.

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The process of business registration

• You can file and register the documents with
  BizFile, ACRAs website. This way the process
  becomes simplified. You have to enlist all the
  details of the shareholders and directors of the
  company. If you are a foreign entrepreneur, you
  need to provide a copy of your passport and
  residence proof.
• As you receive the incorporation certificate, you
  will have to get a GST (Goods and Services Tax)
  registration. You also have to plan the finances
  to begin your business successfully. It is
  important to have enough financial stability so
  that you can sustain your business up to 12
  months without a profit.

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The process of business registration

• Your business also needs funding until it is in a
  very early-stage. With our incorporation experts,
  you will be guided at every step of the process.

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License and the Permits

• Depending on the domain you choose, you will have
  to see which licenses and permits you will need.
  For instance, if you want to get into the finance
  industry, you need a permit from Singapore
  Chartered Accountants. We are an industry leader
  as a corporate service provider in Singapore. We
  are the right choice for you.
• The process is pretty simple if you have all the
  paperwork and documentation ready with you. We
  are a company incorporation services provider and
  a popular name in the industry. Trust us with all
  your procedures.

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