Entrepreneurship

Sit Tight, Buckle Up For A Rough Ride Ahead!

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SINGAPORE economy is feeling the heat of the current slowdown in global economy.

The latest COE is seeing a record drop of nearly $10k, showing signs that buyers have lesser “free cash” to bid for COEs.

Many companies’ revenue numbers are beginning to see a decline, with resulting Profits fast dwindling.

For business owners out there, watch your Costs and Cash carefully. Be Prudence in all spending, convert your Fixed Costs into Variable Costs if possible – like Outsourcing your Accounts and Payroll functions when you have the chance when your full time accountants and / or HR personnel resign, for Outsourcing Costs are only a fraction of your full time payroll costs!

For those in Employment Currently, plan ahead to be your own boss one day to manage your own destiny. Believe in yourself, a door will be opened for you soon. Start enquiring around for a reliable Corporate Services firm to handle your company formation and statutory compliance matters latter. Start do up a Business Plan soonest to quantify your own business growth numbers so as to know how to chart out an Action Plan in phases with timelines and Persons In-Charge to complete them.

We have to change constantly to survive. The only thing that does not change is “Change”.

Do not be like the frog being boiled alive in the pot!

If you need help, feel free to contact us at :

(M) +65 90880669

(E) [email protected]

www.corporatebackoffice.com.sg

Written by Kelvin Loh