When you establish your business, you need to hire competitive people; this is the key to owning a successful business. This way, you can rest assured that your business is in good hands. Hiring a good staff is important for all types and size of businesses; you need to appoint the best people, especially on the company’s key positions, whether you are running a small to mid-sized enterprise or a large company.
Company secretary is one of the most important positions in your company. For businesses in Singapore, the law requires you to fill this post with the most qualified candidate; this will ensure that your administrative and legal procedures are handled on time.
Why Does Your Company Need a Secretary?
Under the Singapore Companies Act, every business is required to have a company secretary. Appointing a secretary comes as a prerequisite of establishing your business in Singapore. You need to find a suitable person and fill this post within 6 months of your business’s inauguration if you wish to avoid legal consequences.
Thus, it should be your biggest priority to follow legal requirements for the incorporation of your business in Singapore; this acts as the first step towards a successful business. The best thing to do in this regard is to go for corporate secretarial services.
Benefits of Investing in Corporate Secretarial Services
You must be wondering whether it is important to invest in corporate secretarial services. By now, you must have an idea regarding the crucial position of a company’s secretary and why you need to fill this post as soon as possible. If you are new in business, you will have no prior experience of hiring people. With the help of corporate secretarial services, you end up with a person who fits this position the best and also knows how to fulfill his roles and responsibilities.
Other than this, you can get several benefits by investing in corporate secretarial services. Here are the most significant ones:
Proper Handling of Administrative and Regulatory Requirements
With the help of corporate secretarial services, you can ensure the proper handling of your business’s administrative and regulatory requirements. Strictly adhering to business regulations is important in Singapore. Due to the strict mechanism and laws for SMEs, businesses need to get done with taxation, IR8A payroll, GST & Acra filing, bookkeeping, and other such things timely; otherwise, your business might have to face legal risks. Being a newly established business, you do not want to deal with any legal issues.
As a company’s secretary oversees these activities, secretarial services can assist you in getting done with these easily and efficiently. They can offer you the best personnel so that you do not have to face legal penalties for late or inaccurate reporting and document submission.
Ease and Efficiency
Corporate secretarial services have great experience and expertise in handling administrative requirements. You can relax knowing that you have right people to get the job done. When it comes to a new business, there are hundreds of things you need to take care of. As a director or a shareholder, you can leave the secretarial job to a secretarial service in Singapore.
This saves you from any sort of hassle and lets you focus on other important aspects of business. The process of hiring a secretary and dealing with secretarial duties is not something you need to worry about anymore.
Reliability and Improved Business Operations
Another great benefit of investing in corporate secretarial services is that you can depend on them no matter what your administrative requirements are. Being experts, they know to handle the tasks timely.
Reliability leads to improvements in your business’s operations. As secretarial services deal with almost all your company’s data, they are in a good position to give a healthy feedback. Some of the secretarial services even go an extra mile to provide unique solutions to specific problems your business might be facing.
Hence, not only do you get reliable business operations, but you also get personalized solutions for any issues.
Hiring a full-time in-house secretary can turn out to be burden for your business – this especially holds well in the case of SMEs. As these businesses are low on budget and profit, paying such a high salary to a secretary is almost impossible.
Utilizing corporate secretarial services ensures that you do not need to spend high costs on the training and resources of a secretary. There are several affordable accounting firms in Singapore that offer cost-effective secretarial services; this allows you to save up on larger costs which you can use to grow your business instead.
Additional Financial Services
Professional service providers and firms in Singapore do not only offer secretarial services, but their offerings often come as a complete package. It includes additional services that do not mainly come under administrative regulations but are a part of financial services that your business might require now or then.
Some common services include payroll, company incorporation, accounting, and audit. Engaging in secretarial services lets you take advantage of these services in a budget. As a startup, your business can get huge assistance as well as learn from such experiences. It helps you expand your business timely and in the right direction.
The benefits of investing in corporate secretarial services are enormous, especially if you are an SME. You can take advantage of their expertise and get done with administrative and legal regulations in a timely manner; this adds to the productivity and reputation of your business in the industry.
However, make sure that you invest in the best local corporate secretarial services in Singapore.