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Top 5 Investments Business Owners Should Make

When you run a business, whether it’s a small start-up or a large corporation, you need to be confident in where you invest all company profits. Pumping a lot of the money back into the business is the place to start in order to help it grow and remain profitable. Yet there are many other areas in which you can invest as a business owner that will provide dividends to gain further profits for strengthening the firm. Here are five of the best investments for business owners to make.

Penny Stocks

Especially for start-ups, new and small businesses, penny stocks are a great place to start for any business owner making their first investments. These are companies that trade with exceptionally low share prices (usually £3 or less), which means a lot of shares can be invested in with a low amount of capital. They are a highly volatile investment but do make a great starting place for learning the basics of investing.

Forex

If you want to find a reputable way of making some extra money for your business by investing profits, then forex trading with Fx Pro is a good option. There are a number of safe currencies to invest in during times of uncertainty, or more risky choices if you’re feeling brave. For beginners or experts, it offers a good way to boost profits across international currency markets.

Equity

Buying an ownership stake or equity investment in another company can provide additional capital for your firm. Obviously, it is highly inadvisable to invest in any competitors. Finding a successful company or one that is on the rise to take an ownership stake can result in good percentage profits for your business, as long as it doesn’t perform poorly or go bankrupt.

Property

Real estate is a great way to enter an entirely new market and with house and rent prices still rising, it can be incredibly lucrative. It may be better to invest in commercial property, related more to your business though, such as buying your office rather than renting if you have the profits. This provides a useful asset and one that will hopefully grow in value.

Bonds and Mutual Funds

For long term, safe investments bonds and mutual funds are the go-to option. Government bonds are some of the safest investment options out there, while mutual funds can be found that have low risk attached to them. They provide a good place to learn about market trends without the risk of losing big in one go.

Consider these five investments if you’re a business owner looking to put your profits in a worthwhile place.

Guide on Opening a Small Business in Singapore

Singapore has many aces down its sleeve as a business location in Asia and investors are turning their attention to this tropical global financial center. Getting started in Singapore does not mean that your new business needs to be a large corporation with many employees. You can open a small business in Singapore and enjoy all that the city has to offer in terms of business location, trading environment, and a diverse economy.

We are looking at the most important aspects to consider when starting a small company in Singapore and the taxation and incorporation must-do’s for first-time investors.

Starting a business in Singapore is easy

Singapore has a strategic location in Asia and many international companies operate their business from here. The World Bank ranked the city as one of the easiest places to do business in the world, an attribute that comes naturally to Singapore since the company incorporation requirements are very straightforward and investors are not burdened by overwhelming formalities.

The process of setting up a company in Singapore includes the following steps:

picking the right type of company and choosing the right name;
filing the company’s documents with the Accounting and Corporate Regulatory Authority of Singapore;
choosing your business location and hiring employees.

Small businesses in Singapore can take the form of a sole proprietorship, partnership or private limited liability company. Taxation requirements apply to all types of companies. Small businesses will need to pay the corporate income tax but a partial exemption applies for the first SGD 300,000 of chargeable income.

Asia is a market with many business opportunities for foreign investors. Top locations include Singapore but also Hong Kong. If you would like to know how to start a company in Hong Kong and how this is different from the process in Singapore, you can talk to a company formation expert. In case you would like to expand your business in Thailand and need to obtain a Thai long stay visa it is advisable to contact a team of local lawyers.

Small business ideas in Singapore

Singapore does not disappoint in terms of business and investment opportunities. The city has a diverse economy and skilled entrepreneurs will find it very easy to start their own business and quickly form their own client lists.

Some ideas for small businesses include event planning, food services (a fast food or even home-based bakeries), independent accountant or translator or business consultant for those who have already acquired experience and are ready to coach on others. Small companies in Singapore can provide a myriad of necessary services for day-to-day life. You could consider opening a company offering plumbing services in Singapore or opening a company that offers cleaning services, a laundry business or dry cleaners.

Starting a new business is a big step. Having the right business environment to set up a new company, in a city like Singapore, is just as important as the entrepreneurial drive itself. Young entrepreneurs and those who are just starting their small business can find out more about starting a business in Singapore by talking to a company incorporation expert.

DBS/POSB introduces easier ways to deposit “LI CHUN” funds

Customers can deposit funds during lucky timings via DBS PayLah! or avail themselves to over 350 DBS/POSB cash deposit machines islandwide

SINGAPORE, 1 February 2017 – On 3 February this year, also known as “Li Chun” on the Chinese calendar, Singaporeans will be able to make deposits to their bank accounts while on the go via their DBS PayLah! mobile wallets. Available to users from all Singapore banks, DBS PayLah! users can skip having to bank in cash physically on “Li Chun” and simply make electronic money deposits during their “lucky timings”.

Depositing on “Li Chun” with DBS PayLah!

Over the last few years, Singaporeans have taken to the practice of making cash deposits to their bank accounts on “Li Chun”. According to a guide put up by fengshui firm Chang Consultancy, different timings are advised for people to bank in money on 3 February based on their Chinese zodiac sign. This year DBS PayLah! users stand to win SGD 88 when they send an eAng Bao during this Chinese New Year, and double their chances when they deposit money into their bank account from their PayLah! wallet on “Li Chun” day. The draw is open to 100 lucky winners. New users also get SGD 5 when they download DBS PayLah! with the promo code ‘PAYLAHCNY’. For more details, please visit www.dbs.com.sg/personal/promotion/paylah-cny.

Mr. Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, said, “We’ve been very encouraged by how quickly customers have come to embrace our alternative and digital channels for the Chinese New Year. Last year, customers were quick to take advantage of the convenience provided by DBS PayLah! during Li Chun, with the number of account deposit transactions spiking a whopping 47 times on that day. We also understand that this is the time when parents and younger customers start to deposit cash from their red packets. With this in mind, we have converted some of our popular new notes pop-up ATMs so they have now cash deposit functions, alongside our network of some 350 cash deposit machines. Our aim is to provide customers with more innovative and convenient options to help meet their banking needs during this festive season.”

POSB new notes pop-up ATMs converted to accept cash

Eight POSB new notes pop-up machines will also be converted to accept and dispense cash, and will be available for use in time for “Li Chun”. These eight machines will be located at eight community clubs – Toa Payoh West, Toa Payoh Central, Bedok, Yew Tee, Chong Pang, Henderson, Clementi and Jurong Spring. The machines in Toa Payoh West and Chong Pang will open from 9am to 10pm daily while the remaining machines in other locations will be fully operational round-the-clock – a key benefit to customers who wish to deposit their Chinese New Year funds. Customers can also avail themselves to over 350 DBS/POSB machines with cash depositing functions islandwide. To find out where these machines are located, please visit www.dbs.com.sg/index/locator.page.

Sending eAng Baos with DBS PayLah!

DBS was the first in Singapore to introduce eAng Baos via DBS PayLah! in 2015 and it was quickly adopted by users for the Chinese New Year season. The eAng Bao provides customers with a digital alternative that allows them to carry on the tradition of red packet-giving with their families and friends even if they’re apart. Last year, during the Chinese New Year season, some 20% of DBS PayLah! money sending transactions were in the form of eAng Baos. More eAng Baos are also used – up to 3.5 times as much – during festive seasons. The number of eAng Bao transactions last year also grew by 30% compared to 2015.

POSB new notes pop-up ATMs return to massive demand in 2017

This year, the POSB new notes pop-up ATMs saw a record number of transactions flow through averaging more than 22,000 transactions a day, some 67% higher than last year, and more than double than in 2015. Since its debut in 2015, the POSB new notes pop-up ATMs continue to see large increases in demand. The ATMs served more than 138,000 customers this year, 61% higher than last year. Total withdrawn amounts increased 80% this year with over 14 million in new notes issued, compared to 8.6 million for last year, and 6 million in 2015.

6 Bulletproof Saving Hacks For Millennial Singaporeans

As a Millennial Singaporean, it is easy to be tempted to travel and to socialize (talk about #YOLO or #NOFOMO). You just want to make the most out of your youth. Enjoying the wonders of the present and preparing for financial freedom is a difficult job!

Hopefully, these saving hacks below will enable you to make the right monetary decisions and live a prosperous 2017.

MAXIMIZE YOUR CASHBACK

In this day and age, almost every purchase qualifies for a cashback or rebate. Do you need a new dress for work? Or, do you need to expand your health coverage? See if you can get a little cash back!

Try to make the most out of your credit card rebates to save a decent amount of money for emergencies.

AVOID THE EMOTIONAL SPENDING

Studies (like this) have shown that Millennials are prone to spending based on their emotional states. The four common emotions that lead you to overspend are hunger, anger, loneliness, and tiredness. These emotions may lead to purchasing something that you do not need or want.

Avoid experiencing “buyer’s remorse” by increasing your awareness while you shop.

SPOT THE BEST DEALS

As Millennials, we spend countless of hours online. Use its potency for the greater good by searching for the best deals, promo codes, coupons, and vouchers islandwide. Keep a close eye on the local websites such as Flipit.com Singapore, Groupon, and Money Digest.

Image Credits: pixabay.com

MAXIMIZE YOUR RESOURCES

As a young adult, you may feel the urge to keep up with the latest trends on fashion and technology. Who can blame you? Purchasing new clothes and devices can boost one’s confidence. However, your spending habits may take a toll on your finances. Choose to be practical instead!

Account your resources to know which areas you can cut cost. Ditch your underused cable television and switch to a Netflix or Toggle account on your laptop. You may also refrain from purchasing new shoes by revamping your simple shoes with laces and ribbons.

DO NOT TURN A BLIND EYE

Being in your 20’s does not guarantee that you are immune to financial woes. Red flags, such as outstanding bill notices, are there for a reason. Make it a habit to account how much money goes in and out.

Use money-tracking tools to aid you in this process!

USE THE POWER OF TECHNOLOGY

Most millennials are innately tech-savvy. Use the power of technology to boost your knowledge on investments, financial services, and personal finance. Appreciate how lucky we are to have the luxury of accessing information right at our fingertips!

Image Credits: pixabay.com

You may also seek guidance and support from the experienced financial advisers by interacting with them thru social media.

Sources: 1 & 2

5 Reasons to Create a Will in Singapore

While there has been an increase in the number of younger people making wills in Singapore [1], there still seems to be a lingering taboo over the creation of something Singaporeans perceive to be morbid.

Unfortunately, as the saying goes, nothing is sure in life except death and taxes, and we all need to realize this fact and plan ahead for the future.

Generally, it tends to be a good idea for anyone to create a will. However, it’s even more important in certain situations, such as when you’re married with children, a single parent or blessed with multiple valuable assets.

So without further ado, here are 5 reasons why you should create your Singapore will.

1) To determine who receives your assets.

Generally, if you’re a Non-muslim in Singapore, and wish to distribute your estate in accordance with your wishes, you will have to create a will. If you don’t do so, your estate will be distributed according to the Intestate Succession Act, and this may unfortunately go against your true wishes.

2) To make things easier for your family.

Creating a will helps establish who will take care of the relevant arrangements after you pass on and prevents unnecessary delay and grief during a painful period of time. When you create a will, a person you choose called the executor will apply for the grant of probate and handle the necessary arrangements, which helps minimize any confusion over which member of your family will have to settle your estate after you pass on.

3) To arrange for funeral arrangements and costs.

You may have preferences as to where you wish your funeral to be held, the type of casket and picture you wish to be used, whether you wish to be buried in Choa Chu Kang or cremated, and how you wish for these expenses to be covered. Providing for this in your will can help save your family additional stress from trying to figure out what your preferences would be.

4) Prices are not high.

Many Singaporeans put off having a will written because they’re put off by high prices. However, prices for the drafting of wills in Singapore have fallen throughout the years. Competition between wills-drafting providers and lawyers have made it such that you can have a will drafted for a fraction of the price as you would have paid just a few short years ago.

5) To provide for charitable causes.

Altruism is another reason to draft a will in Singapore. You may be passionate about certain causes and wish to set aside a portion of your wealth for charitable organizations you wish to support. This is a fantastic way to give back to the community and to ensure a portion of your funds is used for a good cause.

Author Profile:

Shen is a writer for Singapore Probate, a website where Singaporeans can learn more about estate-planning matters in Singapore.

[1] http://www.channelnewsasia.com/news/singapore/increase-in-number-of/2184796.html

POSB new notes pop-up ATMs return to massive demand in 2017

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