Incorporating any reputable business of a sizable nature is no easy task – there is a lot to be done towards ensuring that the business is firmly set up and abides by all relevant company laws and statutes.
Despite that being the case, many businesses are often still not aware of all that it takes to start off their business in the right manner. Even if they know the factors that are required – some may not have the capability, such as the financial ability to set up a business or even grow it.
Here is where company incorporation services come into the picture to help establish a business.
Years of experience
The first thing you’ll notice about typical accounting firms is the sheer amount of experience – possibly even up to decades that they possess. Hence, it demonstrates their clear ability to help build a business up from scratch.
Those looking to start a business can comfortably rely on these accounting firms, knowing that the entire set up process will be completed thoroughly and accurately – such as registration of a company, acquiring funds for business operations, and receiving reliable assistance.
Understanding of business requirements
Starting a small business enterprise, medium-sized organisation or even a multinational corporation is no easy feat. There is an entire list of tasks to be performed with complete accuracy – with no room for error.
As a new business, one will naturally not be aware of what tasks they are required to perform – let alone understand how to excel in it. As such, it’s best for an accounting firm to lend a helping hand as they understand what is needed in order for a company to be incorporated successfully.
Proper bookkeeping
In case of running businesses which have otherwise not been established yet, accounts do play an important role. For instance, assertions made about the following:
- Paid-up share capital
- Partnership ratios
- Business profits (or losses) to date
- Balance sheets
- Income statements
These are all verified and confirmed with the help of accounts. In this process, assistance from an accounting services company does contribute hugely since it is able to thoroughly assess all financial records. In doing so, it is in turn in a position to validate these records to be accurate (or not) which paves the way for successful company incorporation.
Provide legal funds
Many companies being incorporated are startups. Besides being set up formally as business enterprises, more often than not, these entities are eagerly on the lookout for funding which can help them grow into a reputable company in the future.
However, funds acquired have to be from a legal source – such as local banks, for instance. The reason being that a thorough inspection of the firm’s books is done to ensure that the business is not using any illegal methods to get hold of cash. This is when an accounting services company provides licensed and reliable financial support so that no such issues will be encountered.
When it comes to incorporating a business – accounting and other important factors are instrumental in starting a business. Hence, it explains the need for a trustable and competent accounting firm to help ensure all requisite processes are being followed thoroughly. If you require any assistance on accounting services in Singapore, feel free to drop us an email at johnwoo@ag-singapore.com or contact us at +65-66358767. At Ackenting Group, we offer a free 30 minutes online consultation for us to understand your business requirements better.
