The Accela Finance team was thrilled to have The Xero Asia Roadshow 2024 land in our neck of the woods this year. The popular bookkeeping industry event made its debut in Kuala Lumpur, Malaysia, in September. Naturally, we jumped at the chance to attend! 

The Roadshow offers business owners, accountants, and bookkeepers a chance to connect with industry experts, exchange valuable insights, and discover new ways to harness Xero’s tools for business growth. Although the event happens annually, this was the first time the spotlight turned to Asia—a testament to the growing importance of this region in the Xero ecosystem.

In 2020, Singapore’s Ministry of Manpower recognised this challenge. It launched the HR Industry Transformation Plan - a five-year initiative to equip HR practitioners with the skills needed in the digital business landscape.

While it's heartening to have government support, HR teams must look closer at themselves. This involves identifying what needs to be fixed and recognising untapped opportunities to elevate their function and the broader workforce.

As we wrap up 2023 and look ahead to 2024, there's an essential task on the horizon for businesses on a calendar-based fiscal year— the annual audit. Sure, planning the office holiday party is much more fun, but making the time for audit preparation is crucial. It sets the stage for a smoother 2024, allowing you to return from your break ready to tackle the year ahead.

In this guide, we'll break down the annual audit, explaining why it matters and how it can benefit businesses, especially those just starting out.

This month, we were privileged to sit down with BCW Group’s Co-founder, Managing Partner and Head of Group Development, Kyle Baron, to understand how his company’s move to Singapore is advancing his vision to create a frictionless digital future for SMEs in Asia.

If you’re an entrepreneur considering a move to the Lion City, read on to learn how Kyle made the leap.

What truly sets Singapore apart is its tax framework. It offers reduced corporate income tax rates, start-up tax exemptions, and double tax deductions for foreign companies. Plus, Singapore has a multitude of free trade agreements with countries worldwide, making it a lucrative choice for entrepreneurs.

So, how can you take advantage of Singapore’s strategic business benefits without relocating there? The answer lies in choosing the right partner. Our Accela Finance and Corporate Secretary teams explain.

With the first phase of the GST increase behind us, the impact on businesses and consumers is evident. Some companies absorbed the cost and used the increase as a marketing opportunity to demonstrate customer loyalty. Others quietly made price adjustments with customers aware of the upcoming change.

Now that we have passed the first phase, it is time to start preparing for the second, aiming for the smoothest transition possible.

Singapore offers incredible advantages for those keen to launch a business thanks to a favourable commercial environment and strategic location.

But to make the most of them, you need to understand Singapore's tax incentives.

Here are five tax incentives that draw investors and entrepreneurs each year:

Filing your IRAS corporate income tax returns might seem like a daunting task, especially if you have recently launched a business or contemplating starting one in Singapore. The pressure of meeting submission deadlines can be overwhelming, potentially casting a cloud over your business's reputation and financial stability.

However, with a well-thought-out strategy, this compliance journey can be both manageable and enlightening.

With almost a decade of experience providing professional services to new and growing businesses in Singapore, Accela Group is at the forefront of empowering Singapore’s entrepreneurs to capitalise on these trends.

Here are three key trends reshaping the current economy and ways to make them work for your business.

Earlier this month, Accela Talent shared insights on the transformative power of AI in Executive Search. However, the impact of AI extends beyond that, as it continues to reshape the competitive landscape for businesses across industries.

Particularly for small and medium enterprises (SMEs), AI presents an opportunity to gain new capabilities, enabling unprecedented scalability and growth. While the need for regulatory controls and safeguards is recognised, staying informed about the latest AI developments is crucial for businesses to remain competitive and profitable in today's digital age.