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.

Singapore has long attracted many foreign workers, entrepreneurs, and investors. Top-quality infrastructure, access to international markets, and open trade policies are just some of the reasons why international professionals are keen to invest in Singapore’s vibrant business landscape.

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.

The so-called ‘September Surge’ has generated a lot of buzz in recent months - five billion views on TikTok, to be exact. As a result, jobseekers have been preparing for a dynamic job market, with organisations ramping up their hiring at unprecedented rates. The concept is seen as a saving grace by job seekers and recruiters alike, who have been stifled by reduced headcounts and a passive job market over the last few years.

But here’s the twist – does the September Surge even exist? Some experts debate whether it’s real, emphasising that there are other times of the year to pay just as much attention to.

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:

A remarkable trend has been shaping the business landscape in recent years, propelling businesses that prioritise simplifying daily tasks and enriching leisure time.

This movement, aptly named the "lazy economy," is rapidly gaining traction, creating countless on-demand at-home service platforms and last-mile delivery startups.

The modern world has disrupted the notion of a stable and predictable career path. Technological advancements, political instability and the pandemic have given way to a volatile and ambiguous job market felt by individuals, companies, and economies globally.

So, how is Singapore tackling the fluctuating job market? The answer lies in a simple yet highly effective solution: ‘second skilling’.