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Covid-19 will no longer phase Singapore

Source: The Straits Times 2021

Quarantine-free travel is now available to travellers due to the Vaccinated Travel Lanes (VTL). Currently, 11 countries are under the VTL scheme and many people welcomed the idea of Singapore opening its borders, proving that Singapore is starting to strive towards normality.

Revised WFH rules being implemented

Source: The Straits Times 2021

Changes were made to the previous WFH protocol. These changes will ensure that there will be less disruption in the office should there be any Covid-19 cases amongst the employees. This change will only be implemented if three or more employees were to test positive for Covid-19 within a period of seven days.

New Network for Female Entrepreneurs

Source: The Straits Times 2021

Business will be easier for women in Singapore with the new network called the Singapore Women Entrepreneurs Network (SG-WEN). This network will enable female entrepreneurs to connect with other business leaders, trade associations in the region as well as one another. This is a huge achievement for female entrepreneurs as they usually have a smaller network as compared to male entrepreneurs.

Source: The Straits Times 2021

Thinking of starting your own company?

Singapore came in joint fourth in the world for how fast its start-ups turned into unicorns, according to a global ranking by British price comparison website Money.co.uk. The top-performing sector when it comes to time taken to reach a US$1 billion valuation was auto and transportation, whose 31 unicorns took an average of four years and five months.

Source: The Straits Times 2021

The tech industry have been noticing a boom, demonstrating the resilience of the start-up ecosystem in Singapore despite the challenges of the Covid-19 pandemic, said Enterprise Singapore (ESG) chairman. ESG’s Startup SG Founder venture building programmes have trained over 680 aspiring entrepreneurs since its launch in August last year. About half of the participants are mid-career professionals, managers, executives and technicians (PMETs) who were unemployed, he said.

 
 

Source: The Straits Times 2021

With brighter forecast, An initiative has arise, encouraging firms and government agencies to join forces to develop innovative solutions to specific problems and market needs is already reaping benefits for local companies.

With the government continuously supporting firms and start-up to innovate, Singapore’s start-up industry is looking ahead to a bright future!

Source: The Straights Times 2021

With higher rates vaccinations and borders slowly re-opening, Singapore expects its economy to grow at a faster pace than previously predicted as vaccinations gain pace, allowing for more economic activity and boosting demand for goods and services at home and in some of its key markets abroad.

Source: The Straights Times 2021

The aviation sector has been badly hit by the pandemic. But recently. But good news is, many are back in their uniforms offers some hope things are slowly but surely recovering. 

SIA Group is expected to reach about 33 per cent of its pre-Covid-19 passenger capacity by the end of this month, up from 28 per cent last month. 

We are hopeful for things to be back to where it was pre-covid days.

Source: The Straights Times 2021

As reported, a total of 25 promising technology start-ups have benefited from fund-raising support from the Economic Development Board (EDB) and Enterprise Singapore’s (ESG) venture arms, helping high-potential start-ups to help sustain their growth, especially those facing cash flow or fund-raising difficulties.

Source: The Straights Times 2021

We are generally keen to search out a lawyer and trust that he or she will do a good job in terms of finance, but the same faith is not put in financial advisers. 

Financial Advisers are the experts in this field, be it family or corporate terms.

 

Source: The Straights Times 2021

Amidst the Covid-19 pandemic, many are beginning to set up a part-time business, or start side-hustle, especially amid the disruption and uncertainty.

Many believe starting a business in this uncertainty might reduce investors’ confidence, but many still found themselves turning their passion into business. Learn more with this article.

Source: The Business Times

DBS on Monday received the official green light for its majority-owned securities joint venture (JV) in China, with the attainment of its securities business license from the China Securities Regulatory Commission (CSRC).

Meanwhile, China has remained committed to opening up its US$45 trillion financial markets even in the midst of a global health crisis, with steps taken since last year in giving foreign financial firms more access to the world’s second-largest economy.

Source: The Business Times 2021

Convened by MAS, a guide was launched for climate-related disclosures and a framework for green trade finance. This has benefitted many banks to better support industrial working capital needs, such as Musim Mas Group. These banks have piloted four transactions for renewable energy, recycling, agriculture and farming activities, to support businesses in greening their supply chains.

Source: aninews.in

The initial indirect tax benefits will be negatively impacted. However, Wong reassured that “the new rules should not inadvertently weaken the incentives for businesses to invest and innovate”

Source: CNA 2021

Finance Minister Lawrence Wong reassures that Singapore will continue to ensure that its tax system is “compatible with international norms while managing the administrative and compliance burden on businesses”, with global corporation tax rate of at least 15%, and will implement  measures to ensure taxes were paid in countries where businesses operate.

Source: BestinSingapore 2021

Being one of the most popular websites, we recently ranked #1 in their page “The 37 Options for the Best Accounting Services in Singapore”.

Source: The Straights Times 2020

The Tech Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. 

The aim of this launch is to bring in capital, network, know-how to our country’s tech ecosystem and most importantly, create opportunities for locals. This pass will act like a driving force to strengthen our position as a leading tech hub for the region, establishing a great deal of tech talent in Singapore. This furthers drives to reach Singapore’s expectations to reach US$22 billion (S$29.7 billion) by 2025.

Source: The Straights Times 2021

In light of the pandemic, everything has changed. Will Singapore ever be the same again? 

Here are some suggestion by Rei in hope for faster recovery:

1. Seize global opportunities for digitalisation

2. Go big on sustainability and tap on growth opportunities

3. Build on fundamentals by growing a strong Singapore core

4. Institutionalise private-public patnerships

5. Strengthen international partnerships, especially SouthEast Asia.