An Overview Of The Long Term Visit Pass In Singapore
Family members of eligible employment pass or S-pass holders may apply for the long term visit pass (LTVP) so that they can live and stay in Singapore.
Who are eligible for LTVP?
Common-law spouse, stepchild, or handicapped child of eligible employment pass (EP) or S-pass holders. The EP or S-pass holder must earn a salary of at least S$6,000 a month in order to qualify, and an established Singapore registered company must be willing to sponsor the EP or S-pass holder. The EP or S-pass holder may apply for their parents as well if he or she is earning a monthly salary of at least S$12,000.
What is the duration of the long term visit pass?
Up to two years, tied to the maximum validity period of the main work pass.
Is it renewable?
Yes. Up to six months before the LTVP expires, you can apply for renewal.
Can LTVP holders work in Singapore?
No. You need to get a job offer first, and then apply for a work pass before you are allowed to work.
How do I apply for LTVP?
An appointed Singapore licensed employment agent or employer has to apply on behalf of the candidate. If you would like to find out more about applying for an LTVP, get in touch with us today!
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外国人在新加坡成立新公司流程解说
新加坡是在亚洲一个非常开放的经济体。新加坡政府也非常积极的欢迎外国企业到本地来开创业务。由此可见，外国人预想到新加坡开启新公司是件相对简单的事。
以下让我为大家简单的介绍流程：
设立公司所需人物条件
在新加坡，外国人是可以持有公司100%的控股权的。需要至少一个股东 （shareholder）。这股东可以是自然人或是公司。
有了股东，接下来公司必须列定董事 (director)。公司需要至少一个董事。股东和董事可以是同一个人。注意，新加坡公司法律规定公司里面必须要有一名本地董事。就是说如果您身为一个外国人要在新加坡成立公司，必须聘请一位本地人做董事。在很多情况下，如果没有认识的本地人，可以考虑聘用挂名董事。
再者公司里面也需要指定一个公司秘书。公司秘书主要负责法律规定的行政和报告职能。如果公司只有一名董事，则他不能担任公司秘书。但是，如果公司有一位以上的董事，则其中一位董事也可以担任公司秘书。
设立公司所需经济条件
在新加坡成立私人有限公司的实收资本可以低于新币1元，无上限。如果当事人真有意向认真在新加坡经营业务，我不建议只用1元为实收资本。因为这些公司资料都可以清楚被乙方查阅到。
在新加坡成立新公司的费用也不是很高。从一个纯外国人的角度来说，需要准备的费用为以下：
- 公司成立费 （一次性）– 注册公司名称以及提交给政府的启用费
- 公司秘书费 （每年）– 根据法律所需，指派一个公司秘书负责行政和报告职能以及提交公司年度省和报告。
- 挂名董事费 （每年）- 法律所需。一般上挂名董事没有执行权。必要时可以帮助处理公司运营事件如在新加坡开银行账户。
- 本地地址（每年）- 每一个新加坡公司必须拥有一个新加坡地址。如果没有在新加坡设立办公室，可以借用其公司秘书所提供的地址。这也是公司秘书收放贵公司所有重要文件的地方。
如果想进一步了解我们所提供的服务与收费，请查阅我们的官方网。
开启公司银行账户
当贵公司成立后，我们也可以协助申请开启公司银行账户。纯外国人持有的新加坡公司开启银行账户过程一般上会需要经过比较多的审核，但是我们也已经顺利为许多客户成功的办理了开户。
申请新加坡工作准证
公司启动后可以开始聘请员工来运营业务。你可以无限制的聘用新加坡公民或新加坡永久居民。如果要聘用外国籍人，就必须先为其员工申请工作准证。身为股东身份的你如果要在新加坡经营业务的话也必须先申请工作准证。
在新加坡的工作准证也有分类，根据职位的性质而定。要申请工作准证可以通过一家拥有执照的职业介绍所来办理。
在 SG Company Services Pte Ltd, 我们可以为您提供以上的一站式服务。有意者，欢迎前来与我们联系。
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Is It Better To Set Up A Private Limited Company or Limited Liability Partnership In Singapore?
Clients often asked me if they should set up a private limited company (Pte Ltd) or limited liability partnership (LLP) for their business. While I will not say 1 corporate structure is better than the other, a private limited company structure may fit better for most people. If you are undecided and seek to understand the differences between the two, let me break it down into the following points.
- Ease of Set-Up and Maintenance
- Scope of Liability
- Tax Rates
- Ownership Structure
Ease of Set-Up and Maintenance
You can set up both corporate structures with relative ease and low cost. You need to pay a set-up fee of $315 for a Pte Ltd company and $165 for an LLP.
Both corporate structures allow for 100% foreign ownership. For a limited liability partnership, you will still need to appoint a local manager if the entity is of entirely foreign ownership. Foreigners can also 100% wholly own a private limited company, the only requirement is that the company must have at least 1 local resident director.
You will require at least 2 partners to set up a limited liability partnership. For private limited companies, you require at least 1 secretary, shareholder and director.
In terms of annual compliance, the limited liability partnership must submit an annual declaration of solvency or insolvency to the authorities. On the other hand, there is more work when it comes to a private limited company. There is a need to hold and file annual general meetings with ACRA, annual accounts and tax returns. For many companies, these task is outsourced to a competent corporate secretary and accounting firm in Singapore.
In terms of perpetuity, both corporate structures do not suffer from the demise or departure of any particular partner or shareholders. The business will be able to continue to function as usual.
Scope of Liability
Just as the term suggests, both the limited liability partnership and private limited company have limited exposure to business risk. This liability/risk exposure is according to the partners'/shareholders' investment in the entity. You will not compromise your personal assets from any adverse impact on your business.
Tax Rates
This is where you see major differences between limited liability partnerships and private limited companies. In a limited liability partnership, the partners partake in the profits of the business as per their partnership agreement. This profit is then taxed as personal income. In Singapore, the personal income tax rate is up to a cap of 22%. A private limited company will be subjected to a flat corporate tax rate of 17%. However, companies in Singapore get to enjoy many tax rebates which can significantly reduce the tax payable. You can then distribute this after-tax profit as dividends to the shareholders. Dividends in Singapore are generally non-taxable.
On another note, companies in Singapore are eligible for many government grants and initiatives. These grants help companies thrive and remain competitive. These grants range from helping companies adopt technology to improve their business workflow to reimbursing the hiring cost of workers. Limited liability partnerships may not get to enjoy such grants and benefits.
Ownership Structure And Scaling
Ownership structure will determine the ability to scale your business in the future and also the ease of selling off the business. As a company's equity is equivalent to the shares rather than an individual, you can transfer the rights and ownership of the company wholly or partially. Whereas for LLP, assets in the entity belong to the individual and he or she can transfer them privately to another individual. Depending on the partnership agreement, this transfer may also need approval from all the partners.
To fund future expansion, a company can easily issue extra equity or take on business financing. This means an easier means to getting external investor funding as well as credit line from banks. Partnerships are often only limited to the financial contributions of the involved partners.
Conclusion
Unless you have a specific need to run a partnership, e.g law firms, audit firms etc, you will be better off having a private limited company. Both entities offer you the veil of limited liability but having a company gives you a lot more financial advantages in terms of taxes, government grants and funding.
If you would still like to find out more, do feel free to connect with us!
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New Requirements for Singapore Employment Pass And S-Pass Starting From September 2020
Due to the impact of COVID-19 globally, the economic outlook is uncertain and the job market is weaker with the rising unemployment. As such, the Singapore Government has updated new requirements for foreigners applying for Employment Pass (EP) and S-pass. This is a move to encourage local employers here to place a bigger focus on keeping the local workforce and employment.
Below is the summary of changes taking place with effect from 1st September 2020.
Employment Pass
- The minimum salary requirement increases from S$3,900 to S$4,500 for new applicants.
- EP applicants minimum salary requirement for the financial services sector will increase to S$5,000 from 1st December 2020.
- These new salary criteria will come into effect from 1 May 2021 for all renewal applicants.
- For EP candidates in their 40s, the minimum qualifying salary will increase correspondingly. They will remain around double the youngest applicants.
S Pass
- The minimum qualifying salary for S Pass will increase to S$2,500 from S$2,400 moving forward from 1st October 2020.
- This requirement will take effect from 1 May 2021 for all renewal applicants.
- For older and more experienced S Pass candidates, their qualifying salaries will be revised accordingly.
In considering EP and S Pass applications, more emphasis will now be placed on whether the employer has (i) kept up the support of local Professionals, Managers, Executives and Technicians (PMETs) in their employment and (ii) tried taking up government efforts to help train and recruit more Singaporean PMETs. Employers will face certain punishments if they attempt to favour foreigners over equally qualified locals.
According to the fair consideration framework, employers must advertise the job vacancy to only locals for a minimum of 28 days. This requirement begins from 1st October 2020. They must prove that they have considered all qualified locals by documenting the selection process before hiring foreigners.
Singapore's aim to be an international hub remains the same and these changes reflect the current situation. Foreigners with strong credentials and valuable resources are still very welcome to Singapore.
If you have questions or need help applying for EP or S Pass, feel free to contact us.
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Tech@SG Programme
Tech@SG aims to help companies achieve faster growth by gaining access to the talents they need to scale their business in Singapore and regionally. This Programme is administered by Singapore Economic Development Board (EDB) and Enterprise Singapore.
Benefits
Company-level endorsement to the Ministry of Manpower (MOM) will be provided through the Tech@SG Programme for all eligible companies. This is to reduce the risks of rejections for their Employment Pass (EP) applications to MOM.
You can expect to receive the following if your company is eligible:
- Up to 10 new EPs over 2 years for foreign employees that you are hiring as part of your Singapore company's core team.
- First renewal coverage
Requirements for companies
Meeting all of the following requirements is a must to qualify for the Tech@SG Programme:
- Incorporate a business entity with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore
- Having a digital or technology product or service as your core business
This is inclusive of cases where the company's business model is built on proprietary hardware or software technologies, i.e. big data analytics, artificial intelligence (AI) and cybersecurity. Examples are:
- Software-as-a-service
- E-commerce
- Digital media
- Digital gaming
- Medtech
- Cleantech
- Fintech.
Businesses under the following categories will not be qualified for this Programme:
- Coffeeshops
- Hawker centres
- Food courts
- Bars
- Night clubs
- Karaoke lounges
- Foot reflexology
- Massage parlours
- Acupuncture
- Traditional Chinese medicine
- Herbal dispensing businesses
- Employment agencies
- Geomancy businesses
- Received funding (no minimum) in the past 36 months from a Programme-recognised investment firm
- Secured more than US$10 million (cumulative) in investment funding in the past 36 months
For companies having lesser than 30% local shareholding, applications should be submitted to EDB.
Requirements for individuals
MOM will be the one issuing the EPs. Besides ensuring that your company qualifies for Tech@SG, you will have to ensure that the individuals whom you are applying for meet all the requirements below:
- Applicant's fixed monthly salary meets the minimum prevailing EP salary benchmark (at least S$4,500)*
- He or she passes background and due diligence checks by MOM
- The applicant is a core team member whose functional role and seniority are as per the conditions outlined below:
- Functional role: He or she falls into one of the following categories:
- Core business functions: business development, human resources, finance, partnerships, strategy, general management
- Technical functions: product management and/or development, software engineering, solution architect, product design, data science
- Seniority: Applicants should be in roles that are Manager-level and above
- Analyst/Associate/Executive/Representative-level roles are not considered as core team members.
- Functional role: He or she falls into one of the following categories:
*Information is correct and updated as of September 2020 after the latest MOM's changes. For more information on details, please contact us.
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Further Financial Support For Companies Hiring Locals in 2021
During the Budget 2021 announcement by Deputy Prime Minister Mr Heng Swee Keat, he declared that the government will undertake further measures to support local companies in terms of hiring of new employees and retaining existing workers.
This come mainly in the form of an extended Jobs Support Scheme and also more budget allocation to the SGUnited Traineeship Program.
Extension of The Jobs Support Scheme (JSS)
JSS was enacted in 2020 when the pandemic was at it’s worse. The scheme helped subsidise salaries for companies for up to 75%. This latest extension of the scheme will see the Government investing a further S$700 million.
The JSS will be extended for companies in Tier 1 and 2 sectors, subsidising salaries paid till September 2021. The subsidy will be between 10% to 30%, capped at $4,600 per month per employee.
Tier 1 (aviation, aerospace and tourism)
April 2021 to June 2021 - 30%
July 2021 to September 2021 - 10%
Tier 2 (retail, food services, arts and culture, and marine and offshore)
April 2021 to June 2021 - 10%
July 2021 to September 2021 - 0%
All employees with mandatory CPF contributions will be considered towards the JSS subsidy. Employees who are also shareholder-directors of the company may also be eligible subject to conditions.
SGUnited Jobs and Skills Package
The SGUnited Jobs and Skills Package will get an additional $5.4billion boost to support more hiring of locals in 2021. The main support will go towards funding the Jobs Growth Incentive for another further 7 months till September 2021.
The jobs growth incentive encourages companies to hire locals to fill the vacant position. In doing so, the Government will help subsidise the 25% of the new employee’s gross salary for up to S$5,000.
If the company hire locals whom are ages 40 and above, persons with disabilities or ex-offenders, the company will get a further 6 months salary subsidy, bring the total up to 18 months. The salary cap will also be increase to S$6,000, up from S$5,000.
The basic eligibility criteria for the jobs growth incentive is that the company must increase their local hire headcount and the minimum wage to be at least S$1,400.
As the world is slowly recovering from the aftermath of the damage caused by the pandemic, companies must continue to keep themselves lean and competitive in order to sit through this difficult period. At the same time, for companies who are looking to expand, this could be a very good time to utilise the various support given by the Government to companies.
If you are looking to relook at how your company operate in order to achieve greater efficiency or you would like to take advantage of the various support given by the Government to companies, do come talk to us today!
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Startup Grant For Local Businesses - Startup SG Founder
The aim of the Startup SG Founder program is to promote and encourage more new innovative startups in Singapore. On 17th August 2020, Deputy Prime Minister Heng Swee Keat had announced a S$150 million budget to enhance this Start-Up Grant.
The Startup SG Founder program offers two different options for you to apply under.
- Train Track – it helps people who are interested in starting their own companies but they lack entrepreneurial skills, viable business plans or ideas. Partners who are appointed, known as Venture Builders and Accredited Mentor Partners (‘VB-AMP’), will be offering participants 3-month Venture Building (VB) programs. During the program, they will be able to find co-founders, guidance to identify business ideas, develop them into actual products, offer to potential customers, find investors and raise capital for their new venture.
- Start Track – this is designed for innovative startups (incorporated for less than six months) that are founded by first-time entrepreneurs with mentorship.
In order to be eligible, the following criteria must be fulfilled:
For Train Track
- Individuals must be Singapore Citizens (SC) / Permanent Residents (PR) (collectively referred to as ‘Singaporeans’) and must commit to a 100% attendance rate to be eligible for this track.
- Apply for Startup SG Founder “Train” through a Venture Builder and Accredited Mentor Partner (‘VB-AMP’). Shortlisting and selection of participants into the VB Programmes are subject to the VB-AMPs’ screening criteria. They include the applicants' aptitude, expertise, background, and related experience of the applicant. The applicant must also be able to commit to running a startup after the program.
VB-AMPs are AMPs who can offer VB programs of at least 3 months and have a strong track record for generating high-growth startups.
These institutions provide:
- structured training in entrepreneurship
- training and guidance to participants in identifying business ideas, developing ideas into products, market validation, and finding capital
- assistance to participants in finding co-founders to form founding teams
- shared resources such as space and networks to industry experts
- Demo Days as a platform for entrepreneurs to showcase their innovative solutions
- mentorship to the startups after forming these startups
Click here for a full list of VB-AMPs.
For Start Track
- The team has at least 3 SC/PRs, who are the main applicants of the grant;
- At least 2 of the 3 main applicants are first-time entrepreneurs;
- The main applicants who are first-time entrepreneurs must hold a minimum of 30% equity in the company collectively;
- The company must have a minimum of 51% SC/PR shareholdings;
- The company must be less than 6 months old from the date of incorporation, at the point of application to the AMP;
- The 3 main applicants must contribute meaningfully to the company, full-time commitment and not employees of another company;
- At least 2 of the 3 main applicants should commit full time to the company, and must be key decision-makers to the company;
- The main applicant(s) must not have received any funding for the proposed business idea from another government organization;
- The proposed business idea must not be one of the following: cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlors, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.
- Apply for Startup SG Founder “Start” through an Accredited Mentor Partner (AMP). Applicants have to reach out to an AMP of their choice and submit their pitch deck for the AMP’s consideration. AMP will assess applicants based on (but not limited to) the following criteria:
- Differentiated business – how innovative the idea/product/service/business model/process is in comparison to what is already available in the market
- Feasibility of the business – whether the business will be profitable
- Potential market opportunity – how big the target market is, and how the company intends to reach out to this customer segment
- Management team – whether the founding team demonstrate passion and entrepreneurial spirit, and have the relevant technical and business skills to execute the idea.
Letter of recommendation
If the AMP assesses that the applicant has met the eligibility and evaluation criteria, they will provide a letter of recommendation to the applicant. Applicants must then attach this letter in an online application form and submit it to Enterprise Singapore within 2 weeks from the receipt of the letter of recommendation. Enterprise Singapore will inform the applicant and AMP of the application status for the grant.
AMPs a.k.a Accredited Mentor Partners are selected based on the strength of their incubation and management team, program quality, and operational sustainability. This would include the AMP’s track record in grooming startups, the overall quality of mentors as well as their access to markets and funding.
AMPs may take up equity in the startup. Startups interested in applying for the Startup SG Founder grant should approach AMPs with their business plan.
Click here for a full list of AMPs.
The main benefits of the Startup SG Founder program as summarised:
Train Track
Selected participants for this program will receive a monthly allowance of $1,500 / month over the 3-month training period. This helps the participants to fully focus on building their innovation into viable businesses.
Start Track
A (pre-seed) grant amount of S$50,000 over the one-year grant period. A co-matching amount of S$10,000 is required (subscribed as shares).
How To Apply
Startup SG Founder Train Track – Applicants will need to complete the application form on the respective VB-AMP’s website.
Startup SG Founder Start Track – Submit pitch deck to an AMP.
Let us help your business today!
We have helped many foreign clients set up businesses seamlessly in Singapore. Our team can assist you to tap into the various government grants available. Get in touch with us today.
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A New Work Visa For Established Foreign Tech Professionals To Work In Singapore - Tech.Pass
Tech.Pass is an initiative administered by Singapore Economic Development Board (EDB) to draw and attract established tech professionals to our shores from around the world. And to perform disruptive innovations. It is launched in January 2021.
The holders of the Tech.Pass have a few options on how they wish to apply for it. They can start a business, join as an employee, invest in a Singapore based company or even lecture at local universities.
Some key features of the Tech.Pass
- Start and operate in more than one tech companies
- You can be an employee in more than one Singapore-based companies at any time
- Transit between employers or being an entrepreneur
- Be a mentor or consultant, lecture in local institutions of higher learning
- Be a director or an investor in one or more Singapore based companies
- Sponsor stay for spouse, children, and parents in Singapore on either a Dependants’ Pass (DP) or a Long-Term Visit Pass (LTVP) issued by MOM.
- Renew for another two years, upon meeting renewal criteria.
To qualify for the Tech.Pass, the applicants must satisfy any two out of the following conditions:
- Drawing a fixed monthly salary of at least SGD20,000 for the past 12 months.
- Holding a major role in a tech company for 5 years or more. The tech company must have a valuation/market cap of at least US$500 million or at least US$30 million funding raised.
- A leading role of more than 5 years experience, in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million annual revenue.
The first batch of the Tech.Pass will have validity for 2 years. After 2 years, the holder must meet the following criteria for renewal approval:
- Earned a total of SGD240,000 in assessable income (can be a combination of salaries and/or business income) based on the latest Notice of Assessment from Inland Revenue Authority of Singapore (IRAS); or
- Demonstrate total annual business spending of at least SGD$100,000 and employ at least 1 local Professional, Manager, or Executive (PME) or 3 Local Qualifying Salary (LQS). (PME refers to Singaporeans or Singapore PRs with at least $3,900 salary with Central Provident Fund (CPF) contributions. LQS refers to Singaporeans or Singapore PRs with at least $1,400 salary with CPF contributions)
AND during the time of renewal, be performing in at least two of the following roles, and one of which must be from Group (A):
Group A:
- Founded a company in Singapore which offers a tech-based or tech-enabled product or service
- Holding a leading role in a Singapore-based tech company
- Having served a leading role in 2 or more Singapore-based tech companies
- Held a technical role, leading a team in a Singapore-based company
- Employed in a technical role leading a team in two or more Singapore-based companies
Group B:
- Served on Board of Directors of a Singapore-based company (does not need to be a tech company)
- Took on the role of advisor/mentor to a Singapore-based startup
- Been a professor/lecturer/adjunct lecturer in a Singapore Institute of Higher Learning.
- Provided training in some other form not covered by B2 or B3 above
- Invested in one or more Singapore-based tech companies
It is not necessary that you must secure employment before applying for Tech.Pass. This is in fact, similar to Personalised Employment Pass.
Applications started in January 2021, and there will only be 500 available places. Do check back to our blog for more updates.
Keen to apply for a work pass in Singapore? We can help. Get in touch with us today!
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Consequences Of Failure To File Annual Returns
What does the Act say?
In accordance with Section 197 of the Companies Act, all companies need to file their annual returns on time. Failure to file annual returns will result in a Singapore Dollar SGD $300 late lodgement fee. This $300 late lodgement fee will be payable when the company files the annual return. Do note that this is just for late annual return filing.
If the Annual General Meeting (AGM) is held late, the company will also be in breach of Section 175 of the Companies Act and will also be liable for another penalty fee.
Accounting and Corporate Regulatory Authority (ACRA) may also offer a fine to companies and/or directors to compound the offence in lieu of prosecution. The minimum composition fine for breaches of Section 175 and Section 197 of the Companies Act are both SGD$500 each.
If a company continually breaches these requirements, it can be struck off from the register. The directors can be disqualified from acting as a director of companies if he or she has three or more companies struck off by ACRA within a period of 5 years, as stated in Section 155A of the Companies Act.
If you are unsure of the filing requirements of companies, you may refer to this article:
Singapore Companies Filing Requirements
Remember that failure to file your company’s annual returns can have very dire consequences.
Here is an article about the Important Compliance Requirements for Singapore Companies.
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
Yours Sincerely,
The editorial team at SG Company Services.
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When Is The Right Time To Hire An Accountant?
Challenges you face
As a small-medium enterprise owner, you will face many challenges during daily business operations. One of the common challenges that you will face is multi-tasking. You may often find yourself attempting to do multiple tasks yourself in order to save on costs. An important milestone of your journey is to hire an accountant.
But for something as complex as taxes, you may be spending too much time on it. For example, if you are spending 8 hours on the task, and your time is worth $150 per hour, the cost of doing it yourself is actually $1,200 and not $0 as per what you think. If you were to engage an expert such as an accountant to do the taxes for you, he or she probably spends half the time and at a cheaper cost. As a business owner, you will in turn have more time to create revenue for the company and leave the task to an expert.
In this case, we will explore further on situations you may need to engage an accountant.
Business plan
Accountants at this stage will be able to add tremendous value to your business. Their access to accounting software and their financial knowledge will benefit you from the start. It will potentially save you precious time and money.
Legal structure
Different forms of businesses will have varying degrees of legal liability in different countries. You should consider which is the best form of legal structure for your type of business. Under certain structures such as the sole proprietor, you may be able to offset some of your own living expenses against tax. But it will also mean that you are personally liable for the debts incurred by your business. If you fail to repay a creditor, they can come after your personal assets.
In this scenario, it is best to seek the advice of a professional before deciding which legal structure and form to take on for your business.
Company finances
This is obviously the most important reason why you need to hire an accountant. Cashflow is the lifeblood of any running business. Doing your own accounting can spiral out of control easily if you attempt to do it on your own. And if you are constantly feeling like you are losing control of your debtors and how much they owe you, it is best to hire an accountant to get your books back in order.
An accountant can also help by managing your payroll to measure key business metrics and parameters. Such as the cost of goods sold and employees’ payroll against total revenue. It will be better if your accountant is using a software that is integrated with your bank account for ease of producing timely reports such as Xero.
Tasks delegation
Being a business owner, you may constantly feel like you need to have control over every aspect of your business. The feeling of ‘no one knows your business better than you do’ can easily stress you out over time. A big part of successful business owners owes it to their ability to trust and delegate certain tasks to experts and professionals.
If I were in the business of food, I would not attempt to try to do a video or a photoshoot of my own products myself, but rather engage a media professional to do it for me. The same goes for managing your company finances. Choosing the right accountant and delegating your company’s finances to that professional, will ultimately free up more time, and you can focus on productive tasks such as generating more business for your company.
Attempting to do everything by yourself is not only inefficient but eventually, the time and energy spent on attempting to do everything by yourself may be fatal for your business. Learn to delegate tasks to the right professionals.
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