BizTech

Business and Technology News from NUS

Month: December 2019

How to Verify a Company in Singapore

bugnh77990oo.png

One unfortunate side of the business world is dealing with scams. There are always companies who seem good on paper but are operated by fraudsters only interested in making a quick buck. For entrepreneurs dependent on new partners, vendors, or suppliers, this is a risk they have to take. However, there are ways to mitigate these threats by checking the reliability of their potential clients or partners.

How to get information on a Singaporean company?

There are many ways to find information about a company registered in Singapore. If you have the time, then an extensive search on social media and online forums could give you a broader idea of the company’s reputation, but for time-strapped business owners, ACRA’s Singapore BizFile website is an excellent place to start. Here you will be able to verify the status and legal standing of a business quite easily.

Company Status – Live means the company is functional

Address details – ideally, this should be a proper address and not a mailbox. If it does turn out to be a mailbox, then you can ask for the mailbox provider’s contact to investigate further.

Industry – this should be similar to what the company advertises. If they have several different types of services listed, then it could be cause for concern.

Annual General Meeting – private companies don’t have to hold an AGM, but if there is an AGM date listed, then that would be a positive mark in the company’s favour.  

Annual Returns – this is another statutory compliance for all companies which must submit the correct documentation within 30 days of holding an AGM.

Financial Statements – regular submission of financial statements is another favourable point.

Is it important to verify a company?

Well, yes. An underperforming or fraudulent partner will most certainly affect your business – either in terms of monetary loss or reputational damage. Not only will the time spent digging up this information will save you much more effort and money down the line, but it will also help you approach your new partnerships with confidence. 

Doing business is a test of character – doing business papers shouldn’t be. Osome helps entrepreneurs with company incorporation and establishes all the accounting online 24/7 via one cloud-based platform.

Effective Risk Management Strategies for Forex Trading

1024x512-1024x512.jpg

It goes without saying that investing and trading in the Forex market requires meticulous a careful planning.

Of course, the same could (and should) be said for any investment or trading opportunity, but it is arguably truer in the case of the Forex market than it is anywhere else. Trading is about investing at the right time, and knowing how to work in as much alignment with the market as possible.

The nature of investing is all about taking adequate advantage of the market when those opportunities arise. Together, these two ideals form the underlying framework of how the Forex market operates on a global basis.

Of course, it is always important to know the most effective and successful risk management strategies when trading. This is especially true in the Forex market. There are many risk management strategies that you could approach the market with, but there are three that are more important than any other contributing factors out there. These three effective risk management strategies have the most potential for impact and the highest success rate across the board.

Knowing and sticking to your risk limit

Obviously, any investment opportunity taken inevitably comes along with some risk involved. However, if you are going to have any hope of successfully investing and playing in Forex trading, you must know your risk limit. This is first and foremost.

Knowing the market is all good and well, but if you risk too much or too little, you can blow the entire opportunity all too easily. So, before anything else, know your risk limit – and stick to it as much as possible. This is crucial for your continued longevity and success in the field of Forex trading and investment.

Knowing that time management is crucial

You must have an understanding of when the best time to move in the market is. The nature of the Forex market is that it is literally always shifting and transforming. There is never a dull moment, but that also means that there is never a truly stable moment.

Even if a trading move seems concrete, you must be aware that it could fall through at any second. Nothing is certain here. Time management is paramount in the investing and trading of the Forex market, so it literally pays to know the opportune time to make your moves.

Knowing the ideal time to make your moves

If there is an ideal time in the Forex market to make your moves (regardless of if those moves are investments or trading opportunities), it is around 4pm. Why? Because this is the time in the market where the price points are effectively moved to their most ideal points. Referred to as a “fix up”, these movements allow investors and traders alike the opportunity to do their business in the market at the time where there is as close to opportune value as possible for the parties that are initiating their business deals during that time.

Tech Businesses Continue Their Rising Dominance

1344345.jpg

Thanks to ongoing modernisations, the world that we live in is one that is paved with good intentions, digitalisation, and technological advancement. Even (and especially) the business landscape is experiencing an incredible shift in recent years. The fact is that technology is becoming more and more of a central component in many aspects of our lives. In the case of the ever-evolving professional landscape that is business, technology continues to prove its ever-heightening value time and again. So much so, in fact, that there are more technology-centred or otherwise technologically focused businesses than ever.

What is more, is that there are more emerging out of the woodwork all the time. The growing pool of tech businesses is one that is showing no signs of slowing down any time soon. There is something truly and unrelentingly intriguing about the growing dominance of tech businesses, and it all comes to a growing willingness and ability to not only accommodate these technologies, but to use them to build up a business when the time and the occasion suits best.

Tech businesses introduce pivotal shift

From the introduction of the online business that services your tech devices, to the tech companies that are designed to work on and improve the tech-savvy framework of not only businesses, but all aspects of the world around us, technology-focused businesses are the very same businesses that have pioneered a pivotal shift into motion. Essentially, that shift is centred towards the goal of creating and advancing a time where technology is a prominent piece of any business. This is the new norm, and it is only just starting to take flight.

Why tech businesses are still rising up

At the end of the day, the most exciting part of the rise of tech businesses is that this is a rise that is seemingly always rising to new heights. Perhaps more than anything else, there is the distinct realisation that what is most important in the world is a movement towards an exceedingly technologically paced future – not just in the landscape of business, but throughout the modern (and future) world. Tech businesses became more popular and necessary the more relevant they became, and now they are continuing to become more important all the time.

The future for tech businesses from here on out

As time goes on, the need for tech businesses is not going anywhere. In fact, one could argue that the necessity for tech businesses is only going to continue growing with demand around the globe. Tech businesses are all about bringing the best out of life and giving it back to people. This effective presence and exchange of power is the dominating force behind the continuous growth of tech businesses around the globe. It might seem like tech businesses are close to hitting their peak, but best believe that this could not be further from the case. If anything, the best is yet to come. Tech businesses are only just starting their dominance.

Three Steps to Keeping Your Team Motivated and Passionate

gyh7uuj.png

When it comes to inspiring motivation and productivity in the workplace, it goes without saying that this can sometimes feel like an uphill battle. Sometimes, employees are too busy to feign interest, and other times you feel like you are too busy to check in on their progress often enough. However, it is of vital importance that you make the time. Even the strongest businesses and empires alike can crumble to the ground if they are not kept accountable and motivated throughout the working week.

From corporate training modules, to team building events, and every manner of innovations in between, there is something intriguing to be said about the power of communication and togetherness. Even when an employee leaves your team, it is important to conduct an exit interview. The best workplaces are ones that take the right steps to keep their teams motivated and on track. It can be difficult to know where to begin. So, there are three key steps that you can meticulously follow, adding your own flare whenever you feel necessary, to keep your team motivated and passionate.

Having monthly events outside of the workplace

It might sound strange, but getting together outside of work is an instrumental part of keeping the team passionate and on track. Not only does this encourages employees to band together and communicate, forging stronger friendships outside of the office, but it effectively places them in a setting where they can discuss their work in a healthy way that does not distract from the tasks at hand in office. Additionally, this fosters a keen sense of appreciation for the role that others play in the office, which can make everyone want to work harder to boost the team up, rather than potentially flailing and letting the team down.

Having regular brainstorming questions

In having set brainstorming questions in the workplace, you are ensuring that the creative juices are always flowing, encouraging and enticing the best out of your people. Starting off a brainstorming session by providing food and drinks is a great way to fuel them for the session and break the awkward ice that seems to build up in these types of professional environments. In brainstorming sessions, encouraging employees to bring their ideas to the table fosters constructive feedback, team bonding, and creative excitement, all of which are the building blocks that create a more productive and motivated workplace.

Putting their career trajectory in their hands

Have them play an active and constant role in setting, meeting, and even exceeding their professional goals. Many companies like to be in control of their employees, deciding how they should perform and where they are falling short. But good companies are those that sit down with their employees privately and ask them how they think they are going, what they think they can improve on, where they want to go next. In making employees an active part in their own professional goal setting and ongoing development, you are making them more motivated to perform better, to reach the goals they set out for themselves.

© 2020 BizTech

Theme by Anders NorenUp ↑

Skip to toolbar