Best Company Secretary Services in Singapore
The first question one might encounter while setting up a business is whether to incorporate it or not. The business could be a start with incorporation of Company in Singapore. In both cases, the process may be up or a new for-profit incredibly complex. No matter where you are in the world, there are so many legal, practical and financial problems one may face while setting up a business. So here are some points that one should keep in mind in the process including the incorporation of a company. Types of privately owned businesses:1. Sole Proprietorship: - When a single person is starting up any business completely on his own then it is called a sole proprietorship. In this way, it is a lot easier to get your business registered. It is cost-effective; the decision-making is easy and convenient. But the downside is that the proprietor must bear all the responsibility for liabilities. 2. Partnership: - In this case, two or more persons unite to form a single entity. All the partners must bear the liabilities equally. The partnership-owned business comes in handy while raising a fund as it is considered safer than the sole proprietorship. 3. Limited Liability Partnership: - Unlike a partnership, this provides you the benefit of a lot less liability. Also, one individual partner is not responsible for another individual partner’s act. 4. Private Limited Companies: - Startups and businesses with higher ambitions generally opt for private limited companies. Such companies have shareholders and generally have less liability.