What is the secret to establishing a profitable business? The first ingredient is great employees. Hiring good people for your location is not always possible, primarily if you are working on a limited budget. For small businesses and start-ups, finding the right hiring process can impede the cash flow significantly. Research shows that a new service-oriented company can end up spending more than $1000 in hiring one employee. Whether you are a fresh startup or an international conglomerate, looking towards hiring business management professionals to make a dent in the uber-competitive Asian business market, you should consider outsourcing your business secretarial needs.
What is a corporate secretarial service?
Corporate secretarial services for off-shore companies provide the necessary skill set for the proper management of company accounts, risk mitigation and compliance with local laws. It is often challenging for a foreign company to adhere to the local regulations in an Asian market. Outsourcing your secretarial services can help you keep track of the annual general meetings, prepare for the Board of Directors meetings and file the necessary reports to the ACRA (Accounting and Corporate Regulatory Authority). A new venture has a lot to worry about, but sweating about the administrative activities should not be one of them. Check out what a dependable corporate secretarial service can offer with Business Incorporation Services with Acrafile.
What purposes does a company secretary fulfill?
They are responsible for taking care of the entire administrative activity of your company. Here is a brief glimpse of the duties they tackle every day –
- They ensure the company’s compliance with regulatory actions.
- If you are setting up business in an Asian market like Singapore, they help you adhere to several rules of commerce. For example – setting up shop in Singapore requires you to hire a company secretary as per the Singapore Companies Act.
- Since the Act requires a person other than the director or a shareholder to fulfill this position, you need to rely on responsible and trustworthy business incorporation services.
- They also help your company avoid the legal consequences of not meeting the ACRA requirements after you enter the Asian market.
The position of a company secretary is crucial, although you have to outsource the task to foreign service providers. Therefore, it is imperative that you conduct thorough research, check contemporary online reviews and speak with your business attorney before selecting a service provider to look after your jurisdictional prerequisites.
What are the advantages of working with a corporate secretarial service provider?
Since the administrative tasks are vital for a company, irrespective of the geographic boundaries, it is natural for you to feel the jitters before you choose a provider. So, here is a precise look at the advantages of hiring secretary services –
1. Regular expert handling of administrative actions off-site
You might be in a different part of the world, but your location does not restrict your dreams. There is no reason you should not be able to enter and dominate a new market, especially when you have the support of professional secretarial services. Outsourcing this job will help you stay on the right side of the strict commerce laws of a new country that might be impossible for you to follow from such a great distance. A corporate integration firm has the talent your business needs right now to make a mark in the new foreign market.
2. It is a cost-efficient process
While employing new talent exclusively for your company can cost you big bucks, hiring the service of a corporate business incorporation service will not. They have the trained skill set ready for you to explore and leverage. These people have been doing administrative work for foreign companies for years. They know how to make the most of the money you are spending on their services. So, no more training sessions, annoying interview hours, employee packages and office maintenance cost. You can access a superior talent-pool that offers you more than what your in-house company secretary can offer.
3. Consistent High-quality service every time
The corporate secretarial services in Singapore are popular among entrepreneurs for the high-quality services. The staff of the companies that offer remote company secretarial services receive thorough training before descending on the field. You can reach out to them during your office hours and sometimes, off the clock, for administrative advice. Expert insights and regular feedback are other aspects of any reliable corporate service outsourcing.
4. You pay for what you get
Most of the professional service providers offer a dedicated suite of services to their clients. You can see the set of corporate secretarial services they provide on their sites, or you can find out about add-on services from their customer care. Some of these services include – updating the books of the statutory register, filing to ACRA, preparing the meeting minutes, safeguarding the company seal and reinforcing the guidelines to keep your company compliant to local (national) laws.
5. They increase convenience
Corporate services have the apt knowledge to handle the entire set of administrative requirements for your company. If you manage to choose the correct company for all your off-site regulatory requirements, you will be able to relax as their in-house talents take care of these needs. You can forego the worrying that comes with in-house staff training and patch up work that follows when the on-site employee makes a wrong move.
If you are moving to a new market, in a new country, it makes complete sense to hire local talent, who are aware of the country’s commerce laws and rules. Even with full-time on-site employees, you will need the help of one or more local authorities to manage the new market properly. Without the support of corporate secretarial services, you might need to spend a fortune in flying up and down, several times a year to file for changes, updates and pay taxes. Having a team of expert business incorporation professionals will help you in more than one way to make your mark in a competitive market.