I looked into Singapore corporate secretarial services recently as a way to cut business costs. Doing business here is an excellent way to save money, but there is always a way to save more. And saving money in the global economy means staying afloat while your less savvy competitors go under. You have to always be looking to help your bottom line because if you don’t, someone hungrier will figure out a way to to do better than you. It’s amazing the ways you can save money. I try and stay away from laying people off, however, because it’s not in my nature to hurt my employees.
Nevertheless, I found a way to save a lot of money by cutting a critical position in the company. Singapore is an easy place to do business in, but they still have their rules, regulations, and laws and following them is critical to your success. If you try and cut too many corners, you can lose your business permit and possibly face severe fines. One of the requirements is that your corporation must have a company secretary. This is a position that advises your corporate board about various issues. So cutting that position is fraught with peril.
I was paying my guy a lot of money for what I thought was a fairly pedestrian task. I looked online for some options and found a company that will fill the roll for a fraction of the money I was paying my employee. Plus they had a solid record of performance. As difficult as it was, I made the decision to release my employee and allow the company to fill the position. They hit the ground running and never looked back. They’ve done an excellent job. It’s an example of how outsourcing can really improve your bottom line.