What are the different types private companies?

Unlike a public company, private companies need not to be registered in Singapore Exchange and can only have a maximum of 50 employees. I've learned that there are different ways to register or set-up the company. What are those ways to set-up a private company and how are they different from eachother?

User comments

No Name

The first one is Sole Proprietorship where an individual who starts up a business, Partnerships whre two or more persons (up to 20) who create a company. Has Limited and Limited Liability versions and Private Limited Companies where the company is an entity separate to the shareholders who aren’t personally liable for any debts incurred. A public company just needs to register itself to the Singapore Exchange.

2020.03.24 15:44

Please leave your knowledge and opinion!

Related Forums

is it necessary for my company to have it's own website?

Making your own website would be very beneficial for you and your company. Your email marketing would be more effective, you'll get more traction in search results, you won't be at the mercy of social media and you'll look more legitimate. Without a website, most people would not be able to buy products online and most people tend to lthink that companies with their own website are more legitimate.

How do I build customer trust in my website?

Make the first impression count. The first impression always lasts so make sure your layout is impressive. Being certified is another way to earn their trust as it proves your website's legitimacy. Always be transparent to your customers and show them all the comments about your website and products. Make sure that your website is also up-to-date. Lastly show that you care for your customers and prove that customers always comes first before the needs of the company.

Would a virtual office reduce my business cost?

Small and Medium Enterprises are going virtual. I want to increase my productivity by going virtual however I'm not sure if this would lower my cost. I also want to decrease my overheads. Would having a virtual office reduce my business costs and if it does how would it reduce my business costs? Would it be more efficient?

What are the best communication apps for SmartPhones?

There are many apps that you can download but here are one of the best. A very popular communication app is Skype. You can use Skype to video or voice call anyone in the world; get up to 25 people together on a call; transmit video, photos and files of any size; share your computer screen; and send text or voice messages. Skype can also be used on Amazon Alexa devices. Fuze is a videoconferencing app that hosts online meetings for all devices which makes it very efficient for meetings. There are other apps you could try such as Addappt, Pushover and Slack.

What are the cyber threats that businesses overlook?

There are many threats that businesses overlook. One of the main threats are Malicious e-mails where the cyber criminal sends you e-mails that looks like it comes from a credible company but it is actually just a phishing technique. You need to be mindful on these and dig deeper. Avoid clicking unnecessary links. VPN security is another issue. VPN's are not all companies provide the ironclad safety that you need so you should make sure that your VPN provider is reliable. Memory attacks are common and some malwares can bypass your RAM so it is also better to update your Operating System whenever there is an update.

How do I spot loan scams?

Scammers have developed a lot of techniques to stip businesses of its money. There are general types of scams to look out for. First is the peer-to-peer lending scam. The second one isthe credit repair scam. New business owners should worry about this because they target new business owners offering to increase their credit scores for a certain fee but this is all a scam. The third one is the consultancy fee scam where the scammers convince to offer you assistance in getting a loan even though it is not that hard for you to need an assistant. There are many more to watch out for. Key is to alwayys be alert and analyze the situation.