Workers put in even more hours than usual since their managers still refuse to let them take vacations abroad and assume they have “nothing better to do” than to be available at all times. Understandably, you’d want to leave your 9-to-5 behind and pursue your corporate secretarial firm Singapore. Fortunately, from a bureaucratic standpoint at least, Singapore is among the simplest nations in which to establish a company. But it’s a whole different ballgame to put a profitable company plan into action.

The steps required of company owners are outlined below

• Verify your preparedness

It is a common aspiration to use entrepreneurship as a means to leave a job that one despises. But before you go in headfirst, you should realize that managing a company is challenging and fraught with difficulties. You need more of a reason to leave your work than just wanting to, or you won’t be able to take the hardships in stride. Before you act, you should make sure your plan is sound and gather the knowledge, resources, and assistance you’ll need to succeed.

• Collect Funds

You’ve thought this through and developed a solid plan for your company. You need to go out and get some funding if you want to make your ambitions come true. You should begin by making a rough estimate of your capital requirements. The magnitude and nature of your firm may have a huge impact on this. It’s possible that some very humble, self-funded enterprises can get going with very little sums of money. If one were to go into business for themselves as a personal instructor, music teacher, internet developer, or artist, for instance, they could be able to get started with only their own money.

• Create a company bank account

If your firm will have more than one employee, you should register a separate business bank account unless you are a single owner and want to be paid directly into your account. Consider the minimum initial deposit and minimum balance/fall below costs in addition to the monthly maintenance charge when weighing your alternatives. Most Singaporean banks provide business checking accounts, however, the OCBC Business Expansion Account and the Maybank FlexiBiz Account stand out for their lack of minimum deposits and monthly maintenance costs, respectively.

• Prepare your workspace

A physical business location where mail (and tons of junk mail) may be received is required when forming a corporation. But it doesn’t mean you have to have an extra office. A virtual office allows corporate secretarial companies in Singapore that don’t need a physical location to “rent” a business address. Or, if you meet the requirements, you may apply for a house Office Permit and operate your company out of your own house. You are restricted to no more than two non-local hires. Real office space is likely necessary for a corporation of a significant size. Coworking spaces are an alternative to traditional office leases or purchases, and many of them also provide mailing addresses.