In the world run by computers, it is obvious that any business related to technology could bring in a lot of revenue. And the same goes for software companies. Especially in Singapore, a place renowned for great IT infrastructures and services, the software business has been flourishing a lot. Due to this, both the investors and developers are keen on establishing a software development business in Singapore. So, we take you through the process you should be approaching to build your software development business.
It is true that you could be capable of developing software’s for various services, but you should make a list of your primary interests. There are a lot of industries where you, as a startup can thrive on, you could be building software’s for various fields like medicine, banking, etc. according to where your interest lies.
Like any other business, the business registration of your software company is a must. You will need to register your software development company with the Accounting and Corporate Regulatory Authority. This can be easily done online in this link. http://www.bizfile.gov.sg/.
And if you are a foreign business company looking to spread your wings in Singapore, then you should also be approaching Enterprise Singapore. ( https://www.enterprisesg.gov.sg/).
The name of your company should not be resembling or be too similar to any other existing company. It should not be vulgar, and also, the name of your company should be reflecting on the type of service you provide. It could also be necessary that your company has a working website.
While registering your software company, you should also make it clear whether your company is going to be a private limited company, partnership business or sole proprietorship. Also, your software development business could be home-based, small or startup.
After registering your company, you will have to get the necessary licenses based on the various services you provide. It all depends on what industry your software company offers its services to. Also, it is mandatory that whatever your business serves is always within the law. Make sure you follow every rule with your business. You should be careful about this, and you might also consider hiring a lawyer to help make sure you are not doing anything wrong.
Based on the size of your software development business, you will also need the necessary human resources. So, make the best team! Hire the best software developers and also make sure that everyone in your business is legal to work in Singapore.
Now, your software company is up and running, but still, there is something you should not forget. You need to be dedicated to what you do and give your best on no matter what you approach with your company. A company doesn’t become successful overnight, and even if you do, you should still make sure that you don’t be so consumed by it that you falter.
I hope this helped you. And best wishes to the company you are about to establish.