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Running My Business

Running My Business

How the Increase In National Insurance Contribution Rates Will Impact Your Business

After making it through the pandemic, how will the new Health and Social Care Levy (HSCL) affect your bottom line? Many small businesses will feel overwhelmed. But you can take control by understanding the immediate changes and preparing for the future consequences for your business.

Running My Business

Should I Close My Company or Make It Dormant?

Choosing between closing your company for good and making it dormant is a huge decision to make. Before taking that step, get to know what the consequences are for each decision. We’re here to help.

E-commerce

What an Invoice for E-commerce Businesses Needs To Have

For business owners who own and run an online store, you probably already know that invoices must be sent to your customers for the services you provide or the goods you sell, as a form of purchase proof.

E-commerce

What You Need To Include In An Invoice for E-commerce

For business owners who own and run an online store, you probably already know that invoices must be sent to your customers for the services you provide or the goods you sell, as a form of purchase proof.

E-commerce

What To Include in an E-commerce Invoice?

For business owners who own and run an online store, you probably already know that invoices must be sent to your customers for the services you provide or the goods you sell, as a form of purchase proof.

Running My Business

4 Things EU Companies Need to Know to Trade in UK Post-Brexit

Even though the new import and export regulations are among the most important changes for sellers, it is wrong to assume that if you got your finances and taxes sorted out, that is all you need. In this article, you are getting an overview of important changes and how to manage them.

Running My Business

13 Types Of Small Business Loans That Could Help Grow Your Company

There are many reasons why opting for a small business loan could be beneficial, offering an important injection of cash when you really need it. And the good news is there are lots of different types of business loans in the UK.

Running My Business

Is It Necessary for My Company To Have a Data Protection Officer

Hong Kong is a fantastic place to base e-commerce businesses as it is well-connected with the rest of the world. This means that personal data will be collected, used and processed during the business transactions.

Running My Business

How To Transfer Shares As a Private Company

In a UK company, shares are often transferred from one shareholder to another. Depending on your business model and how you wish to proceed, you may want to issue, allocate, or transfer shares.

Running My Business

Cryptocurrency: What Does It Mean to Your Business Operations?

There are more than 4,000 cryptocurrencies that exist. Before you jump on the bandwagon, assess whether cryptocurrencies are suitable to be used in your business.

Running My Business

Is Cryptocurrency Right for Your Business Operations?

There are more than 4,000 cryptocurrencies that exist. Before you jump on the bandwagon, assess whether cryptocurrencies are suitable to be used in your business.

Running My Business

Should You Consider Using Cryptocurrency in Your Business Operations?

There are more than 4,000 cryptocurrencies that exist. Before you jump on the bandwagon, assess whether cryptocurrencies are suitable to be used in your business.

Payroll

How Your Company Can Streamline Its Payroll Process

For a business to run smoothly, the payroll process must be streamlined and error-free. It is easy to streamline and optimize your payroll and other back-office processes within your SMB. Did you know that this can improve your cash flow?

Payroll

Streamlining Payroll Process for SMEs: 5 Tips

For a business to run smoothly, the payroll process must be streamlined and error-free. It is easy to streamline and optimize your payroll and other back-office processes within your SMB. Did you know that this can improve your cash flow?

Payroll

5 Tips for a Streamlined Payroll Process for SMEs

For a business to run smoothly, the payroll process must be streamlined and error-free. It is easy to streamline and optimize your payroll and other back-office processes within your SMB. Did you know that this can improve your cash flow?

Secretary

What Is a Register of Controllers and Why Singapore Companies Now Have To Submit This Document

In April 2020, Singapore businesses will have to submit the Register for Registrable Controllers to ACRA. Before, your company was only obliged to maintain it internally. Now you will have to file the Register with ACRA electronically and maintain it updated at all times.

Running My Business

Does My Company Need A Data Protection Officer?

Data is widely used in today’s world. We are talking about personal data. Individuals routinely provide their personal data to companies during their transactions. On the other hand, companies collect, use and process these data to achieve their businesses’ objectives.

Running My Business

What’s the Cost of Living for a Foreign Business Owner in the UK?

The UK is an attractive place to settle given its fairly high standards of living, state healthcare system, and reasonably strong economy. However, if you’re a foreign business owner considering moving to the UK then there’s another major factor that you must first consider: the cost of living.

Secretary

How To Change My Singapore Company’s Name?

There might come a point when the name you chose for your company during incorporation no longer fits where you want it to go. Often an application to ACRA to change your company name might be more efficient and cheaper, too.

Running My Business

A Guide to Changing Company Name and Information

Change is part and parcel of business—so you need to know how to change your company name and information in order to stay fully compliant with HMRC and Companies House going forward.

Running My Business

7 Tips To Grow Your Business in Uncertain Times

In this webinar, we discussed how businesses can scale and grow this century by raising capital, setting up accounting, and utilizing legal services.

Running My Business

What You Need To Know About Changes To Prompt Payment Code

Large businesses often get into the habit of paying their suppliers late. But why? Well, put simply, because they can. Late payments are so addictive that they have even been described as “the crack cocaine for larger companies”.

Running My Business

How To Close Your Company From Start to End

Shutting down a company is a natural part of a business cycle. Business owners close down their companies for various reasons, either by their own choice or ordered by the Court. This article will go through the process of winding up and striking off a company.

Accounting

A Guide to Dividend Payments for Small Businesses in the UK

Your main goal of opening a company in the UK should be to make profits, and depending on your corporate goals you may choose different ways to extract your financial earnings. One way is to distribute your profits to shareholders, also referred to as paying out dividends.

Running My Business

Why You Should Protect Yourself As You Build Your Business

Despite the measures that the Government had implemented to assist in holding back retrenchments and offsetting employees’ wages, the pandemic and its impact are enduring. All the more reasons for you to get insurance now.

Running My Business

An Online Seller's Guide To Understanding Customer Lifetime Value

Taking a look at customer lifetime value, you'll see it's easier and less expensive to sell your products to an existing customer than to acquire a new one.

Running My Business

What Every Online Seller Needs To Know About Customer Lifetime Value

When you start with customer lifetime value, you will see that it's very simple and affordable to sell your products to an existing client than to acquire a new one.

Running My Business

Understanding Customer Lifetime Value for Online Sellers

Once you establish a customer lifetime value, you'll realize that acquiring a new client is much more costly and time-consuming than selling to existing clients.

Running My Business

Retailers and Food Businesses To Get Government Support in Going Online

Food outlets and retail businesses in Singapore affected by COVID-19 Phase 2 (Heightened Alert) restrictions will get help to offset their F&B delivery costs and to sell on online platforms.

Running My Business

Bans for Small Business Owners Who Fail To Repay Covid Debt

Owners of small businesses who dissolve their businesses to avoid Covid debt could lose their right to serve as directors for up to 15 years.

E-commerce

Make, Manufacture, Wholesale or Dropship Model for E-commerce Business?

Apart from the products you intend to sell, you will also have to make your biggest business decision when it comes to the ideal business model to pursue.

E-commerce

Make, Manufacture, Wholesale or Dropship: 4 Business Models for E-commerce To Consider

As an online business owner, you will have to face many choices. Apart from the products you intend to sell, you will also have to make your biggest business decision when it comes to the ideal business model to pursue.

E-commerce

Make, Manufacture, Wholesale or Dropship: 4 Business Models for E-commerce Businesses to Choose From

As an online business owner, you will have to face many choices. Apart from the products you intend to sell, you will also have to make your biggest business decision when it comes to the ideal business model to pursue.

Accounting

11 Reasons Why You Should Let Osome Take Over Your Accounting

To get the best chance at success, entrepreneurs have to make sure they have the right partners around them when starting their own business. Here’s why we are the right partner for your accounting tasks.

Accounting

11 Reasons To Go With Osome To Take Over Your Accounting

To get the best chance at success, entrepreneurs have to make sure they have the right partners around them when starting their own business. Here’s why we are the right partner for your accounting tasks.

Accounting

11 Reasons to Choose Osome to Take Over Your Accounting

To get the best chance at success, entrepreneurs have to make sure they have the right partners around them when starting their own business. Here’s why we are the right partner for your accounting tasks.

Running My Business

Avoiding the Bottleneck: How To Crack Down on Late Payments

Considering the risks posed by late payments, it’s wise that all small businesses take steps to avoid the issue arising in the first place, and to address the impact if it does.

Running My Business

How SMEs Are Coping With The Economic Fallout Of COVID-19

With the UK being one of the hardest-hit nations, British SMBs have felt the full brunt of this COVID-19-related economic fallout. Let’s explore how they’ve coped throughout this period.

Running My Business

A Guide to Financing for UK Businesses Importing and Exporting Globally

Times are tough for UK businesses that trade internationally, whether it’s contending with the new Brexit regulations or dealing with the knock-on effects of the COVID-19 pandemic. But don’t worry, there’s help out there—provided you know where to look.

Running My Business

New Tax Year 2021: What Small Businesses Need To Know

The recent budget will be much appreciated by thousands of businesses across the country, with reductions in VAT for the hospitality sectors, and the introduction of the ‘super deduction’ tax break, among others.

Running My Business

How To File a Hong Kong Employers Return? Form BIR56A and IR56B

As an employer, you need to fill up the Employer’s Return to report the amount of remuneration and other employee benefits. Form BIR56A acts as a cover letter to all IR56B forms an employer has to submit.

Running My Business

5 Tips from Entrepreneurs on Scaling Your Business Across Closed Borders

In times of this unprecedented economic situation, how can SMEs adjust to become a global player? Several Singapore-based entrepreneurs will discuss the major points of scaling up their companies, and how to survive and thrive today.

Running My Business

What Small Medium Businesses Should Know About UK Budget 2021

What does the budget mean for UK SMBs? And what can they do with it? Let's explore.

Running My Business

What Do SMEs Need To Know About Budget 2021?

With Budget 2021, the Hong Kong government has introduced various measures to help support you and your business, and facilitate long-term growth of all Hong Kong companies.

Running My Business

4 Ways the Singapore Budget 2021 Supports Small Businesses

With Budget 2021, the Singapore government has put in place new initiatives and measures to help you develop new potential, deal with short-term problems, and embrace the future for long-term growth. Here’s how the Singapore Budget 2021 can help you according to your business needs.

Tax

Do I Need To File Income Tax in Singapore for My Employees Working Remotely Due to COVID-19?

What happens if your foreign employee was on a short-term business trip to Singapore and is unable to return to their resident country? Let’s find out.

Running My Business

A Guide to Trademark Registration in Hong Kong

Even though it’s not mandatory, a registered trademark could be a pretty valuable asset for setting up business in Hong Kong.

E-commerce

2021 E-commerce Sales Dates in Hong Kong To Plan For

As an online retailer, you can prepare for sales to anticipate the Hong Kong demand throughout the year and plan for 2021. This article highlights some key dates and events in Hong Kong.

E-commerce

The Only List You Need to Plan E-commerce Sales in 2021

If you’re the owner of an e-commerce store, it’s important to know the holiday dates throughout 2021. An e-commerce calendar is crucial for keeping up-to-date with seasonal sales, official holidays and celebrations.

E-commerce

Dates and Events to Use in Your 2021 E-commerce Sales Campaigns

Singaporeans spent an average of S$113 online from January to June 2020, driven mostly by high-value shoppers. Find out which dates they do more shopping on.

Accounting

Tips for Organising Invoices and Receipts for Small Businesses

Ask any entrepreneur what their least favorite business activity, just about all of them will say “paperwork”. Here’s some tips to get you to organise your invoices and receipts so you can turn your frown upside down.

E-commerce

7 Best Platforms for E-Commerce Entrepreneurs to Sell

You do not need to spend much time, money, or have much know-how to build your online stores from scratch. Most of the time, the best and fastest option is to sign up with established e-commerce platforms. Here are some of them.

Accounting

Keeping Invoices Organised for Your Small Business

Paperwork is the least popular business activity to do because frankly balancing receivables and payables takes up a lot of time and can cause a severe headache. So how can we organise invoices and receipts more efficiently?

Running My Business

How to Manage Expenses When You Have a Remote Workforce

One issue a company faces with a team working from home is also managing the company’s budgets. Employees find it hard to access a company's funds while the finance team finds it difficult to administer these expenses.

Accounting

A Guide to Maternity Leave and its Costs to Employers

Since the Employment Amendment Ordinance was passed on 11 December 2020, you might need to update your company’s policies and procedures concerning pay and leave entitlements for your staff on maternity leave.

Government Grant

A Guide to How Small Companies in UK Can Survive Lockdown 3.0

Entering into the 3rd lockdown, times are tough. If businesses are to survive, they need to make use of the special government lockdown grants available to them. We take you through 4 useful ones.

Accounting

7 Steps To Keep Invoices Organised for Small Business Accounting

Managing business finances might be challenging. Staying on top of your invoices and receipts will help you stay on top of your finances. We take you through 7 steps that will help keep you organised.

Running My Business

9 Ways You Can Protect Your Businesses

Our partner Finaqe advises on what SMEs can look at to protect their business better in order to grow. From trade factoring to business insurance, find out how else you can better protect your business.

Tax

COVID-19 Support: Longer Instalment Plans for Corporate Income Tax in 2021

If your business has been affected by the coronavirus (COVID-19), the Inland Revenue Authority of Singapore (IRAS) has introduced a series of support measures to alleviate cash flow woes of businesses and individuals. Find out more.

Running My Business

5 Reasons an SME Needs an Accounting Firm

As your business grows, the amount of paperwork would also increase and become more time consuming. At this point, it might be sensible to find an accountant for your small business. Here are 5 Reasons why your small business might need to work with an Accounting Firm.

Government Grant

5 Hong Kong Government Funds to Tap Into for Your Startup

The Hong Kong government has put in place a few financing schemes to support the growth of these smaller businesses through financing and loan guarantees. Find out more about them and if you are eligible to apply.

Running My Business

Choosing to Hire or Outsource a Bookkeeper or Accountant: How to Decide

As your business expands, the amount of paperwork would increase. To ease your load, you may think of getting help by hiring or engaging a service provider. Let’s look at the pros and cons of these two options.

Running My Business

Should You Get a Directors and Officers Insurance to Protect Your Directors?

As a founder of a company or someone who makes management decisions for the company, you should know that your personal assets are at risk if you were to be named in a lawsuit. Would this D&O Insurance help?

Tax

What Is VAT for UK Amazon Sellers?

Once you’ve crossed an annual turnover of £85,000 within the last 12 months, you must register for VAT with HM Revenue and Customs (HMRC), but what’s next? Find out how much to charge and how to reclaim VAT.

Running My Business

Skills Development Levy: How Much Must Employers Pay on Their Staff?

This article will elaborate on this less well known statutory fund that all employers need to pay on each staff they have. Find out how to pay it and more in this article.

Accounting

7 Tips for Improving the Accuracy of Your Accounting for Small Businesses in the UK

If you want to achieve better accuracy in terms of your accounting, heed these advice reviewed suggested and reviewed by our expert in-house accountants.

Running My Business

Hiring Foreign Talent: The Difference Between an Employment Pass and S Pass

Once you’ve registered your company in Singapore, and start looking to expand your operations. You might want to hire talent from overseas. Find out the difference between S-Pass and Employment so you can hire correctly and stay compliant.

Accounting

Filing Financial Statements: Does My Company Need to Do This?

The general rule is that it’s always good to prepare your financial statements but do you have to file them with ACRA too? Find out in this article.

Accounting

6 Tips to Improve Accounting Accuracy for Hong Kong Companies

Stay compliant with the Inland Revenue Department and prepare end-of-year financial statements in no time at all when you follow these tips for accounting accuracy of your company.

Running My Business

A Guide to Covid-19 Relief for UK Businesses

The announcements and updates might be overwhelming to keep up with. Start here.

Entrepreneur's Bootcamp

Just for Startups: Grants, Incentives & Tax Reliefs

Startups are at the heart of the UK economy, so know that you’ll never walk alone with the government supporting you through grants, and tax incentives.

Running My Business

From CPF to GST: Things to Check as Your Business Grows

Companies who are growing will find that they have many administrative things to do too such as calculating Skills Development Levy (SDL) and CPF Registration.

Running My Business

What You Should Know About Changing Your Company’s Registered Office Address

If you’ve ever wondered what the administrative things you need to do when you move offices, read on.

Running My Business

Getting Ready for Post-Brexit Product Liability Rules from Jan 2021

Wondering how to protect your business from product liability claims after Brexit? Find out what Chris Salmon of Quittance Legal Services has to say.

Running My Business

How Do I Withdraw My MPF Before Leaving Hong Kong?

If you will be leaving Hong Kong permanently, you can withdraw your MPF before reaching the retirement age of 65. Find out how.

Running My Business

Changing My Company’s Financial Year End

If your current financial year end date was not chosen by you, or you want to streamline the date with your parent company, you may want to read this.

Running My Business

What Business Owners Need to Know About Accounting Standards in Hong Kong

Find out more about how to standardise your accounting with Hong Kong’s Accounting Standards

Running My Business

Startup Founders Share How They Aced Their Pitch & Raised Funds

Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.

Running My Business

What To Tell Investors So They Will Fund Your Startup

Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.

Running My Business

Filing Financial Statements in XBRL: Does My Company Need to Do This?

Not all incorporated companies have to file financial statements. Not all need to file in the Full or Simple XBRL template. Find out if you have to

Running My Business

Minimum Salary Raised for Employment Pass and S Pass in Sep & Dec 2020

Find out what an Employment Pass is, what an S Pass is, and what are the new rules to get one for your company’s staff

Running My Business

Profit Tax: How a Hong Kong Company Can Get An Exemption

In Hong Kong, tax exemptions are applied to profits received from offshore funds. Here’s how to apply so your offshore company can benefit.

Running My Business

Is Remitting through Banks the Best Way to Transfer Money?

So you’re remitting or transferring money? Ever thought of finding a cheaper and simpler way compared to using the banks’ service? Read on here.

Secretary

Filing Your Annual Return in Hong Kong: A Quick Guide

Want to learn more about company annual return filing to Companies Registry in Hong Kong? Let's get you familiar with all the important details.

Running My Business

What You Need to Know to Deregister Your Hong Kong Company

We take you through the requirements, process, and what you can expect when you wish to deregister your company in Hong Kong.

Accounting

A New Business Owner’s Guide to a Company Audit in Hong Kong

A company audit assures that all the information in your businesses financial report is fair, accurate and compliant. So you’re a new business owner in Hong Kong facing your first company audit, this article is here to guide you through the process.

Running My Business

All You Need to Know About Appointing a Data Protection Officer For Your Company

Are you ready to select a Data Protection Officer to comply with Singapore’s Personal Data Protection Act? We’ll take you through the importance of choosing one, and tips to select the best person for the job.

Running My Business

How Entrepreneurs in Singapore can Pay Less Tax Legally

Did you know that you can reduce your company’s taxable income and pay less tax to IRAS by writing off some of your business expenses? But which expenses can a company deduct from its income? We break it down for you.

Guide

How Saying “No” Can Become Your Superpower in Every Negotiation

Compromise ruins negotiations. The win-win approach ruins negotiations. What doesn’t? Saying “no” whenever it needs to be said. This is the essence of Jim Camp’s theory. The 4 rules he put forward will help you feel confident and seize opportunities inside and outside the conference room

Entrepreneur's Bootcamp

Understanding Singapore Business Insurance

Business is fraught with dangers, and all dangers, from fires to lawsuits, can lead to a financial disaster. You can’t guarantee bad things won’t happen to you, but you can minimize the damage — with the right insurance policy.

Running My Business

Tools to Keep Track of Your Startup Finances: P&L and Cash Flow

Running out of cash is a Number 2 reason for startup failures. So how to avoid cash disappearing into the void? Even if you are bad with numbers and find mathematics exhausting, you can use two simple tools to organise your finances: P&L and Cash Flow statements.

Running My Business

New GST Rules to Kick off in January 2020

Beginning January 1, 2020, all Singapore companies will be charged 7% GST on the services they buy online from foreign-based providers. We explain what to do about it and how to pay the tax. Spoiler: if you are GST-registered, you will have some paperwork to do.

Running My Business

How to Register a Trade Mark in Singapore and Beyond

Registering a trade mark can be tricky. Here’s a step-by-step guide with some insights for you to make sense of the process. Bonus track: we explain how to register in Singapore and get international trade mark protection right away

Running My Business

How Charity Can Help Your Tax Bill: Charitable Deductions in Singapore

In Singapore, the “giving is receiving” principle is brought to the level of national policy: one can make a donation to a charity and claim a tax deduction — for every dollar spent you’ll be deducted 2.5 dollars off your taxable income. How cool is that?

Running My Business

Form P50: Get Your Money Back Before the End of the Tax Year

If you overpay your taxes and you don’t get any taxable income for 4 weeks, you can contact HMRC and claim your refund straight away. That is what P50 is for. We look into the process and give tips on how to make things happen.

Running My Business

What Is a Trade Mark in Singapore?

Having a nice design is not enough to make a company legally distinctive among competitors. Let’s clarify what a trade mark can be, when a company needs it, how to transform a trade mark into a valuable asset and how to use it.

Running My Business

What is Business Mileage and Who Can Claim It?

If your employees drive back and forth for business purposes, it’s a business-related expense. Thus, employees can claim petrol money back, and the firm can deduct these reimbursements from its taxable income. In the article below, we break down the latter — the so-called business mileage claim.

Running My Business

How to Verify a Company in Singapore

When you find a new partner or a new client, you may want to check the counterparty's reliability. Luckily, there’s a tool to verify companies that small and medium-sized businesses can use for free. Let’s take a closer look at it.

Running My Business

VAT Returns and Making Tax Digital (MTD) in the UK

VAT returns in the UK have been moved online — from 2019, Making Tax Digital system is in force for it. We explain how to deal with it and what the deadlines are.

Running My Business

Oops, I’ve Overpaid an Employee

On a settlement day you understand that you paid too much to one of your employees last month. Or the employee comes to you and awkwardly says that they have been receiving way more money than the employment contract requires. How to solve any overpayment? Here are the answers.

Running My Business

All You Need to Know About IRAS (Inland Revenue Authority of Singapore)

Top Singaporean tax body — Inland Revenue Authority (or IRAS) deals with collecting taxes and helping out the government with any tax matters. Osome guides you through its functions and structure.

Payroll

P11D Form: All You Need to Know If You End up Googling It

The P11D form is a part of the UK payroll system that covers the benefits an employee gets. How and when to fill in the form, what the deadlines are and how to avoid any fines — Osome is here to guide you through all of it.

Payroll

P60 Form: What Is It and How to Deal with It?

The P60 form is a part of the UK payroll system that features tax payments and National Insurance contributions of a certain employee. We look deeper into the nature of the document.

Running My Business

What Are E-signature and Digital Signature and How Do They Differ?

Many businessmen live with reams of papers all over the office — although they don’t have to. In Singapore, most documents can be signed on the computer, which is just as legal.

Growth

What Investors Want to Hear at Your Pitch

Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.

Running My Business

How to Set up Alipay & WeChat Pay for Your Business in Singapore?

If you have clients from mainland China, offering them the preferred payment options like WeChat Pay and Alipay is a way to boost your business. The Chinese visiting your website or your offline shop in Singapore will have fewer problems paying and are likely to buy more.

Secretary

How Does ACRA's BizFile Work in Singapore?

As a Singapore entrepreneur, you, or more likely, your Corporate secretary, are going to interact with Bizfile regularly. Residents can access the directory themselves while foreigners need to hire an agent to do that for them. Here are some of the major activities your business might need

Secretary

How not to Hold Annual General Meetings

Annual General Meetings are important. Firstly, they are compulsory. Secondly, vital subjects are discussed there: during AGMs, shareholders approve financial statements. Without the shareholders’ approval, your business can’t meet the filing requirements.

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