Category Startup Biz

5 Tips For Starting an Online Business

If you are starting an online business, there are now more tools and resources at your disposal than ever before. If you want to succeed, however, you have to begin with a solid foundation. Here are some important preparatory steps that will help make your new enterprise profitable.

 

1. Register Your Business

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The precise steps for registering a business depend on your location. You should, however, make sure that you thoroughly research the legalities about the type of business you’re starting. You should also decide what kind of status is most appropriate for your enterprise. For example, you may want to look into company incorporation for your business. If necessary, consult with a business solicitor to help you set everything up properly.

 

2. Get a Domain and Web Hosting

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No matter what kind of business you are starting, you will be needing a website. The first step is to register a domain. This gives you a unique online identity. Some web hosting services include domain registration for the first year of hosting. There are many good web hosting companies. As long as you choose one that has a good reputation and offers a variety of business friendly features, you will be able to build a quality website. Most web hosts have website building tools that anyone can work with, even without a technical background.

 

3. Set Up Your Office

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Whether you are going to be setting up your business at home or renting an office, you should identify where you will be doing the bulk of your work. Some people like to work on the go, taking their laptop or tablet to cafes or working on planes and commuter trains. This can be productive, but it’s also good to have a stationary place that is the headquarters of your business. This is especially important when you’re starting out. It gives you a definite place to go to get into the right mindset for work.

 

4. Create a Work Schedule

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When you start a new business, you must start thinking like an entrepreneur rather than an employee. A business owner must create his or her own schedule. You will not have a boss or manager to tell you what time to come in or what to do. This can be quite challenging for new business owners. That’s why one of the first things you should do is create a definite schedule for yourself. Keep in mind that you also have to be flexible with your schedule. You may, for example, have to communicate with customers in different time zones.

 

5. Get the Word Out

Like any type of business, an online business must be promoted. Whether you are selling physical or digital products or marketing some type of service, you should research the most effective ways to publicize your business. Some of the strategies you can employ include:

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  • Social Media -Set up business pages on Facebook, Twitter and LInkedIn. You may also want to utilize other social sites as well. If you are selling anything where images are important, Pinterest and Instagram can be very useful.
  • Press Releases -You can promote any newsworthy events regarding your business by sending out press releases. There are now online distribution services that allow you to do this for a reasonable fee.
  • Offline Networking -Don’t overlook chances to network offline. This includes traditional tactics such as attending local business events and seminars and handing out business cards. Giving local talks and presentations is another way to get attention for your business.

Start an Email List -An email list or newsletter gives you a way to stay in touch with your customers and website visitors. Have an opt-in form on your website and send out mailings regularly.

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Trends in Venture Capital in 2013

The business of venture capitalists requires them to predict the future. The most successful VCs are those who can forecast trends. They follow consumer buying patterns and behavior and are continually looking for the newest, most innovative technologies to invest in. Venture capitalists have a wide range of predictions for the year in VC. Below are some of the predominant opinions about venture capital trends in 2013.

 

VC Goes Global

International investment continues to offer tempting opportunities for venture capitalists in 2013. The market for emerging overseas startups is still fresh and unpredictable. VCs have the chance to grab intriguing deals at lower valuations than is likely in the U.S. Asia, particularly China and India, are among the most active frontier markets, offering extraordinary ground-floor opportunities for savvy investors. Venture capitalists willing to take the time and effort to deal with the legal and financial complexities of international investment are in for some exciting times, visit China Sonangol for more case studies.

 

High-Tech is Still Hot

High-tech, especially cloud storage, data analytics and healthcare IT will be big news in 2013. Overall, confidence in tech is high, and VCs are looking to new innovations to fuel growth in 2013. Big data, robotics, space exploration and other emerging technologies could lead to even more exciting investment opportunities in the coming year.

 

Social Media is Big and So is E-Commerce

Social media companies continue to be popular venture investment targets. Social networking sites tend to have high profit potential because their business model so readily allows marketing to large numbers of people. For a company, this means that Instead of trying to attract potential customers to its site, its customer pool is already gathered in one place, virtually speaking. All an advertiser has to do is get the message in front of them.

E-commerce is also hot since technology has improved companies’ ability to track customers, understand their needs and preferences and maximize marketing and advertising budgets. A subset of e-commerce, subscription e-commerce – where companies charge customers a fee to receive monthly deliveries of products – offers intriguing new possibilities as well.

 

venture capital infographic

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What Are Private Limited Companies In Singapore?

Opening a new business in Singapore can have several business structures. One of these business formations is a private limited company. This type of business has limited liability that extends only to the amount of funding that has originally been invested in the company. The debts of the new business are not the responsibility of the shareholders or owners. The new company is its own legal entity, and the company is registered through a series of transactions with the local business authorities. There are certain steps that are standard for any new company that wishes to do business in Singapore, and these steps are the following:

 

Step One: The Company Name Registration

The company name registration is the first step. This begins the formation of a new company in Singapore. The name needs to be unique, and it is checked against the other company names that have already been registered. This name check usually takes around an hour unless there are additional government requirements. Additional requirements are needed in certain industries that include the following:

✔ banking,

✔ finance,

✔ law, and

✔ media.

These industries have their own regulation agencies that need to approve a new company coming to Singapore. The businesses in the more regulated industries may have a delay in approval depending on the requirements of each authoritative agency.

 

Bizfile - Singapore ACRA's one-stop business services portal

Bizfile – Singapore ACRA’s one-stop business services portal

 

 

Step Two: Registration Process

The completed registration process for a private limited company in Singapore has additional documents that are necessary. These company documents can be sent in by an appointed company registrar or registration agent. Documents needed can include previous company names, the company creation date, the principal activities of the business, any bank accounts that the company owns, and the registered address of the company.

 

Step Three: Completing the Registration

A private limited company in Singapore is one with a nominee director and secretary. The nominee director has certain administrative duties that are critical for each new business. The secretary is the company officer who files the annual reports for the business and any other important documentation. A registration company can help with several of these critical duties, as well.

 

Step Four: Additional Details

A private limited company has limited liability for the share holders of the business. There are additional tax benefits allowed within this jurisdiction for business entities as well. Interest rates gained on company investment accounts tend to be higher within Singapore. Creating a business outside of a parent country can create wealth diversification, for example.

A business developed outside of a national country can allow a greater privacy for the funding accounts and for the business income. This type of private wealth diversity can allow for account protection if the parent country has certain risks of instability. Privacy is another critical factor to consider.

 

Summary

Limited liability companies in Singapore are the most common form of business structure in this country. Visit www.company-registration.sg to begin a new company registration.

Are You A Foreign Entrepreneur? See How to Start a Business in Singapore for Foreigners

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