January 2018

Starting a business is going to be one of the most difficult, yet crucial stages of the business. If you are contemplating starting your own business, there are plenty of factors that you will need to take into consideration. Apart from this, you will need to make sure that you are aware of the risks that it will involve you having to take. If you are still sure that you want to go ahead with the business, the following guidelines may help you out.

Decide on the budget

This is going to be the first and foremost stage of running a business. You will need to make sure that you have the right amount of funding to get through the key financial hurdles that you will have to take when starting a business. These will include everything from the premises, such as getting a serviced office, to everything else that you will need to run the business as well. You will also need to factor in all the other expenditure such as employee wages and any software or tools that you will require to run the business.

Find out how you can cut costs

Being able to cut costs on certain areas of the business will go a long way in helping you with allocating your budget elsewhere. This will also help you with saving on some of the capital funding which could prove to be useful later. One of the primary areas that you can cut costs is to automate certain tasks, which would thereby minimize the staff requirement. This could involve having to get a software or even computerizing certain tasks. However, there are certain tasks which are better suited for being done manually, so you will need to identify these.

Research on the legal aspects

There are many legal requirements that you will have to abide by when running a business. These will differ from country to country, however, there will be a few laws that will be common to most countries. The laws may vary, depending on the type of business you are running and the nature of it. For instance, if you are only planning on having a virtual office, then this may not be subjected to some of the tax requirements that you would get for having physical premises for running the business. Hiring a lawyer for the business will be a clever idea, especially in the long run. If you are interested about virtual office you can visit this website http://www.centennial.com.sg/voffice.html.

These three guidelines should help you out with starting your new business. Always remember that starting a business does involve a significant amount of risk, so you will need to be prepared for any losses.

When organizing an event, you need to pay attention to many details. Out of these, the location takes the most amount of funds and hence the decision needs to be taken wisely. You have the complete freedom to compare each option and select the best so do not rush. So here are some of the factors you can consider before selecting one.

  1. Location

The location is one of the first things you’ll consider. If you are planning a local event, select a place not far from the guests’ homes or offices. If there are guests travelling from out of town, booking a venue that is closer to the airport or train station or the hotel they are staying at, would be very convenient. Also consider traffic conditions as it is a major problem with cities. An outstation event maybe taken in a much calmer environment, however you need to ensure that it is easily accessible. If not, provide a shuttle bus for your guests. The location will also depend on the type of event. For example, a sea themed wedding will be taken on the beach while a formal conference will be taken in a banquet hall.

  1. Facilities provided

Some venues provide you with catering in Singapore, decoration, clean-up and other services. A venue that provides all these is great. If not, you will have to hire outsiders to get it done. You need to check on the food the venue provides or if they don’t, they might have a few partnerships with food providers too. If that doesn’t work, you can bring your own people in. Most venues provide tables, chairs, table covers etc. however there could be ones that don’t. You will also have to find a few volunteers or set up a cleaning team for after the event if so. Talk to the managers and get a clear idea of what facilities are provided and what are not.

  1. Cost

The more exotic the place, the more it costs. Well, if you have high end guests, you need to book a place of that status. However, it doesn’t mean you can’t cut down some costs. Negotiate a package deal with the venue that includes décor, sounds, caterer services etc. so that you have to pay a lower price. Also, there could be discounts for credit cards and even seasonal discounts. Do not hesitate to grab them. Be sure of the number of guests attending the event as even one less food plate can save you a lot.

  1. Parking

One of the biggest problems with city venues is lack of parking. The traffic filled streets make t impossible to park outside and hence you need to ensure the venue has parking space for all your guests. If not, hire an adjacent parking lot.