How some SME’s are benefiting from the digital revolution, offshoring parts of their business, like the Amazon’s and Dyson’s of this world…
We’ve all read about mega companies like Dyson and Amazon moving their Head Quarters to Singapore. Zoom also just announced that they’re now setting up a Data Centre in Singapore too. But most Entrepreneurs & Founders don’t know why and how they do this.
Why is offshoring beneficial?
Firstly, these organisations benefit from advice from a global real-world perspective.
They appreciate that ALL businesses (big and small) have 5 basic functions :
- Marketing & Sales
- Operations
- HR
- Finance
- Legal & Corporate Structures
These functions are intrinsically connected throughout the value chain of a business, top-line and bottom-line growth comes from the Board (or the Boss in an SME) directing and synchronising these functions to perform. Pre-digitisation, there was no way to split these functions all over the world and control them well because there was no reliable means of instant communication. Big businesses now operate specific functions from the best location to their advantage, knowing they can control these various functions seamlessly. This capability and its benefits have never been more understood by SME’s than during COVID-19, when forced to operate differently Entrepreneurs have started to see the opportunities, but how many are now capitalising on them?
How to benefit from the digital revolution before it’s too late…
To benefit from the digital revolution, choosing the corporate, finance and employee laws that best benefit your business is a no-brainer for those that want to achieve maximum growth and achieve their wealth ambitions.
Technology isn’t the starting point; the tech is all possible. Fundamentally businesses need a robust structure and a clear set of rules to control and coordinate business activity.
You ask Founders what keeps them awake at night and answers invariably include: getting people to perform well and achieving investor targets. This is where in-house lawyers (not accountants) come in. Setting the rules that all these people and functions across disparate locations play by gives Founders the control they need to achieve their goals. These agreements support fast paced growth and protect in the event of dispute, which is inevitable. On deciding where and how disputes will be resolved, Singapore law is fast becoming the top-choice for organisations. Voted a top place to do business, Singapore’s massive infrastructure, modernisation of Alternative Dispute Resolution (ADR) laws and simplified commercial and corporate contract law offers major benefits for business owners.
Historically linked to the UK, Singapore shares British DNA in terms of language, law, finance, education and culture. But with just 17% corporation tax, no capital gains tax, no dividend tax and no inheritance tax there are some clearly important differences and advantages.
Medium sized companies are now realising that with these advancements, comes easy access to the expert legal advice needed to capitalise on the valuable benefits of the digital revolution and the faster paced growth they’ve been reaching for.
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