The year ahead will undoubtedly involve a lot of change and uncertainty for Singapore, but how can businesses prepare? They will need to closely track the trends to stay ahead of changes in industry, regulation and policy. Here are five accounting and compliance trends that we think will influence the business environment this year.
Budget 2020: Government ramps up digital push for local companies
Singapore Budget 2020, revealed in February, is a much-needed boost for local businesses. The government is setting aside a whopping S$8.3 billion to help them transform and grow, with an emphasis on enhancing digital connectivity. For those businesses that want to digitise their operations, such as accounting, there’s no better time than now, given initiatives like the Enterprise Grow package.
With this package, businesses can now take advantage of the GoBusiness platform. The platform is a single touchpoint for them to apply for licenses quickly with