When a Business that Li Ka Shing had Stakes in Liquidates
Sometimes we are oblivious to the brutal consequences of our decisions until it is too late. Instead of experiencing the hard knocks of the business world first-hand, we should spare ourselves from potential heart aches by learning lessons from others.
If you’re a SME in Singapore you should make a conscious effort to protect your business. The Singapore Government (and many others around the world) makes you take out an insurance policy when you renew your road tax, hire a domestic helper or own property. Why aren’t business owners required to do the same?
The simple answer is that the Government doesn’t want to make it too difficult to start a business in Singapore. But that doesn’t mean the risks aren’t there.
Bad Partnership Agreements or not having one can cost you. Singapore’s corruption-free and efficient civil service makes it widely cited as one of the easiest cities in the world to start a business. But, while it is easy to get a company started, it is also just as easy to make major mistakes right from the start. Here are the 5 mistakes commonly made by business owners when forming new companies, which may threaten their business or their families.