Growth Strategies for e-Commerce Brands and Digital Startups

4 Ways to Reduce Your Tax Burden in Singapore

Singapore has a reputation as a business-friendly country. It offers companies a competitive corporate tax rate, tax reliefs, tax incentives, and tax rebates. These measures fall under the jurisdiction of the Inland Revenue Authority of Singapore (IRAS) and are designed to encourage economic growth and development in the country.

The incentives and rebates offered by the IRAS can help businesses save money and make it easier for them to compete internationally. If you are looking to incorporate in Singapore, incentives like these could help you reduce your tax burden and give your businesses a jumpstart as you get established and start generating profits. When applying for the various types of relief offered for businesses operating in Singapore remember to:

Carefully review the eligibility requirements
Determine what steps you need to take to claim it.
Be aware of deadlines for claiming tax reliefs and incentives.

Additionally, we recommend speaking with a tax professional or contacting the IRAS if you have difficulties or questions when applying for any of these incentives. Consulting with a tax professional helps you not only to understand the rules and requirements for the incentives you are currently applying to, but they can also help to ensure that you are taking advantage of any additional tax breaks you qualify for. Below are four types of incentives Singapore offers to new companies.

Startup Tax Exemption Scheme (SUTE)

SUTE allows qualifying companies to receive an exemption of 75% toward the first SGD$100,000 of taxable income and 50% on their next SGD$100,000 after that. This exemption is only available during the first three consecutive years. If your company has been incorporated for more than three years you may instead be able eligible to receive exemptions under Singapore’s Partial Tax Exemption (PTE). This incentive offers an exemption to qualifying businesses of 75% on the first $SGD10,000 and 50% on the next SGD$190,000 after that.

Both SUTE and PTE can make a significant difference to businesses just starting out. The IRAS website provides a thorough breakdown of what businesses qualify for these incentives, how they can apply, and what benefits they can expect.

Productivity and Innovation Credit

The Productivity and Innovation Credit (PIC) scheme provides tax deductions and cash payouts for businesses that invest in productivity-enhancing activities such as training, research and development, and automation. A 400% tax deduction (or allowance) is granted to these businesses: for every SGD$1 spent on eligible activities, the business can claim a SGD$4 credit against their tax liability. Examples of qualifying expenditures include: the purchase of equipment, training, and research and development (R&D) activities. The PIC scheme will be available until YA 2025.

Sector-specific Incentives

Several tax incentives are offered by the government to encourage businesses to invest in specific sectors, for example, research and development, healthcare, and financial services. There are also incentives designed to encourage businesses to adopt certain practices, or to locate their operations in certain areas of the country. These types of incentives can include tax deductions, exemptions, or allowances for companies that meet certain criteria.

The Development and Expansion Incentive (DEI) is one example of a tax incentive that encourages businesses to expand operations in Singapore. The DEI provides a partial exemption of corporate income tax for companies that have made significant investments expanding their operations here.

Examples of sector-specific incentives include he Energy Efficiency Fund for businesses that adopt energy-efficient technologies, or the Experience Step-Up Fund (ESF) for businesses promoting tourism in Singapore.

Tax Deductions

Deductions for eligible expenses is one of the most straightforward ways to save on taxes. In Singapore, businesses can claim tax deductions for a wide range of expenses, including:

Rental of business premises
Utilities and other property-related expenses
Business travel and entertainment expenses
Professional fees and subscriptions
Research and development costs

To claim tax deductions, businesses must keep detailed records of their eligible expenses, including receipts and invoices. Review the list of eligible expenses regularly to make sure you don’t miss out on any deductions.

Tax Obligations

When taking advantage of tax reliefs and incentives, it is also important to ensure that your business complies with its tax obligations in Singapore.

File tax returns, be accurate and timely
Make tax payments on time
Maintain accurate and up-to-date records of your transactions.

Failure to meet these obligations can result in penalties and fines, so stay informed and seek advice if necessary.

Finally, it is important to note that tax reliefs and incentives in Singapore are subject to change and may be reviewed periodically. Businesses should check with the Inland Revenue Authority of Singapore (IRAS) or a tax professional to determine their eligibility for these tax breaks and to stay up to date on any changes.

Tax reliefs and incentives in Singapore can be a valuable resource for businesses. By understanding the various tax breaks available and staying informed about any updates to Singapore’s tax laws and incentives, you can take advantage of these opportunities and you’re your business a competitive edge in the global market.

How to Incorporate Your Business in Singapore in 2023

Incorporating a company in Singapore allows businesses to be established as entities and for them to operate as separate entities from their owners. There are several benefits to incorporating in Singapore, e.g., Singapore’s business -friendly laws, strong intellectual property protections, and stable political and economic conditions. Below we outline the process of incorporating a company in Singapore, provide additional details about each of these steps, and some things to consider beyond the incorporation process.

How to Incorporate a Company in Singapore

Step 1 – Choose a Business Structure:

There are three main types of entities that businesses in Singapore have the option of incorporating under: sole proprietorships, partnerships, and limited liability companies (LLCs). Each type of business structure has its own advantages and disadvantages. It is important to choose the one that best meets the needs of your business.

Sole proprietorships are the simplest and most straightforward type of business. A sole proprietorships are suitable for businesses that are owned and operated by a single individual.
Partnerships are businesses owned and operated by two or more individuals. These are suitable for businesses in which owners share the risk and responsibilities of ownership.
LLCs are more complex. In Singapore it is possible to incorporate as a Limited Liability Partnership (LLP) or a Company.
- LLPs have two types of partners: a general partner who is personally liable for the company’s debts and losses and a limited partner who has limited liability, i.e. a partner who is not personally responsible for the debts and losses of the company.
- Companies will typically be incorporated as either a Pte or Ltd. Ownership of a company is divide among its shareholders. Shareholders have limited liability and are not personally responsible for the debts incurred by the company. The tradeoff for limited liability is that shareholders do not exercise the same level of control over a company as owners in other business structures.

Step 2 – Select a Company Name:

Your company name must be entirely unique, i.e., it cannot be identical or similar to any existing company names. When choosing your name, be sure it does not infringe on any trademarks or intellectual property rights.

When deciding on a name, it is helpful to think about the nature of your business and the image that you want to project. A good company name should be memorable, descriptive, and easy to pronounce and spell. It should also be consistent with the branding and marketing strategy of your business.

Step 3 – Prepare Necessary Documents

Documents necessary for incorporation include articles of association, a memorandum of association, and a register of directors and shareholders.

Articles of association – a legal document that sets out the rules and regulations that govern the internal management of the company.
Memorandum of association – a legal document that outlines the relationship between the company and its members (i.e. the shareholders).
Register of directors and shareholders – a record of the individuals responsible for managing and owning the company.

Step 4 – File Incorporation Documents

After the incorporation documents have been prepared, they must be filed with the Accounting and Corporate Regulatory Authority (ACRA) to formally incorporate the company. The incorporation process typically takes a few days to complete.

To file the incorporation documents, you will need to submit them online through the ACRA's Business Filing and Information System (BizFile+). You will also need to pay the incorporation fee. This fee will vary depending on the type of business structure you have chosen and the size of your company.

Step 5 – Obtain Necessary Licenses and Permits

To operate legally in Singapore, certain types of businesses require additional permits and licenses. Depending on the type of business you are operating. These can include industry specific licenses, such as food and beverage or retail, or permits activity specific permits like importing and exporting goods.

To obtain the necessary licenses and permits, contact the relevant government agencies and/or departments and provide them with the required documentation. This process can take several weeks to complete, so plan ahead and allow sufficient time.

Initial Considerations

Business structure: As mentioned above, it is important to choose the right business structure for your company. This will depend on a variety of factors, including the size of your business, the nature of your operations, and your long-term goals.
Shareholders: These are the owners of the business, and as such they have certain rights and responsibilities. Carefully consider the number and types of shareholders your company will have, as well as the distribution of ownership and control.
Directors: Directors manage the business and make key decisions on behalf of the shareholders. It is important to choose directors who have the necessary skills and experience to lead your company effectively.
Capital requirements: Most business structures require a minimum amount of paid-up capital, i.e., money that has been invested in the company by the shareholders. The amount required will depend on the type of business you are operating and the size of your operations.

Ongoing Considerations

Additional financing: The required start-up capital will typically be much lower than the amount of capital your business will need going forward.
- Basic overhead costs like rent, salaries, and inventory. You will want to have sufficient capital not only to initially get secure these resources, you also want to ensure you have sufficient capital to pay these expenses during the early stage of your business.
- Capital to support growth and marketing endeavors. Financing for these types of expenses is something we specialize in providing to companies at
- Financial stability and viability. Having adequate capital can demonstrate to potential investors and partners that your company is financial stable and viable. Doing so will create new opportunities for valuable partnerships and more financing options for your company.
Location: Another important is the physical location of your business. Singapore has an efficient transportation infrastructure, making it easy to access key markets and supply chains. The country is also home to a large and skilled workforce, which can help to support the growth and development of your business.
Legal and regulatory requirements: Incorporating a company in Singapore involves complying with a range of legal and regulatory requirements. Important requirements include:
- Registering the company with the ACRA
- Obtaining necessary licenses and permits
- Complying with the requirements of the Companies Act and other relevant laws.
- Seek the advice of a legal professional to ensure that you are complying with all of the necessary requirements a business needs to meet when incorporating and operating in Singapore.

By following the steps outlined above and carefully considering additional considerations beyond incorporation, businesses can successfully incorporate in Singapore and take advantage of the country's business-friendly environment.

Write a Solid Investor Pitch Deck For Your Startup

A pitch deck is a presentation that entrepreneurs use to pitch their business idea to potential investors or partners. A pitch deck typically includes an overview of the business, a description of the product or service, and a plan for growth and profitability. It is an important tool for start-ups, as it helps to communicate the value of the business and convince investors to provide funding or support. If you are a start-up looking to create a pitch deck, there are a few key considerations to keep in mind.

Start with the problem:

The first slide of your pitch deck should introduce the problem that your business is solving. This should be a clear and concise statement that explains the pain point or need that your product or service addresses. By starting with the problem, you can immediately grab the attention of the audience and set the stage for the rest of the pitch.

Describe your solution:

Once you have introduced the problem, the next step is to describe your solution. This should include a high-level overview of your product or service, and how it addresses the problem that you have identified. You should also explain the unique value proposition of your business and how it differs from competitors.

Share your business model:

The next slide of your pitch deck should describe your business model and how you plan to generate revenue. This should include information about your target market, pricing strategy, and distribution channels. You should also outline any partnerships or collaborations that you have in place or are planning to pursue.

Discuss your team:

The team slide is an opportunity to introduce the founders and key team members of your business. You should include information about the skills and experiences of the team, and how they are uniquely qualified to execute your vision. This is also a good opportunity to highlight any notable advisors or mentors who are supporting the business.

Provide evidence of traction:

Investors want to see that your business has traction, whether it is in the form of customers, revenue, or user engagement. You should include any relevant metrics or data points that demonstrate the progress of your business to date. This could include information about the number of users, the amount of revenue generated, or the growth of your social media following.

Outline your go-to-market strategy:

Your go-to-market strategy is the plan for how you will reach and acquire customers. You should outline the specific channels and tactics that you will use to promote and sell your product or service. This could include marketing campaigns, sales efforts, or partnerships.

Share your financial projections:

Financial projections are an important part of any pitch, as they help to demonstrate the potential growth and profitability of your business. You should include a high-level overview of your financial projections, including information about your revenue and expenses. You should also include information about any capital that you have raised to date and any funding that you are seeking.

Close with a call to action:

The final slide of your pitch deck should be a call to action, in which you ask the audience for the specific action that you want them to take. This could be an invitation to invest, a request for a partnership, or a request for feedback. You should also include any relevant contact information and a summary of the key points of the pitch.

Conclusion

A pitch deck is an essential tool for start-ups that are looking to raise funding or build partnerships. By following the guidelines outlined above, you can create a compelling pitch deck that effectively communicates the value of your business and inspires investors to take action. It is important to remember, however, that a pitch deck is just one part of the pitch process, and it is important to be prepared to answer questions and engage in a dialogue with the audience. With a well-crafted pitch deck and strong presentation skills, you can increase your chances of success and take your business to the next level.

How To Be Accepted Into a Startup Incubator in Southeast Asia

Start-up incubators are programs that provide early-stage companies with resources, mentorship, and workspace to help them to get off the ground and start growing. Incubators are typically focused on a specific industry or sector and some offer funding in exchange for a small equity stake in the start-up. If you are an entrepreneur looking to enroll in an incubator program, the following steps can increase your chance of success.

Research incubators specific to your industry or location:

Identify the incubators that are relevant to your industry and location. There are many incubators to choose from; it is important to find one that aligns with your business goals and values. You can search online directories such as AngelList or Seed-DB to find incubators that align with your business based on industry or location. You can also reach out to other entrepreneurs or professionals within your industry for recommendations.

Review the application requirements:

Once you have identified incubators that you are interested in, it is important to review the application requirements and make sure that you meet the eligibility criteria. Incubators typically have specific requirements regarding the company’s stage of development, type of business, and professional team. Deadlines and application procedures may differ depending on the incubator you apply to, so it is important to carefully read the instructions and follow them to the letter.

Prepare a strong application:

A strong application is crucial for getting into a start-up incubator. Your application should clearly articulate your business idea, the problem it solves, and the value it brings to the market. You should also describe your team, your progress to date, and your plans for growth. Including a pitch deck or a video pitch with your application can help bring your business to life.

Network and seek introductions:

Incubators often receive a large number of applications, and the competition can be fierce. One way to increase your chances of acceptance is by properly leveraging your networking skills. Seek out individuals within your industry who can introduce you to people involved with the incubator. Strive to introduce yourself to incubator mentors, advisors, and alumni. Personal introductions can help give you an edge and make your application stand out.

Be persistent:

If you are not accepted into a start-up incubator on your first attempt, don't be discouraged. It is common for entrepreneurs to apply to multiple incubators before being accepted. Take the feedback that you receive and use it to improve your business and your application. With persistence and hard work, you can increase your chances of getting into a start-up incubator and taking your business to the next level.

Consider alternative options:

The purpose of an incubator is to provide businesses with experienced and professional guidance during the early stages of their development. When looking for an incubator, you should also consider other resources that can provide similar types of guidance to your company. Avenues similar to start-up incubators include:

Start-up accelerators are similar to incubators but typically with more intensive programs and shorter durations.
Co-working spaces or business accelerators provide access to resources and networking opportunities.
Mentorship or advisory services help you to develop your business and gain valuable insights and guidance.

Be prepared to give up equity:

Some start-up incubators and accelerators require entrepreneurs to give up a small equity stake in exchange for the resources and support that they provide. This can be a significant decision, as it means giving up a portion of your ownership in the company. It is important to carefully consider the terms of the equity agreement and make sure that it is fair and aligns with your long-term goals for the business.

Stay focused on your goals:

It is important to stay focused on your long-term goals and continue to work hard to develop and grow your company. Incubators and accelerators can provide valuable resources and support, but your business will not thrive on the support of an incubator alone. The success of your business will depend on your ability to execute your vision, overcome challenges, and build a strong team.

Getting accepted into a start-up incubator can be challenging, but the steps outlined above can increase your chances of getting accepted into a start-up incubator. With the support of an incubator and a strong drive and commitment to your vision, you can set yourself on a path that will take your business to the next level.

How to Write a Business Memo For Startup Investors

An investment memorandum, also known as a private placement memorandum (PPM), is a document used to provide information about an investment opportunity to potential investors. A PPM is typically used by start-ups or early-stage companies that are seeking funding from private investors, such as venture capital firms or angel investors.

A PPM is an important tool for entrepreneurs. It demonstrates the value of their business and motivates investors to provide funding. Below are the different sections you will want to include in your PPM to adequately present the information investors want to know about your business and the opportunity being offered.

Define the purpose of the memorandum: Your first step is to define the purpose of the document. The purpose should be clearly stated in the introduction of the PPM and should include information about your company, the product or service being offered, and the funding being sought.
Provide an overview of the company: Explain your company’s mission, vision, and values. You should also include information about your company’s team, business model, and progress made to date. The purpose of this section is to clarify the general direction and goals of your company.
Describe the product or service: Provide a detailed description of the product or service, as well as information about the target market and the unique value proposition of your company. You should also include any relevant market research or data points that demonstrate demand for your product or service.
Outline the funding request: Outline your funding request and the specific terms of the investment. This should include information about the amount of funding sought, the valuation of your company, and the terms of equity or debt being offered. You should also include any relevant financial projections or assumptions that support your funding request.
Describe the use of proceeds: Your description should include a detailed breakdown of the planned expenses and any milestones or benchmarks that will be achieved with the funding. The purpose of this section is to show how the funds will be used to support the growth and development of your company.
Disclose any risks: Disclose any risks or uncertainties associated with the investment. This should include any legal, financial, or operational risks that your company is facing. It is important to be transparent and honest about risks. Investors will want to understand the potential pitfalls of the investment.
Include relevant legal documents: The final section should include any relevant legal documents, for example, the articles of incorporation, company bylaws, and any relevant agreements or contracts. It is important to include these documents to provide transparency and to ensure that the investment is legally sound.

Final Thoughts

A private placement memorandum is a crucial tool for start-ups and early-stage companies that are seeking funding from private investors. By following the template above, you can create a compelling PPM that effectively communicates the value of your business and inspires investors to take action. It is important to remember that the investment memorandum is just one part of the funding process. Be prepared to answer follow-up questions and engage in dialogue with potential investors. With a well-crafted investment memorandum and strong presentation skills, you can increase your chances of success and secure the funding that you need to grow and develop your business.

An investment memorandum plays an important role for those seeking private financing. However, your business may also want to consider non-traditional investment options. Jenfi offers loans to businesses focused on growth and marketing, giving you another option for growing your business.

Your 2023 Business Metrics Glossary

Effective business management requires the ability to track, measure, and analyze key performance indicators (KPIs) that reflect the health and success of the business. It is important to have a clear understanding of the various business metrics that are relevant to your business and the specific goals that you are trying to achieve. Below we provide a concise glossary of common business metrics that every business owner should be familiar with.

Acquisition cost (CAC):

Acquisition cost (also known as customer acquisition cost) is the cost of acquiring a new customer, including marketing and sales expenses. CAC is an important metric for businesses that rely on customer acquisition to drive growth. It helps to determine the efficiency and effectiveness of marketing and sales efforts.

Churn rate:

Churn rate is the percentage of customers who cancel their subscriptions or stop using a product or service over a given period. Churn rate is an important metric for businesses that rely on recurring revenue. It reflects the ability of the business to retain long term customers.

Customer lifetime value (CLV):

Customer lifetime value (also known as lifetime customer value) is the total revenue that a customer is expected to generate over the course of their relationship with the business. CLV is an important metric for businesses that rely on customer retention, as it can show which customers have the potential to create the most long-term value for the business.

Gross margin:

Gross margin is the percentage of revenue left after the direct costs of producing a product or service have been subtracted. Gross margin is an important metric for businesses that produce and sell physical products. It measures the efficiency and profitability of the production process.

Monthly recurring revenue (MRR):

Monthly recurring revenue (also known as recurring revenue) is the monthly revenue generated from subscriptions or recurring services. MRR is important for businesses that rely on recurring revenue. This metric is used to establish the stability and predictability of a business model.

Net promoter score (NPS):

Net promoter score (also known as customer loyalty score) is a measure of customer satisfaction and loyalty. NPS is calculated by asking customers to rate their likelihood to recommend the product or service on a scale of 1-10, and then dividing the responses into three categories: promoters (9-10), passives (7-8), and detractors (0-6). NPS is an important metric for businesses that rely on word-of-mouth marketing and customer referrals. It uses direct customer feedback to assess customer satisfaction and loyalty.

Return on investment (ROI):

Return on investment (also known as return on capital) is a measure of the profitability of an investment. ROI is calculated by dividing the net profit of an investment by its cost and expressing the result as a percentage. ROI is an important metric for businesses that are evaluating the performance of their investments. It shows how efficiently and effectively they use capital.

Traffic-to-lead ratio:

Traffic-to-lead ratio is the ratio of website visitors to leads generated. Traffic-to-lead ratio is an important metric for businesses that use their website as a marketing and lead generation tool. It reflects the effectiveness of the website in converting visitors into leads.

Final Thoughts

Remember: tracking and analyzing business metrics is crucial for businesses of all sizes and across all industries. Understanding the key metrics relevant to your business can help you make informed decisions about your operations, marketing, and growth strategy. However, these metrics should not be viewed in isolation, but as part of a broader set of data and indicators. Together these will provide a holistic view of the health and success of your business. By tracking the right metrics and using them effectively, businesses can gain valuable insights and make data-driven decisions that drive growth and success.

2023 Essential Startup Glossary

Starting a business can be overwhelming, especially for those new to the world of entrepreneurship. One of the most common challenges entrepreneurs face is navigating the complex and jargon-heavy world of start-up terminology. In this article, we provide a brief glossary of common start-up terms that every entrepreneur should know.

Accelerator:

An accelerator is a program that provides start-ups with mentorship, resources, and networking opportunities to help them grow and scale their businesses. Accelerators are typically focused on a specific industry or sector, and often offer funding in exchange for a small equity stake in the start-up. In contrast to incubators, accelerators are short-term programs that support businesses at stages following the development of a minimum viable product. Acceptance into an accelerator is often more competitive than incubators.

Angel investor:

An angel investor is an individual who provides capital to start-ups in exchange for ownership equity. Angel investors are high-net-worth individuals looking to invest in early-stage companies. They typically provide mentorship and guidance to the founders.

Bootstrapping:

Bootstrapping is the process of starting and growing a business with little or no outside funding. Bootstrapping can involve using personal savings, relying on revenue generated from customers, or finding creative ways to finance the business.

Burn rate:

Burn rate is the rate at which a start-up is spending its available cash. Burn rate is an important metric for start-ups. It can be used to help manage finances and make informed decisions about how to allocate resources.

Capitalization table:

A capitalization table (or "cap table") is a spreadsheet that outlines the ownership structure of a company. A cap table includes the types and amounts of equity that have been issued to founders, investors, and employees.

Convertible Note:

A convertible note is a type of short term debt that can be converted into equity at a later date, typically when the company raises a round of funding. Convertible notes are often used by start-ups to bridge the gap between seed funding and a Series A round.

Due diligence:

Due diligence is the process of thoroughly evaluating a potential investment or business opportunity. This will include reviewing financial statements, assessing the market potential of the business, and verifying the credibility of the founders and management team.

Equity:

Equity is ownership in a company. When an investor provides capital to a start-up in exchange for equity, they become a shareholder in the company and gain partial ownership.

Exit:

An exit is an event in which an investor or founder sells their stake in a company, typically through an acquisition or initial public offering (IPO).

Incubator:

An incubator is a program that provides start-ups with resources, mentorship, and workspace to help them get off the ground. Incubators are typically focused on a specific industry or sector, and they may offer funding in exchange for a small equity stake in the start-up. In contrast to accelerators incubators are long-term programs that support startups at all stages of the development process.

Minimum viable product (MVP):

An MVP is a version of a product that has enough features to be viable for testing and validation with a small group of customers. MVPs are often used by start-ups to validate their product-market fit and gather feedback before launching a full product.

Pitch:

A pitch is a presentation that entrepreneurs use to present their business idea to investors or other potential partners. A pitch typically includes an overview of the business, a description of the product or service, and a plan for growth and profitability.

Pre-money valuation:

Pre-money valuation is the valuation of a start-up prior to raising a round of funding. Pre-money valuation is an important consideration for both entrepreneurs and investors, as it determines the amount of equity that is issued in exchange for capital.

Seed funding:

Seed funding is the first round of funding that a start-up receives. Seed funding is typically used to cover the costs of developing a prototype, conducting market research, and building a team. Seed funding can come from a variety of sources, including angel investors, venture capital firms, and crowdfunding campaigns.

Series A round:

A Series A round is the first round of institutional funding that a start-up receives. Series A rounds are typically larger than seed rounds and involve more formal terms and conditions, such as preferred stock and board seats.

Term sheet:

A term sheet is a document that outlines the terms and conditions of a potential investment. Term sheets typically include information about the amount of capital being invested, the valuation of the company, the rights and preferences of the investors, and the terms of the exit.

Venture capital (VC):

Venture capital is a type of funding that is provided to start-ups with the expectation of high returns on investment. Venture capital firms typically invest in companies that have the potential for rapid growth and a strong competitive advantage.

Female Founders: Overcome the Gender Gap & Obtain Funding

The topic of funding for female founders has gained significant traction in recent years, as the issue of gender inequality in the workplace has come to the forefront of public consciousness. While women have made progress in terms of starting businesses and securing funding, there is still a long way to go. In this article, we will discuss the challenges female founders face in terms of accessing funding, and what can be done to address this issue.

Challenges faced by female founders

Securing funding can be a daunting task for any entrepreneur. However, female founders face unique challenges during this process separate from their male counterparts. Some examples of funding challenges unique to female entrepreneurs include:

Unconscious bias on the part of investors
Underrepresentation in the investment community
Different expectations regarding qualifications
Difficulty finding mentors or advisors
Access to fewer resources

Unconscious biases and underrepresentation both lead to female founders being overlooked by investors. As a result, women often receive significantly less funding than men, even when they have similar qualifications and business ideas. The inability to receive adequate funding creates a vicious cycle as women who do not receive funding struggle to gain traction and build successful businesses, making it even harder for them to attract investment in the future.

The qualifications women need to meet when seeking funding also pose a unique barrier. Investors often place higher expectations on female entrepreneurs’ track records, i.e., the ability and extent to which they can demonstrate success or their connections in their specific industry. Meeting these expectations can be particularly challenging for women starting their first business. Women often will have not had the same opportunities as their male counterparts to build up their qualifications and experience.

These challenges can make it harder for women to succeed with startups and can contribute to the overall gender gap in terms of funding and success.

What can be done?

Increase awareness and understanding regarding the challenges women face
Increase representation of women in the investment community
Promote initiatives and programs that help female founders secure funding
Encourage individual investors to target women-led businesses when investing

The first step in addressing the challenges female founders face, is to increase awareness about these challenges. This can be done through education and training programs, media campaigns, and other channels. In order for effective action to be taken, people must first be aware of and understand the problem.

Overcoming the inequities faced by female founders requires women to be better represented in the field. The best way to do this is by directly increasing the number of women in the investment community. This can be done through initiatives that encourage more women to pursue careers in venture capital or other areas within the industry. Making women a part of investment committees and other decision-making bodies is another way to promote representation of women.

The challenges women face specific to financing and entrepreneurship can also be approached directly. There are numerous initiatives and programs specifically designed to help female founders secure funding, for example, accelerators and incubators that focus on supporting women-led businesses.

Individual investors can also help to address the issue by actively seeking out and investing in women-led businesses, either individually or as participants in funding groups. Investors can also act as advocates. Speaking out about the importance of supporting female founders, encouraging others to do the same, and working to promote diversity and inclusion within investment firms and other organizations are all actions a single person can undertake. Taking a proactive stance on these issues helps create a more encouraging environment for female founders.

Final Thoughts

In addition to the efforts describe above, it's important that the larger landscape of investment and entrepreneurship becomes more accessible for female founders. Initiatives such as mentorship programs, networking events, and other resources can help women to connect with each other and with potential investors and advisors. Providing women with the support and resources they need helps level the playing field and increases the chances of success for female-led startups.

The ability for female founders to secure funding is an important issue, and there is still a long way to go in terms of achieving gender equality for female entrepreneurs. However, by taking steps to address the challenges that women face and working towards creating a more inclusive environment, we ensure that we’re moving in the right direction.

If you're a female founder looking for financing, consider applying on the Jenfi homepage. At Jenfi, our financing offer depends on your revenue and is non-dilutive, meaning you keep all your business equity.

Complete Guide to Singapore Taxes for Startups

Singapore is known for its low corporate tax rate and business-friendly environment, both of which have helped to make it a popular destination for businesses looking to incorporate and operate in Southeast Asia. Below we provide an overview of corporate taxes in Singapore and some additional tax incentives unique to Singapore.

Corporate tax rate in Singapore

Singapore has one of the lowest corporate tax rates in the world. The corporate tax rate starts at 17% for companies with an annual taxable income below SGD 300,000 (approximately USD 222,000). This rate increases to 18% for companies with an annual taxable income of more than SGD 300,000. These low rates make Singapore one of the most attractive locations for companies in Southeast Asia.

Filing and paying corporate taxes in Singapore

Businesses operating in Singapore are required to file corporate tax returns annually. The deadline for this is typically 30 November the year after assessment is made. Corporate tax payments are required quarterly and are usually due by the end of the month following the quarter’s end. It's important businesses file returns are make payments by their deadlines. Failing to do so has the potential to result in significant fines and penalties, which can be damaging to a business's reputation and financial health.

The Inland Revenue Authority of Singapore offers a kit specifically aimed at walking start-ups through their first round of filing corporate tax returns. This is a useful tool for businesses unfamiliar with the process, and can help new companies make a smooth transition as they begin operations in Singapore.

Corporate tax exemptions and incentives

In addition to its low corporate tax rate, Singapore also offers a number of tax exemptions and incentives to businesses operating in the country.

New start-ups in Singapore may be eligible for a partial corporate tax exemption for the first three years of operation. The amount exempted is based on the company's taxable income. This incentive can help new businesses get off the ground and establish a foothold in the market.

Singapore also offers tax incentives for businesses operating in specific industries or sectors. Manufacturing, research and development, and clean technology sectors have the potential to receive additional tax exemptions or incentives.

There are also a number of tax incentive programs available to businesses looking to relocate to Singapore or expand their operations in the country. The Global Investor Program (GIP) provides tax incentives to businesses that make a significant investment in Singapore by providing recipients with permanent residency status. The GIP requires a minimum investment of $2.5 million SGD and the GIP fund must be between $30 million SGD and $150 million SGD.

Final Thoughts

The tax incentives and corporate tax rates offered by Singapore make it a particularly attractive landscape to new businesses within Southeast Asia. In summary, these include:

A corporate tax rate that starts at 17%, one of the lowest in the world
Straightforward filing schedules
Tax exemptions specific to eligible start-ups that last up to three years
Targeted incentives for growing industries like manufacturing, R&D, and clean technology.
Incentives for businesses that want to make significant investments in Singapore.

It’s important to note that Singapore’s corporate tax rate and tax incentives are not the only factors businesses should consider when deciding where to incorporate. The availability of skilled labor, access to markets, funding options, and the general business environment are all important considerations.

And if you do choose to incorporate in Singapore, here at Jenfi we have unique funding options that can help you get started or give you the boost you need to get your business to the next level.

How to Find Investors as an e-Commerce Shop

Finding investors for an e-commerce business is a challenging but often necessary task for entrepreneurs looking to grow their businesses. There are many potential sources of funding, so it's important to approach the process with a clear understanding of your business's needs and the types of investors that will help you meet them. This article provides an overview of the steps you need to take to find investors and offers some tips to help you secure the funding you need.

Step 1: Develop a Pitch

A clear and compelling pitch is one of the fundamental tools you will need for attracting the interest of potential investors. Your pitch should provide investors with an overview of your business and accurately describe your company’s unique position.

Your pitch should discuss the following aspects of your business:

product or service offered
target market
unique value proposition
your team and partners
growth potential
financial needs

A strong pitch not only explains your company’s potential and role within its market; it also incorporates the needs and goals of your target investors. To clearly understand these needs and goals, spend some time conducting market research. Your research should help you identify key trends and opportunities in the e-commerce market as well as the investment preferences and criteria of potential investors. This information will allow you to tailor your pitch in a way that shows how your business is prepared to meet the needs of both the market and your investors.

While developing your pitch, make sure you are prepared to demonstrate your business’s potential for financial return on investment and to provide evidence of its progress and potential for growth. A well-crafted pitch can help capture the attention of potential investors and set the stage for a successful funding round.

Step 2: Identify Potential Investors

Once you have developed your pitch, the next step is to identify potential investors. Some examples of funding sources for e-commerce businesses include angel investors, venture capitalists, and crowdfunding platforms.

When researching potential investors, it's important to consider their expertise and connections within the e-commerce industry. Align yourself with investors that have a track record of investing in e-commerce businesses that reflect your own business's needs and goals. An investor with a strong network and strong industry knowledge can provide valuable resources beyond their financial investment.

It's also important to consider the terms of the investment, including the valuation of your business and the percentage of equity being offered. Consulting with experienced professionals, such as lawyers and financial advisors, can help you identify potential investors.

Step 3: Contact and Connect with Investors

The next step is to reach out and make a connection. This can be done through networking events, online platforms, or introductions made through mutual connections. It's important to be professional and persistent in your outreach efforts, as it can take time to secure a meeting with a potential investor.

Once you have scheduled a meeting, be prepared to discuss your business in detail and answer any questions that may arise. Remember that you want to develop a strong professional relationship with anyone who chooses to invest in your business, and the key element for such a relationship is trust.

To foster trust between you and potential investors:

Show that you are committed to your business and that you have the skills and expertise to succeed.
Be transparent about your financials, operations, and business model.
Be open to feedback and suggestions from investors.

A meeting with an investor is also the time to negotiate the terms of the investment. As part of these negotiations, you will want to discuss the valuation of your business, the percentage of equity being offered, and the terms of the investment agreement. It's important to approach these negotiations with a clear understanding of your business's needs and goals and to be willing to compromise in order to reach a mutually beneficial agreement. Compromise, openness, and trust all help to build a strong relationship with investors who in turn can provide the support you need to grow your business.

Final Thoughts

Another option to take into consideration is whether to seek funding beyond traditional investors and financing services. Jenfi offers an alternative to traditional structures. Jenfi financing is non-dilutive and flexible, meaning that your payment fluctuates depending on your revenue. If you have a low-revenue month, you'll see your repayment rate drop. If you're interested in learning more just visit the Jenfi homepage here and apply for a loan.

Whatever route you take, securing funds is an important step for entrepreneurs in the process of growing their businesses. Developing a clear and compelling pitch, identifying potential investors, and building a relationship of trust, are fundamental steps to securing the funding you need to see your business grow.

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Outline your go-to-market strategy:

Share your financial projections:

Close with a call to action:

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