Starting an accounting business in Singapore can be a lucrative and rewarding career move. Here are 7 reasons why you should consider it:
Strong demand for accounting services: Singapore has a strong economy and a thriving business community, which means there is always a demand for accounting services. As businesses grow and expand, they need support with financial management, tax planning, and compliance.
Positive employment outlook: The accounting profession is expected to see strong job growth in Singapore in the coming years. The country’s Ministry of Manpower projects that the number of jobs in the accounting and auditing sector will increase by 2.4% per year through 2023.
Attractive earning potential: Accountants in Singapore earn a competitive salary, with the median monthly income for those with a degree being SGD $5,000 per month. With experience, it is possible to earn even more.
Wide range of clients: As an accounting business owner, you can choose to work with a diverse range of clients, including small businesses, startups, freelancers, and larger corporations. This allows you to tailor your services to meet the specific needs of your clients and build a diverse portfolio.
Opportunity to specialize: Within the accounting field, there are many areas of specialization, such as tax accounting, forensic accounting, and financial planning. As a business owner, you have the flexibility to focus on the areas that interest you most and build your expertise.
Supportive government policies: The Singapore government is supportive of small businesses and has implemented a range of policies to help them succeed. These include funding schemes, business development grants, and tax incentives.
Corporate service provider options: If you prefer not to start a business from scratch, you can consider a corporate service provider like 3E Accounting Pte Ltd. This company offers accounting firm franchise opportunity, which can be a great way to get started in the industry with the support of an established team.
Starting an accounting business in Singapore offers a range of benefits, including strong demand for services, a positive employment outlook, attractive earning potential, the opportunity to work with a wide range of clients, and the ability to specialize. By choosing a reputable corporate service provider like 3E Accounting Pte Ltd, you can take advantage of their established network and resources to help you succeed. As a Singapore accounting firm, they understand the local market and can provide valuable guidance and support as you grow your business.