{"id":42680,"date":"2020-01-15T11:33:39","date_gmt":"2020-01-15T03:33:39","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?page_id=42680"},"modified":"2026-05-18T18:38:10","modified_gmt":"2026-05-18T10:38:10","slug":"entrepreneurship","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/","title":{"rendered":"Entrepreneurship"},"content":{"rendered":"<div class=\"wpb-content-wrapper\" id=\"wpb-content-root\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<h2>What is Entrepreneurship?<\/h2>\n<p>[\/vc_column_text][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-42829\" title=\"What is Entrepreneurship?\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/01\/photo-singapore-what-is-entrepreneurship-820x250-1.jpg\" alt=\"What is Entrepreneurship?\" width=\"820\" height=\"250\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/01\/photo-singapore-what-is-entrepreneurship-820x250-1.jpg 820w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/01\/photo-singapore-what-is-entrepreneurship-820x250-1-300x91.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/01\/photo-singapore-what-is-entrepreneurship-820x250-1-768x234.jpg 768w\" sizes=\"auto, (max-width: 820px) 100vw, 820px\" \/><\/p>\n<p>The act of entrepreneurship is creating a new business while developing and scaling it up until profit is generated. It typically involves a flexible approach whereby entrepreneurs take their career and vision into their own hands and innovate new ways of selling a service, product, or procedure.<\/p>\n<p>Most entrepreneurs will have these personality traits:<\/p>\n<ul>\n<li><strong>Autonomous:<\/strong> They set their own goals and have full control their own progress while running their businesses based on how they see fit<\/li>\n<\/ul>\n<ul>\n<li><strong>Purposeful:<\/strong> They have clear purpose in what they want to accomplish and are motivated to work hard to make that happen<\/li>\n<\/ul>\n<ul>\n<li><strong>Flexible:<\/strong> They can adapt to situations easily and quickly without the traditional constraints of a rigid corporate culture<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h3>Stages of Business Growth<\/h3>\n<p>[\/vc_column_text][vc_column_text]Companies generally go through three phases of growth:<\/p>\n<ol>\n<li><strong>Development Stage<\/strong><br \/>\nThis is also considered the start-up phase where the business is still in infancy, or may not have even been <a title=\"Singapore Company Setup\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/company-setup\/\">incorporated<\/a> The business idea is developed and tested for viability before the first version is launched. Feedback is used to further improve the product or service.<\/li>\n<li><strong>Growth Phase<\/strong><br \/>\nThe growth phase sees the business idea succeed in gaining recognition and generating rapid sales income and an inflow of new customers. The business will also become profitable at this stage while <a title=\"Business Advisory Services in Singapore\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/business-advisory\/\">expanding<\/a> in size.<\/li>\n<li><strong>Maturity Phase<\/strong><br \/>\nAfter a period of growth, the business starts to stabilize and so do profit and sales figures. Growth rates start to slow and entrepreneurs face the decision of extending their business life cycle by pushing for further expansion in <a title=\"Other Jurisdictions Setup in Singapore\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/other-jurisdictions-setup\/\">emerging markets<\/a> and investing in new technologies. Alternatively, this could also be the stage that the entrepreneur decides to exit through a <a title=\"Corporate M&amp;A Advisory Service\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/business-advisory\/corporate-ma-merger-and-acquisition-advisory-services\/\">merger or acquisition<\/a>.<\/li>\n<\/ol>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h3>Start-ups Survival Rate<\/h3>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]A 2018 Singapore Business Review report has shown that Singaporean start-ups have a 5-year survival rate of 52.7%, which is higher than the survival rates of the United States (U.S.) and the United Kingdom (UK) at 49% and 42% respectively.<\/p>\n<p>At 3E Accounting, we want to help start-ups sustain growth, overcome obstacles and contribute in improving the overall survival rates. We believe that companies can be evergreen if they are managed properly.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Related Read:<\/strong> <a title=\"A Guide to Work Visa Options for Entrepreneurs in Singapore\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/blog\/a-comprehensive-guide-to-work-visa-options-for-entrepreneurs-in-singapore\/\" target=\"_blank\" rel=\"noopener\">A Guide to Work Visa Options for Entrepreneurs in Singapore<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<h2>More Resources About Entrepreneurship<\/h2>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-44133 aligncenter\" title=\"Assembling Your All-stars Team, Tips to Know\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/02\/photo-assembling-your-all-stars-team-tips-to-know-300x225-1.jpg\" alt=\"Assembling Your All-stars Team, Tips to Know\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Assembling Your All-stars Team, Tips to Know<\/h3>\n<p>Behind each successful startup is an all-star team, collectively working towards the same goal. Having a competent and synergized team empowers your company to perform more effectively in the market. Hence, selecting the appropriate all-star team is critical for survival and growth. <a title=\"Assembling Your All-stars Team, Tips to Know\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/assembling-your-all-stars-team-tips-to-know\/\">Read more about Assembling Your All-stars Team, Tips to Know<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-44729 size-full\" title=\"Making the Transition Into Entrepreneurship\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/02\/photo-making-the-transition-into-entrepreneurship-300x225-1.jpg\" alt=\"Making the Transition Into Entrepreneurship\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Making the Transition Into Entrepreneurship<\/h3>\n<p>Entrepreneurship is not easy, it requires a lot of hard work and effort in order to be successful. Once you\u2019ve made your decision to be an entrepreneur, you should start your preparation for your first steps into entrepreneurship. Don\u2019t worry! We\u2019ve got you covered. <a title=\"Making the Transition Into Entrepreneurship\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/making-the-transition-into-entrepreneurship\/\">Read more about Making the Transition Into Entrepreneurship<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-45262 size-full\" title=\"Finding the Right Business Name\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/03\/photo-finding-the-right-business-name-300x225-1.jpg\" alt=\"Finding the Right Business Name\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Finding the Right Business Name<\/h3>\n<p>It is important to pick the right company name! Having a good business name not only helps draws in clients but it also contributes toward your company\u2019s branding when you are searching for potential investors. Your brand must tell an alluring story in order to draw in potential investors to want to further invest in your business. <a title=\"Finding the Right Business Name\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/finding-the-right-business-name\/\">Read more about Finding the Right Business Name<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-46259 size-medium\" title=\"Importance of a Business Plan\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/04\/photo-importance-of-a-business-plan-400x300-1-300x225.jpg\" alt=\"Importance of a Business Plan\" width=\"300\" height=\"225\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/04\/photo-importance-of-a-business-plan-400x300-1-300x225.jpg 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/04\/photo-importance-of-a-business-plan-400x300-1.jpg 400w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Importance of a Business Plan<\/h3>\n<p>A business plan clearly lays out all aspects of your company in detail. This is a crucial step in initial start of your business, annual review to keep up with changing environmental dynamics, it also helps you attract and seal the deal with potential investors. <a title=\"Importance of a Business Plan\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/importance-of-a-business-plan\/\">Read more about Importance of a Business Plan<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-46294 size-full\" title=\"Forms of Incorporation\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/04\/photo-forms-of-incorporation-300x225-1.jpg\" alt=\"Forms of Incorporation\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Forms of Incorporation<\/h3>\n<p>There are various types of incorporation. The fundamental three (3) that we\u2019ll address would be a sole proprietorship, limited liability partnership and company. The Accounting and Corporate Regulatory Authority (ACRA) is the national regulator in Singapore. The ACRA is a statutory board under the Ministry of Finance (MoF). <a title=\"Forms of Incorporation\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/forms-of-incorporation\/\">Read more about Forms of Incorporation<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-47601 size-full\" title=\"Free and Economical Tools and Resources Entrepreneurs Can Utilise\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/05\/photo-free-and-economical-tools-and-resources-entrepreneurs-can-utilise-300x225-1.jpg\" alt=\"Free and Economical Tools and Resources Entrepreneurs Can Utilise\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Free and Economical Tools and Resources Entrepreneurs Can Utilise<\/h3>\n<p>You&#8217;ve essentially set up everything in place and your start-up is up and running. But do you know that there is a way to achieve cost savings even during your setup stage? Consider automating and digitizing your procedures to help collaboration, communication, planning and productivity, and there is a wide scope of tools and resources available. <a title=\"Free and Economical Tools and Resources Entrepreneurs Can Utilise\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/free-and-economical-tools-and-resources-entrepreneurs-can-utilise\/\">Read more about Free and Economical Tools and Resources Entrepreneurs Can Utilise<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-49170 size-full\" title=\"Measuring Business Success\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/06\/photo-measuring-business-success-300x225-1.jpg\" alt=\"Measuring Business Success\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Measuring Business Success<\/h3>\n<p>Wondering how you can measure business success? Below are a few key pointers that could point you in the right direction and they are the financial success, manpower and staffing success, client satisfaction success, last but not least, branding and marketing success. <a title=\"Measuring Business Success\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/measuring-business-success\/\">Read more about Measuring Business Success<\/a>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/4&#8243;][vc_column_text]<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-49740 size-full\" title=\"Selecting the Right Funding Option, Why It is Crucial to Start-ups\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2020\/06\/photo-selecting-the-right-funding-option-why-it-is-crucial-to-start-ups-300x225-1.jpg\" alt=\"Selecting the Right Funding Option, Why It is Crucial to Start-ups\" width=\"300\" height=\"225\" \/>[\/vc_column_text][\/vc_column][vc_column width=&#8221;3\/4&#8243;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3>Selecting the Right Funding Option, Why It is Crucial to Start-ups<\/h3>\n<p>Working capital is the backbone of each company. In a perfect situation your business uses internally generated funding to meet business plans, however there are times when leveraging on external resources may be necessary. <a title=\"Selecting the Right Funding Option, Why It is Crucial to Start-ups\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/entrepreneurship\/selecting-the-right-funding-option-why-it-is-crucial-to-start-ups\/\">Read more about Selecting the Right Funding Option, Why It is Crucial to Start-ups<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] What is Entrepreneurship? [\/vc_column_text][vc_column_text] The act of entrepreneurship is creating a new business while developing and scaling it up until profit is generated. It typically involves a flexible approach whereby entrepreneurs take their career and vision into their own hands and innovate new ways of selling a service, product, or procedure. Most entrepreneurs will&hellip;<\/p>\n","protected":false},"author":22,"featured_media":79877,"parent":12,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-42680","page","type-page","status-publish","has-post-thumbnail","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/42680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=42680"}],"version-history":[{"count":5,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/42680\/revisions"}],"predecessor-version":[{"id":106162,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/42680\/revisions\/106162"}],"up":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/12"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/79877"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=42680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=42680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/tags?post=42680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}