The sole-proprietorship of any business will make you liable for all the related risks. Being the sole owner is always beneficial if the market is running well. But if the opposite happens, then you will be in grave problem as there is none to share the account abilities. You can give serious thought to incorporating the business with some more prominent organization. The measure will surely mitigate your risks and also help you with some added advantages. You will be having the ownership of the entity separate from the shareholders. The system can be a bit complicated where you will need professional help.
Protection from liability
As the owner, you will have to incur all the debts and losses of your company. So the dissolution of the business can be a simple process but devastating for you financially. To protect yourself from such situations, you can hire the singapore corporate secretarial services. Once you incorporate the business, you will be only liable for your investment part. The amount calculation generally depends on the number of shares you are holding. There is absolutely no risk involved for any legal issues for any employee. You and your assets will be safe.
Increment in capital
The very aim of the singapore incorporation services is to attract business to your company. Once you incorporate under a big banner, customers and other business people will be curious about the company. Your company will have an immediate status upgrade which will increase the inflow of capital. The more you allure investors, the more will be your capacity to spend for the manufacturing part. Hence, there will be a significant boom in production as well as the sale of the commodity. So investing for incorporation will not seem so bad once you see the profit figures ascending quickly.