Purchase ACRA Business Profile: 10,000 Essential Stats

Executive Summary

The Accounting and Corporate Regulatory Authority (ACRA) is the national regulatory body for business registration and regulation in Singapore. ACRA plays a vital role in promoting corporate governance, transparency, and business confidence in the country.

Key Statistics

• ACRA has registered over 1 million businesses in Singapore.
• In 2021, ACRA received over 200,000 new business registrations.
• The total number of active businesses in Singapore as of 2022 is estimated at 400,000.
• ACRA's revenue in 2021 was S$120 million.
• ACRA has a staff strength of over 500 employees.

Services Provided by ACRA

ACRA provides a wide range of services to businesses, including:

• Business registration and incorporation
• Filing of annual returns
• Appointment of directors and officers
• Changes in company structure
• Dissolution of companies
• Intellectual property registration

ACRA's Role in Promoting Corporate Governance

ACRA plays a key role in promoting corporate governance in Singapore. The organization works to ensure that businesses comply with the relevant laws and regulations, and that they adopt sound corporate governance practices.

ACRA's corporate governance initiatives include:

• Developing and enforcing corporate governance standards
• Providing training and resources on corporate governance
• Conducting investigations into corporate misconduct
• Taking enforcement action against businesses that violate corporate governance laws

ACRA's Role in Promoting Transparency

ACRA plays a vital role in promoting transparency in Singapore. The organization makes information about businesses publicly available, which helps to build trust in the business community.

ACRA's transparency initiatives include:

• Maintaining a public register of companies
• Making financial statements and other documents publicly available
• Providing access to information on directors and officers
• Requiring businesses to disclose their beneficial owners

ACRA's Role in Promoting Business Confidence

ACRA plays a key role in promoting business confidence in Singapore. The organization's work helps to create a level playing field for businesses, and it protects the rights of investors and consumers.

ACRA's business confidence initiatives include:

• Enforcing fair competition laws
• Protecting intellectual property rights
• Resolving business disputes
• Promoting consumer protection

Key Challenges Facing ACRA

ACRA faces a number of challenges, including:

• The need to keep pace with the changing business landscape
• The need to enforce corporate governance laws effectively
• The need to protect the rights of investors and consumers
• The need to maintain a high level of public confidence

Strategies for the Future

ACRA has developed a number of strategies to address the challenges it faces. These strategies include:

• Investing in technology to improve efficiency and effectiveness
• Developing new programs and initiatives to promote corporate governance
• Strengthening enforcement of corporate governance laws
• Enhancing consumer protection measures
• Building public awareness of ACRA's role

Conclusion

ACRA is a vital organization that plays a key role in promoting corporate governance, transparency, and business confidence in Singapore. The organization faces a number of challenges, but it has developed a number of strategies to address these challenges.

10 Key Advantages of Purchasing an ACRA Business Profile

1. Get access to comprehensive business information. An ACRA business profile provides you with a wealth of information about a company, including its financial statements, director information, and corporate structure.
2. Make informed decisions about potential partners or investments. By using an ACRA business profile, you can quickly and easily assess the financial health and stability of a company before making a decision about whether to do business with them.
3. Identify potential risks and opportunities. By understanding a company's financial performance, ownership structure, and business strategy, you can identify potential risks and opportunities that may not be apparent from other sources of information.
4. Stay up-to-date on the latest business developments. ACRA business profiles are updated regularly, so you can stay up-to-date on the latest changes in a company's financial performance, ownership structure, and business strategy.
5. Benchmark your performance against competitors. By comparing your ACRA business profile to those of similar companies, you can identify areas where you can improve your own performance.
6. Impress clients and investors. By providing potential clients and investors with an ACRA business profile, you can demonstrate your transparency and credibility.
7. Save time and money. By using an ACRA business profile, you can avoid the time and expense of conducting your own due diligence.
8. Get peace of mind. By using an ACRA business profile, you can get peace of mind knowing that you have made a well-informed decision about a potential partner or investment.
9. Avoid costly mistakes. By using an ACRA business profile, you can avoid costly mistakes that could damage your business.
10. Make better business decisions. By using an ACRA business profile, you can make better business decisions that will lead to improved financial performance.

How to Purchase an ACRA Business Profile

To purchase an ACRA business profile, you will need to visit the ACRA website and create an account. Once you have created an account, you will be able to search for the company you are interested in and purchase a profile.

Pricing

The cost of an ACRA business profile varies depending on the size and complexity of the company. The basic fee for a profile is S$15.00.

Effective Strategies for Maximizing the Value of an ACRA Business Profile

• Use the information in an ACRA business profile to make informed decisions about potential partners or investments.
• Identify potential risks and opportunities by understanding a company's financial performance, ownership structure, and business strategy.
• Stay up-to-date on the latest business developments by regularly reviewing ACRA business profiles.
• Benchmark your performance against competitors by comparing your ACRA business profile to those of similar companies.
• Impress clients and investors by providing them with an ACRA business profile.
• Save time and money by using an ACRA business profile to avoid the cost of conducting your own due diligence.
• Get peace of mind by using an ACRA business profile to make well-informed decisions about potential partners or investments.

Pros and Cons of Purchasing an ACRA Business Profile

Pros:

• Get access to comprehensive business information.
• Make informed decisions about potential partners or investments.
• Identify potential risks and opportunities.
• Stay up-to-date on the latest business developments.
• Benchmark your performance against competitors.
• Impress clients and investors.
• Save time and money.
• Get peace of mind.

Cons:

• The cost of an ACRA business profile can vary depending on the size and complexity of the company.
• ACRA business profiles are not always up-to-date.
• ACRA business profiles may not contain all of the information you need.

FAQs

1. What is an ACRA business profile?

An ACRA business profile is a comprehensive report that provides information about a company's financial performance, ownership structure, and business strategy.

2. Why should I purchase an ACRA business profile?

There are many reasons why you should purchase an ACRA business profile, including:

• To get access to comprehensive business information.
• To make informed decisions about potential partners or investments.
• To identify potential risks and opportunities.
• To stay up-to-date on the latest business developments.
• To benchmark your performance against competitors.
• To impress clients and investors.
• To save time and money.
• To get peace of mind.

3. How much does an ACRA business profile cost?

The cost of an ACRA business profile varies depending on the size and complexity of the company. The basic fee for a profile is S$15.00.

4. How can I purchase an ACRA business profile?

To purchase an ACRA business profile, you will need to visit the ACRA website and create an account. Once you have created an account, you will be able to search for the company you are interested in and purchase a profile.

5. Are ACRA business profiles up-to-date?

ACRA business profiles are updated regularly, but they may not always be up-to-date.

6. Do ACRA business profiles contain all of the information I need?

ACRA business profiles may not contain all of the information you need. If you need more information about a company, you should contact the company directly.

7. Can I use an ACRA business profile to make investment decisions?

ACRA business profiles can be a valuable tool for making investment decisions, but they should not be used as the sole basis for making investment decisions. You should always consult with a financial advisor before making any investment decisions.

8. Can I use an ACRA business profile to make lending decisions?

ACRA business profiles can be a valuable tool for making lending decisions, but they should not be used as the sole basis for making lending decisions. You should always consult with a credit analyst before making any lending decisions.

Conclusion

ACRA business profiles are a valuable tool for businesses of all sizes. By using an ACRA business profile, you can make informed decisions about potential partners or investments, identify potential risks and opportunities, and stay up-to-date on the latest business developments.

Tables

Table 1: Key Statistics

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