L.H.Ong & Co https://lhongnco.com.sg Chartered Accountants of Singapore, Malaysia and United Kingdom Sun, 02 Apr 2023 00:54:43 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://lhongnco.com.sg/wp-content/uploads/2023/04/cropped-New-Project-32x32.png L.H.Ong & Co https://lhongnco.com.sg 32 32 215156339 Budget 2022 – Overview of Tax Changes https://lhongnco.com.sg/2023/04/02/budget-2022-overview-of-tax-changes/ Sun, 02 Apr 2023 00:53:24 +0000 https://lhongnco.com.sg/?p=511 budget-2022-overview-of-tax-changesDownload ]]> 511 Budget 2022 – Overview of Enterprise Disbursements https://lhongnco.com.sg/2023/04/02/budget-2022-overview-of-enterprise-disbursements/ Sun, 02 Apr 2023 00:47:56 +0000 https://lhongnco.com.sg/?p=509 Support for Workers and Businesses
SchemesSummaryFAQ/Related
Information
Progressive Wage Credit
Scheme (PWCS)
The Progressive Wage Credit Scheme (PWCS) provides transitional wage support
for employers to adjust to upcoming mandatory wage increases for lower-wage
workers covered by the Progressive Wage and Local Qualifying Salary
requirements and voluntarily raise the wages of lower-wage workers.
The Government will co-fund wage increases for eligible resident employees from
2022 to 2026. IRAS will notify eligible employers and they can expect to receive
the first payout by the 1st Quarter of 2023.
Progressive Wage
Credit Scheme
Small Business
Recovery Grant (SBRG)
The Small Business Recovery Grant (SBRG) provides one-off cash for SMEs that
have been most affected by COVID-19 restrictions over the past year, like those in
the F&B, Retail, Tourism, and Hospitality sectors.
IRAS will notify eligible firms starting in June 2022.
Small Business
Recovery Grant
Jobs Growth Incentive
(JGI)
The Progressive Wage Credit Scheme (PWCS) provides transitional wage support
for employers to adjust to upcoming mandatory wage increases for lower-wage
workers covered by the Progressive Wage and Local Qualifying Salary
requirements and voluntarily raise the wages of lower-wage workers.
The Government will co-fund wage increases of eligible resident employees from
2022 to 2026. IRAS will notify eligible employers and they can expect to receive
the first payout by the 1st Quarter of 2023.
Jobs Growth Incentive
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Purpose https://lhongnco.com.sg/2023/04/01/purpose/ Sat, 01 Apr 2023 22:11:16 +0000 https://lhongnco.com.sg/?p=496 Our purpose is to facilitate engagement across all stakeholders. We start through our own employee engagement to develop outstanding leaders who create long-term value for all stakeholders leading to sustainable, inclusive growth.

We seek to provide our employees with a sense of purpose as they see the connection between their roles and decisions made by their employers. 

In a rapidly changing and increasingly complex world, our purpose helps us navigate change better.

Every assignment we do and every question we ask helps to build confidence and trust in the working world stronger than it was before.

Your organization can also learn to embrace a purpose-driven approach to attract and retain talent, sparks innovation, navigate disruption, and yes, make a profit.

A strong working relationship between workers and their managers is essential to facilitate trust and open communication. Organize team-building events or opportunities for your teammates to get to know each other socially. Another way is to invest in the latest training programs so managers can learn more about coaching people.

Groom employees by providing challenging opportunities. Offer mentorship programs where senior leaders are paired with potential leaders.

Give your people the authority to perform their roles effectively. It creates trust and a culture where people want to take ownership of problems and their solutions.

Be open to change. Responding to change and feedback is key to an organization’s survival. What works today may not work tomorrow. Employers should listen to what their employees are telling them and consider ideas from all levels of the organization. Doing so not only makes employees feel valued, but it also creates a culture of engagement.

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Sustainability https://lhongnco.com.sg/2023/04/01/sustainability/ Sat, 01 Apr 2023 22:07:58 +0000 https://lhongnco.com.sg/?p=494 To sustain your business for the long term- the sales team

Frequently companies overlook the importance of internal transformation of their sales team. To enjoy sustainability in results, emphasis must be placed on the inner psychology of the individual. 

This is because when the inner psychology changes it provides a platform to bring about the correct outward behaviors.

Research has proved that happier people are more productive, think faster, are more creative, healthier, and more successful.

Having established that happiness is an important driver of sales, we now need to answer another question: How do we increase happiness?

There are many proven scientific strategies that people can adopt to immediately boost their happiness. 

Here are two quick strategies that can quickly increase positivity: 

1) seeing the positives 

To make a sustainable change to bring about happiness, you can try an activity called the “Three Gratitudes”.

Think of three things that happened this week that you’re grateful for. These things need not be big – just simple things in life that you are happy to have.

Research has shown that if you do this exercise every day, you will experience an increase in your own level of happiness.

2) building resilience

People in sales role dread one thing- rejection-although, logically, it is part and parcel of the job. 

Even some of the world’s most successful people, among them Walt Disney and Steve Jobs, also had their fair share of failure. What differentiates them was their ability to bounce back- their huge store of resilience.

We need to retrain our minds and think of failure, not as something to avoid but as something we can learn from. There is nothing wrong with rejection if you take it as a learning opportunity. 

Once organizations can train their salespeople to adopt such a mentality, each failure will bring them closer to success.

We are constantly learning through our own purpose journey with a focus on creating long-term, sustainable impact and benefit across all our stakeholders. We believe this makes us uniquely suited to help organizations consider a broader set of stakeholders when defining their purpose, setting their strategy, transforming their business, and measuring and reporting the value they create.

 Want to know more you can contact us

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Technology https://lhongnco.com.sg/2023/04/01/technology/ Sat, 01 Apr 2023 19:54:14 +0000 https://lhongnco.com.sg/?p=482 Technology is disrupting the economy and digitalization is increasingly becoming more important. So it’s important to possess knowledge and skills that will ensure you continue to add value to your workplace.

Here are some suggestions on how you can stay relevant:

Read blogs and articles

An easy way to stay informed about trends in your industry is by reading articles and blog posts from reputable websites.

Talk to others in the industry

Chat with fellow professionals to find out the best practices and innovations they have implemented to help them do their jobs better and see if you can adapt these to your own situation.

Go for training

Look up training courses to upgrade your skills. Skillsfuture Singapore has many programs that you can take advantage of.

Change

Mindset change is not just a matter of will alone once it has been conditioned. It needs rewiring of the synapses. 

Ways to shift your mindset and embrace change

1. Learn to meditate 

2. Make personal development a priority for yourself

3. Retrain your brain by noticing 3 positive changes per day

4. Write your post mortem

5. Focus on a long-term vision

6. Imagine the inevitable

7. Do the dirty work yourself

8. Listen to trusted outside perspectives.

9. Accept that change will happen with or without you.

10. Make yourself valuable to others. Accept first that you are worthy of a positive response. 

11. Eliminate your ‘sunk costs’ mindset.

Then you can go and look for the hardware and software for your digital transformation.

Want to know more you can contact us

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