We understand the competition are very intensive in this challenging world today. Fast changing technology, sluggish growth economy outlook, globalisation, world political instability, etc has increased the difficulty in doing business.
For the newly incorporated company, it would be even more challenging if the company not able to focus on its core activities such as product innovation, and sales and marketing, but was distracted by the need to keep accounting records up-to-date, prepare unaudited Financial Statements compilation and prepare tax computation for compliance purposes. The consequences are the company may miss some business opportunities and could incur higher administrative and accounting cost. If the company not able to attract new client and maintain strong client base, but incur high cost of administrative and compliance, slowly the company may have to out from the business especially for those that incur loss continuously for several years without fresh capital injection.