HARVEST BLOG
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Singapore Budget 2023: What do Small Businesses need to know?
This year’s Singapore Budget 2023 delivered by Finance and Deputy Prime Minister Lawrence Wong sought to provide support for opportunities in innovation and internationalisation in a post COVID-19 world. It also aims to cushion those hardest hit by inflation, protect workers, encourage families, and also introduced some taxes to cool…
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Preparing for the Singapore GST rate increase
In the 2022 budget announcement, Singapore’s Minister for Finance announced the GST rate will increase from 7% to 8% on 1 January 2023, and from 8% to 9% on 1 January 2024. This change will impact all Singapore businesses that file GST. Checklist for systems and processes - what…
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The latest lockdown grants: finding financial support for your business
It’s no surprise that the pandemic has resulted in many businesses struggling to stay afloat. Especially during the lockdown period under Covid-19 restrictions, many companies found their businesses profoundly affected. Servicing our clients over the past year has shown us the creativity and ingenuity of many founders and entrepreneurs making…
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Data, insight, action: how automation powers up your accounting processes
In 2015, an Accenture study—menacingly titled Death by Digital—predicted that 40% of transaction accounting work would be automated, even eliminated, by 2020. The paradigm shift is touted to be a game-changer for the financial industry, allowing businesses to “perform” repetitive, labour-intensive tasks with little to no human intervention. Six years…
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Future-proofing financial health with good accounting
Covid-19 has taken a toll on many businesses. Restricted opening hours, mandatory remote working, and a general downturn in the economy have made life hard for everyone, but with their relatively small size, SMEs have been hit the hardest. Not all businesses have made it through the pandemic intact; many… -
Hard finance questions you can’t answer yourself
Staying on top of your finances alone can be incredibly difficult and time-consuming, but it’s necessary for keeping your business on the right track. But while most beginning business owners have a general idea of how much cash they have in the bank, many of them will be unlikely to…
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How digital-first accounting firm Harvest helped Duo Studio unleash its creativity
Duo Studio is a local Singaporean agency that has dedicated itself to the art of bespoke social media content for clients. Founded by Stephanie Phua, the company delivers customised content and creative strategies, centred around a highly personal approach to content development. To date, it’s created content for brands like…
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How eco-friendly packaging company ERGO gets a business boost from cloud accounting with Harvest Accounting
ERGO (formerly Front & Center) is a Singapore-based distributor that specialises in reusable, eco-friendly consumer food packaging. The company imports world-class brands like Stasher, Bee’s Wrap and W&P Porter; distributing them to retailers in Singapore, Malaysia, Thailand, Brunei and Indonesia, while simultaneously building its own direct-to-consumer retail brand. ERGO’s founder,…
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How media and content businesses can protect their finances in a post-pandemic world
To the casual observer, it may seem that the global media industry is one of the lucky few to thrive despite the Covid-19 pandemic. With so many people following social distancing guidelines and staying at home, there has been, unsurprisingly, a massive increase in media consumption, online streaming, and social…
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How SMEs can master the art of operational finance
It’s a sad reality that many small and medium enterprises (SMEs) fail because of money problems. Specifically, many go under due to an inability to control expenses, or a lack of oversight on just how much revenue is being generated and whether this is enough to cover expenses. In Singapore—where…