As Team Talenox approaches the end of a very busy 2017, we’ve been very honoured and grateful to have been featured in the Singapore Startup Stack list, which is the result of a survey conducted by online payment merchant Stripe, along with SeedPlus, Jungle Ventures, Golden Gate Ventures, General Assembly and 500 Startups.
The Singapore Startup Stack – the backbone of the entire industry
The Singapore Startup Stack is a collection of the most used cloud-based software by local startups. This ecosystem covers all essential aspects of starting a business, from accounting to communications, as well as payroll and leave management, to name a few.
Conducted in February 2017, the survey gathered 235 responses from locals startups, with 55% coming from founders and co-founders. According to Stripe, 70% of the respondents were from early-stage startups, while 48% of them employed five or fewer staff.
Which apps made it to the list?
For accounting, the highly popular Xero and QuickBooks Online made the list, while Mailchimp and Intercom came up for the CRM (Customer Relationship Management) and Customer Support industries respectively. For HR, we were very grateful to be named alongside Google as the essential apps for small businesses in Singapore.
Why is the Startup Stack important to small businesses?
1. Fewer Teething Problems
According to the SMEs (small and medium-sized enterprises) surveyed, a staggering 97% felt that cloud tools made it easier to start a company and to run it with a small team – or no team – in Singapore.
2. Faster Global Entry
The accessibility and ubiquity of online tools helps businesses collaborate with others in countries across the globe, as well as gain an international audience, according to 94% of respondents.
3. Lower Overhead Cost
Without the need to hire accountants, HR professionals, or indeed, set up your own server to host your website, using online platforms helps cut overheads costs that would otherwise cost a bomb.
Does your company use any of the tools included in the #StartupStack? Or perhaps as a business owner you’re thinking of trying them out? Let us know how your experience has gone in the comments section!
Keen to find out more about the Singapore Startup Stack? Here are some useful links: