Setting Up a Singapore Company

The International Finance Corporation’s Ease of Doing Business 2010 listed Singapore as the leading economy in employing workers and trading across borders. Many years before globalization re-defined trading, Singapore has already displayed its business potential among the international business consortia.  

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Its strategic location, impressive infrastructure, ready access to international and domestic transportation, and natural seaport that is known to be one of the world’s largest are all poised to make Singapore the perfect destination for entrepreneurs.

Setting up a Singapore company can be accomplished in five ways, namely as a Sole Proprietorship, Partnership, Limited Liability Partnership, Limited Partnership and a new Company.

Sole Proprietorship. Regarded as the simplest form of business structure, a Sole Proprietorship has one owner, who gains full authority and control over the business’ management, profits, losses, liabilities, and assets.

It is not given recognition as a legal entity. Thus, a Sole Proprietorship enterprise cannot engage in any lawsuit whether as the plaintiff or respondent. Nor can it acquire possessions and assets as the sole proprietor retains absolute ownership.
Any profits gained while on business operations are regarded as personal income of the proprietor and are hence, subject to a personal income tax. Nonetheless, on the bright side, it exempts the owner from filing tax returns with ACRA and from conducting audits.

Partnership. Owned by more than one proprietor or a company, a Partnership in Singapore is a business firm that allows a minimum of 2 proprietors and 20 at maximum. Each partner acquires an implied power that entitles him or her to act in behalf of his or her partners.

Like the Sole Proprietorship, the Partnership is not regarded as a legal entity, and thus, accorded with its due limitations and exemptions. Nonetheless, all partners can be held liable for the loss sustained by another partner.

When it comes to profits, it follows the pattern of a Sole Proprietorship, wherein, the income forms a part of the personal income of each partner, and is therefore subjected to personal income tax.

Limited Liability Partnership. In Limited Liability Partnership, the partners are protected against personal liability for certain partnership liabilities, as far as personal assets are concerned. Nevertheless, partners are accountable for debts and losses arising from their own unwise decisions.

Considered as a legal entity, the LLP can directly sue or be sued and its business name can procure assets and properties and retain their ownership.

To form a Limited Liability Partnership in Singapore, a minimum of 2 partners is required. There is no maximum limit of maintaining partners with LLP.

When it comes to tax, each partner is taxed according to his or her share of income incurred by the LLP, if the partner is an individual. However, should the partner is another company, its income acquired from LLP is taxed at a corporate level.

Limited Partnership. To form a Limited Partnership in Singapore, there should be a minimum of two partners-one acting as a General Partner, while the other the Limited Partner. The General Partner manages the LP and features unlimited personal liability, including debts and obligations of the LP.

On the other hand, the Limited Partner is accountable within the range of his or her investments, yet, he or she enjoys the right to the cash flow of the LP.

The LP can only exist through a registration of a new Limited Partnership enterprise in Singapore. An existing business enterprise or Limited Liability Partnership cannot be converted into a Limited Partnership. Also, it is not entitled to a legal status.

When it comes to taxation, the rules applied to a Limited Liability Partnership hold true in Limited Partnership Company. Based on Chapter 50 of Companies Act of Singapore, a company is a business firm registered as Private Limited by shares.

Unlike a few business structures, the Company is recognized as a legal entity, whereby, its owners are called Shareholders; and among the Shareholders, a Resident Director is appointed as head of the company in Singapore and who is deemed to be above 21 years old from the time of his appointment and maintains a Singaporean citizenship or Permanent Residence.

Regardless of the nature of business, establishing a company in Singapore needs to consider the following rules:

* Anybody or any company can register at Company Registrar in Singapore based on the nature of the business, i.e. sole proprietorship, limited partnership.

* With the exception of a Company, all four other types of business firms must appoint at least one local manager if all proprietors and or partners do not have ordinary residence in Singapore-such as Singaporean citizenship and Singaporean Permanent Residence.

For foreigners to be appointed as the local manager or sole proprietor, an issuance of Entrepass, Employment Pass, and Dependent Pass is required.

When an entrepreneur has already decided which type of business enterprise he or she would like to engage in Singapore, the Registration of the business process shall commence.



How to Find Effective Letting Agency Fire Safety Services

Letting agency fire safety services are basically those agencies that are hired by several property owners in finding a suitable tenant for them. Besides that, these agencies also make sure that the concerned property should comply with all the fire safety guidelines as set by the government. 

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So because of their important functions there are perceived as very important agencies for the several property owners. If you happen to be a property owner and looking for one such agency then this article will be quite helpful for you. In this article we have mentioned certain important factors that you should always keep in mind to get hold of an efficient letting agency. 

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Duties before the tenancy

Before the property is handed over to the tenant the agencies should thoroughly check the safety of the different gas appliances of the property. They should make sure that the concerned property is fully complying with the latest Gas Safety Regulations that has been implemented by the government.

Similarly, the agency should also check the electrical appliances of the property before it is being handed over to the tenants. They should make sure that the electrical appliances should be safe to use and its wiring is also properly carried out.

For fire safety reason the agency should carry out the Portable Appliance Testing, also known as PAT, every year. Also they need to get the installations of the different electrical appliances of the property examined by a professional electrician after every five years to ensure that it is continuing to be safe and secure.

Prior to the tenancy, the Letting agency fire safety services should also examine the conditions and placing of the furniture of the property. They should make sure that the concerned property is completely complying with the furniture and furnishing Regulations of the country. They should make sure that the placing of the furniture in the property will not result in causing fire and will also not provide a hindrance for the people in escaping the house in the event of fire.

Checking the legality of the property

Besides checking the several fire-safety measures of the property the letting agency should also check the legality of the property. They have to ensure that the concerned property is duly registered with the local government authority and the property is managed as per the Housing Act of the government. The property owners are also expected to corporate in this regard by furnishing the right legal details of the property to the Letting agency fire safety services.


Cosmetic Dentistry and Its Different Types

Traditional dentistry deals more with proper oral hygiene and the prevention, diagnosis, and treatment of oral diseases, whereas cosmetic dentistry concentrates more on the improvement of the appearance. It commonly solves issues like crooked or chipped teeth, discoloration, or missing teeth. 

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Types of Cosmetic Dentistry Treatments:

Bite Reclamation

This treatment is done to change the vertical dimension of people whose teeth have been subjected to years of wear because of too much grinding and acid reflux. After the treatment, patients have a closed and shorter appearance in their smile and face.  

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Dental Bonding

Bonding helps improve how the teeth look if they are chipped, broken, cracked, stained, or have excess space between them. The procedure involves the application of enamel-like composite resins to the tooth’s surface, molded into shape, hardened with an ultraviolet or laser light, and then polished. The result blends naturally with the surrounding tooth structure and the rest of the teeth, improving the person’s smile.

This cosmetic dental procedure is the easiest of all and can be done with a single office visit. Dental bonding can also be used to fill small cavities or protect the exposed root of the tooth. Modern dentists also use bonding as a replacement for, or an alternative to, silver or amalgam fillings.

Dental Braces

Nowadays, both children and adults are benefiting from dental braces. Braces not only correct crooked or misshapen teeth, but can also help improve irregular bite, jaw joint disorders, or the proper positioning of the jaw.

Dental braces work by applying steady pressure to the teeth to reposition them gradually into alignment. The dentist or orthodontist uses metal, ceramic, or porcelain brackets and bonds them to your teeth. Arch wires are threaded through the brackets to guide the teeth correctly into position. Orthodontic braces are usually worn for about 1-3 years after which retainers replace the braces to hold the teeth in their new position.

Dental Bridges

Bridges are also sometimes called fixed partial dentures and are used to replace missing teeth or to close a gap between the teeth. Material used for the artificial teeth are usually made of gold, porcelain, alloys, or a combination of these materials. The procedure takes 2 visits at one hour each appointment. Bridges can last from 3-15 years if proper oral hygiene is strictly followed.

Dental Crowns

Also known as caps, crowns are placed over a damaged tooth to restore its shape, size, strength, and appearance. Crowns or caps can be made from ceramic, metal, resin, or porcelain-fused-to-metal materials and are cosmetically used to improve broken or severely stained teeth. A costly procedure, crowns are recommended only by dentists when other procedures will not produce effective results. Crowns can last from 5-15 years.


Dentures are removable artificial teeth that replace missing teeth and surrounding tissues of the teeth. There are two types of dentures, complete and partial. Partial dentures are used when there are some natural teeth remaining, while complete dentures are applied when all teeth are gone on either the top or bottom row.

Enamel Contouring and Shaping

Also known as odontoplasty, enameloplasty, stripping, sculpting, re-contouring, or contouring, this cosmetic dental procedure is applicable if you have healthy, normal teeth. It involves removing or contouring the dental enamel to change the length, position, or shape of the teeth to improve the appearance. It is used to correct minor imperfections of the teeth and the results can be seen immediately. This procedure is usually combined with bonding, teeth whitening, or veneers.


Also known as indirect fillings, these are often made from porcelain or composite materials that are used to fill tooth decay or other structural damage in the teeth. Unlike dental fillings which are molded into place immediately during your office visit, inlays and onlays have to be created in a dental laboratory first before your dentist can fit and bond them into place.

When the filling material is bonded in the center of a tooth, it is called an “inlay”; when the filling is done in one or more points in the tooth or includes the biting surface, it is called an “onlay”. This cosmetic dentistry procedure can be an alternative to crowns and can preserve healthy teeth for a long time.

Gum Grafts

Sensitivity to hot and cold might be caused by gum recession and exposure of the root of the tooth. This condition makes the teeth appear long and may subject the tooth root to decay or even bone loss. Gum grafts are a treatment that involves soft tissue grafts that can transfer healthy gum tissue to another part of the mouth to prevent or stop recession of the gums and bone loss in addition to improving the aesthetic look of the gum line.


Implants are a long-term solution to replace missing teeth and are among one of the most expensive cosmetic dentistry treatments. They are titanium artificial tooth root replacements that are inserted into the bone sockets of the missing teeth. These are a good alternative to bridges and removable dentures.

They are surgically implanted into the jawbone by an oral or maxillofacial surgeon. If bone loss occurred due to periodontal disease, the surgeon will probably have to graft a bone first to secure the implant.

There are three parts of a dental implant: titanium metal that is fused to the jawbone, an abutment that fits over the part of the implant that juts out from the gums, and a crown to provide a natural-looking appearance to the implanted tooth/teeth.

Dental Veneers

Veneers are wafer-thin tooth-colored pieces of porcelain or resin that are bonded to the surface of the teeth. This treatment is done to change the color or shape of the teeth, or to repair and correct broken, chipped, cracked, or gaps between the teeth. Veneers are also used to treat the same problems that bonding procedure addresses, and can be a least expensive alternative to crowns. This cosmetic dentistry procedure takes about 2 separate appointments. Veneers can last 15-20 years if proper care is followed.

Repairing crooked teeth

People who are possible candidate for teeth straightening are those with crooked, crowded, or tilted teeth which can trap bits of food that can lead to tooth decay and gum disease. Unlike orthodontic dentistry which uses braces to solve the problem, cosmetic teeth straightening involves giving local anesthetic to the patient, and then the dentist uses a surgical device (electrosurge unit) that utilizes heat to remove fragments of the gum. This will help shape the gum and adjust to the shape of the new veneers. The teeth are then drilled to be ready to receive the veneers, and the veneers are bonded to the tooth’s front. The surgery often takes an hour and often last between 2-5 years.

Teeth Whitening

Also called bleaching, tooth whitening has become a popular chemical procedure that many individuals undergo to remove stains, or just simply to whiten their teeth. This cosmetic dentistry treatment is one of the least expensive and simplest ways to enhance your smile and appearance.

Over time discoloration of the t00th enamel occurs due to smoking, taking certain medications, aging, or constantly drinking beverages such as tea and coffee. Although various teeth whitening options are available these days like over-the-counter products and home kits, dentist-supervised treatment is still highly recommended for the safest and most effective whitening of stained teeth. However, teeth whitening treatment is not for everyone. It is only suitable for individuals with healthy and unrestored teeth and gums.

Which procedure is best for you?

The condition of your teeth and the expected result that you want will determine which cosmetic dentistry procedure is right for you. Your dentist can answer any questions for you like what to expect through the course of treatment, what changes will look like, and what type of maintenance is required if there are any.

Cost of Cosmetic Dentistry

The costs for cosmetic dentistry differ according to the type of procedure needed by the patient. Cosmetic dentistry is usually not covered by dental insurance, but there are some dental plans that might cover part of the expenses of other procedures like crowns. Knowing the cost of a cosmetic dentistry treatment that you wish to have is very important to know beforehand.


Cosmetic dentistry is becoming more and more popular these days to improve the appearance and smiles of many individuals. With the advent of new technology, a wide array of tools and techniques are readily available to dentists to help their patients achieve the desired results.

However, before undergoing any cosmetic dentistry treatment, an individual should know first the risks and advantages in addition to what to expect during and after the procedure. It is also important to know the credibility of your dentist to perform cosmetic dentistry treatment, how much the procedure will cost and if there is any special maintenance required after the treatment.


Offshore Company Formation Can Be Hassle Free

The experts in the field have been able to give a whole package deal to start an offshore company. This has been possible after several years of research about the market by them. According to them there are websites wherein you need to register and fill in the forms with some of the details asked. Within a few days the formation of a business project that has been your dream will see the light of day.   


You will get an offshore company registered in your name with an office address from where you can start your work from day one. A phone line also would be booked and connected in your name for your immediate use with all the modern facilities available in the country.

This will be followed by an active offshore bank account which would be really necessary to have the financial transactions as soon as possible for the business to grow. As added advantage will be a debit card so that withdrawal of money becomes easy and made is possible at any time of the day or night.

If the business has to progress and continue in the modern lines, then the facility to accept the revenue on credit cards should be made possible for overseas transactions. This also is provided in the offer to receive and make payments with ease.

Technology is so useful to develop your business and without a website of your own the development of the trade cannot take place at a fast pace. Keeping this in mind, a website is also put in place and the only work left for you is to fill in the names of the products you are making and the rates at which you will be selling them.

To complete this process a high ranking SEO optimization is also made possible which will give a good position for your website in the search engines that are often used. This is required to make your business known to the world easily. Also it will bring in more business and hence more profit.

What more can you ask from a newly formed business?


Seychelles Offshore Company Safe From US Tax Havens Bill

The story “US Senate Approves Bill Targeting Offshore Tax Havens” as reported by American Banker, Accounting Today, Forbes and a host of other sites is another “Tiger without teeth” which is designed to scare people into not using a Seychelles Offshore Company as a legitimate asset protection and tax-reduction structure.  

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They report that “The legislation would give the Treasury Department new tools to crack down on foreign governments and foreign financial institutions that it concludes are impeding U.S. tax enforcement.” What the US is saying is that they will place themselves in a position to attempt to circumvent another countries laws in a further attempt to recover taxes from anyone benefiting from an Offshore Company such as a Seychelles International Business Company (IBC).   

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Have you ever stopped to ask does Barack Obama have any Offshore Companies where he places his assets? What about the people passing this weak piece of legislation? What about Mitt Romney?

Seychelles is an International Finance Centre which is currently being assessed by the OECD and continues to be rated by the OECD’s Peer Group Review Committee to ensure that Seychelles remains compliant with the international standards set by the OECD. Currently Seychelles is and has been on the OECD’s white list.

Seychelles is an Independent Republic, with a stable government, transparent laws and compliant with the OECD’s Exchange of Information for Tax Purposes. A Seychelles IBC is an International Business Company and is what the aggressive countries call an Offshore Company.

Seychelles protects its Offshore Companies with very strict legislation which is based on the very best practices of other compliant jurisdictions. Seychelles legislation in relation to the Seychelles IBC Act (IBC Act) and the Anti-Money Laundering Act (AML Act), are extremely strong in relation to the illegality of money laundering and tax avoidance, both of which are illegal in Seychelles. A Seychelles Offshore Company is a structure with the main purpose being to protect assets. These assets can take any form such as a holding company, a trading company and the list is almost unlimited, but the company cannot engage in illegal activities like pornographic sites, gambling sites and anything else that is illegal in the Seychelles. The fact that there is zero tax which is designed to bring business into the Seychelles is just a benefit to the company and makes the cost of running of the business smaller and is a very big incentive for businesses to invest in the Seychelles.

Small Island Developing States such as Seychelles have limited resources and need to attract investment from overseas. This is the function of the Seychelles International Financial Centre and Seychelles Offshore Companies.

Due to the strength of our laws and the integrity of our agencies such as the regulator, SIBA, the Financial Intelligence Unit (FIU), the Judiciary and the Ministry of Finance, the US Government cannot go on fishing expeditions such as asking any of the above authorities for all information on a particular person. The only way a foreign government can obtain information in relation to a Seychelles Offshore Company is by having a warrant issued by a Court of Law indicating a crime that has been committed or proof of activities that relate to the AML Act. This is strictly adhered to by all the above parties and so the only time aggressive countries are able to obtain information on a Seychelles Offshore Company is when they are able to prove in a court of law, that a crime has been committed or actions that are in relation to Money Laundering.

When you consider the new US bill targeting offshore tax havens and the above, you will quickly realize that these aggressive countries have no teeth to be able to force an Independent and internationally compliant country such as Seychelles, to give to them confidential information that is protected by law without court orders.

This shows that the new US Bill is yet another “Tiger without teeth”


What Does a House Painter Consider When Giving an Estimate?

An estimate is the first step for a house painter towards clear communication with your client about the painting project. The painting work comes in different sizes and shapes. The same is true for the estimations of painting. The estimates may vary in style depending on the project. A well-written quote can help you win the job and help the customer clearly understand the estimate in the scope of a house painting project. Here are some of the things a house painter may consider when giving an estimate  

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Site visit

A good house painter prefers and visits the site before starting your assessment. There may be factors that will increase the price, such as the poor condition of the walls. You will need more paint if you cover the dark walls. Several decorative walls and different colors will take longer. He may ask the customer if they just want to paint the walls or the ceiling and the doors. Moreover, the house painter will ask the clients if they will provide the paint unless they need a specific mark and if the colors should be mixed by size. Asking these questions in advance helps them to be more precise about the cost estimation. If you have no experience of hiring a house painter, you can ask your family and friends for good recommendations.  

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Paint type and quantity

The price of paint can range from $20 to $ 80 per gallon, depending on the brand and its quality. Contractors typically pay up to $ 45 per gallon, depending on the supply of paint. House painter need some materials for external coating work such as primer, masking tape, paper masking, tape, masking plastic, etc. The quantities of materials depend largely on the amount of preparation required. More preparation means more caulking and more primer. It also depends on the number of existing windows and the amount of roof and brick if you do outdoor work: more than anything else means more paper and plastic masked.

The labor required

It can be difficult to estimate the work because the elements are numerous. Several layers of paint are needed; there may be trees in the way, windows are difficult to paint, like compact windows or it is difficult to place ladders to paint the ceiling or stairs and many other things like these. A house painter will consider the labor required to perform a certain task while giving you an estimate for the painting project. He knows the skills and expertise required to perform a specific house painting task.

  There are common accidents that can cause injuries during a painting project. Hiring a professional painter will keep you away from these potential problems and you will get good results in a reasonable amount. Experienced and professional paint contractors may not offer the same price as their counterparts, but this ensures that they will offer high-quality paint that will last for years.



Information Only Door to Best Casinos Online

Information empowers. And, its power rings true in every aspect of life. As we ride what Alvin Toffler calls the Third Wave, the power of information has been unleashed like never before.  

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Living, Learning, and Playing. The order may possibly change in terms of priorities, but these three are essentially the maximum impact areas of information revolution. The age of the Internet has single-handedly changed the rules of almost every kind of activity within human realm.   

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At the end of the day, people love to play. It comes as no surprise to find that gaming has been one of the most popular activities on the Web right from the word go.

Here, it is pertinent to take a look at the way online casinos have evolved and are now emerging as one of the high growth areas of the Internet before we get on to the specifics of issue at hand.

At the risk of sounding repetitive, if one were to capture the development of online casinos in one sentence, nothing could express it better than the assertion put forward by Victor Hugo: Nothing is more powerful than an idea whose time has come.

From the first step to the present, the journey so far has been an eventful one. The domain, essentially egged on by the proliferation of Internet that lead to removal of the existing barriers in terms of laws, regulations, and geographical boundaries, has had its pitfalls.

Though gaming had been a part of the Internet since the opening of 90s, officially, the first online casino opened in 1996. This was made possible by a law passed by Antigua and Barbados in 1994, enabling them to issue gambling licenses. This development is significant because till date a large number of online casinos are using this route to acquire licenses.

The two intervening years since the passing of licensing law to placing of the first bet online are most eventful in terms of shaping up this domain. This period saw a whole lot of activity in terms of developing a better understanding of the concept by the regulators and the general users and coming up of dedicated software providers. Since the very beginning, given its nature, and its status at that point in time, online casinos have been prime targets of network crime. This crucial issue was largely resolved by emergence of Internet security firms solely catering to the unique issues faced by this segment.

And, then there were all the legal challenges. The online casino industry has crossed numerous legal barriers in its race to the present. Though some of the challenges still persist, the worst is clearly a part of the past and the industry as a concept has now taken deep roots with hundreds of virtual or online casinos.

Rising above the past issues, the industry, however, may soon be facing a new hurdle entirely of its own making, if steps are not taken to nip the issue right away. The problem of plenty– a direct outcome of the proliferation of online casinos has lead to customer service and reliability issues. How does one sift the wheat from the chaff? Or more directly, how do we draw the line between a good online casino and a bad one? Though it is not limited just to casinos online, the fact remains that this one issue has the potential of marring the reputation of the entire domain, and can end up achieving what most laws and regulations have failed to do so far.

However, it is heartening to see that the solution to this key problem lies within. This worry area can be effectively tackled only by individual customer experience combined with guidance and insight from the existing users who have had some experience (the most effective regulatory mechanism so far for the Internet users). Information obtained from primary and secondary sources remains at the core of this effort to empower users to arrive at a definite conclusion about any casino. Here are a few tips for new users that could help you have really great time online:

Experiment with multiple casinos in the beginning:

As a new user, you should have the patience to log on to different online casinos and try and rate each one on the following parameters:

1. Time taken to download a game.

2. The number and the kind of games offered.

3. Services offered.

4. Incentives such as free bonus .

5. Quality of services.

6. Payment method.

7. Software used for games and security.

Some of the crucial parameters for rating each one of the casinos:

1. Going with experience: The established online casinos such as casinos rated high at the Website firstclass-casinos are generally a better bet compared to the new ones.

2. Getting connected : Look out for a live, toll free help line number. Talk to the casino staff using the number and try to judge the quality of help.

3. Placing multiple casinos side by side : It is better to log on to a portal such as firstclass-casinos, providing access to multiple casinos, than to log on to the Website of a single casino. Apart from providing their own ratings, these portals enable you to compare multiple casinos faster and under a similar environment.

You can narrow down your choice to three to four sites after the initial work, and then proceed to look into greater details or even identify different sites for playing different games. This exercise appears time consuming, but then fruits of patience have always been sweet. Moreover, if you are a serious online player, you really don’t have too much of a choice, do you!

The author, Brian Hover, is a well- known online gambling specialist and has been lending his expertise and experience to the Internet gambling industry since 1997. Having studied the scope and potential of secure online gambling alternatives,

Before Getting Into Pointe Shoes – Improve Foot Strength

Getting into pointe shoes is very exciting to think about, when you are young and starting ballet classes, or when you are an adult ballet beginner and you harbor hopes to dance on pointe one day.   foot pampering

Begin by viewing some pictures of the foot muscles. It is helpful to be able to see these muscles, bones, ligaments and tendons, in your mind when you do exercises to strengthen your feet. It is a good idea to learn some good foot muscle exercises when you first begin ballet anyway. You will improve faster and understand ballet better.

Learning some ballet tips outside of ballet class will also help you prevent learning bad habits. A bad habit could be a slight pronation (rolling the feet inwards) of the feet. This could be caused by over-turning out the feet, in other words not supporting your turned out position by using the rotator muscles. If you understand the rotator – turnout – muscles, you will turn out the whole leg properly, and not position your feet so that they roll from the strain.

Up until perhaps the age of sixteen years old, you have soft places, or growth plates, in your bones. These soft places must be protected by you having excellent classical technique, strong feet and very strong turnout as well.

Pointe shoes should not be bought and used by dancers working alone. An experienced teacher, or a health practitioner in some cases, should give the go ahead to a dance student. Ideally three classes a week have been taken for the past year, to help you prepare to dance in toe shoes.

However, anyone can learn foot strengthening exercises, exercises to improve your ballet turnout, and other fine details of balance and basic positions. You can practice every day, just for a few minutes, to help you get ahead in your progress toward pointe training.

Doing daily exercises, along with some relaxing stretches and some foot pampering, will improve your barre work, your balance in general, and your allegro (jumping) as well.

These exercises benefit men and boys in ballet too – some even go on to buy pointe shoes for further strengthening of their feet.



Business Continuity Management for the Utility Sector – Ascent

After every natural disaster, people are deprived of basic amenities like water, food and power. On the other side of the coin, the utility industry is always at the receiving end to succumb to any type of disaster, be it man-made or natural. In this scenario, this sector needs a comprehensive business continuity management strategy to serve the people even during a crisis. 

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The services delivered by these utility companies are critical to the economic and social well-being of a society. Thus, continuity of utility sectors like Power Distribution is a critical issue to be considered by senior management and concerned authorities.  

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Business Continuity Management strategy helps you prepare for the worst. However, that worst may not happen many times. Then why do we need a separate policy and committed resources for a prophecy?

Risk Management Vs Business Continuity Management

Business continuity is an integral part of risk management. Organisations cannot ignore the possible external effect on the operations. Sometimes, the internal risks may surprise and effect both at the organisation and operational levels.

Many a times, BCM is mistaken for a Disaster recovery plan, which is confined mostly to technology and data protection. However, it is more to do with a top-to-bottom approach, where continuity management is required at every stage of various operations in an organisation.

An outage may be subsided with risk planning and emergency measures. But it is very difficult to measure to what extent this outage may percolate into multiple operations of the organisation.

Let us check some of the possible natural and man-made hazards, which may disturb the operations of utility firms, specifically power supply companies.

The possible natural and man-made hazards for power distribution firms:
• Cyclone & Flash Floods – Most of the Middle East, Malaysia, and other coastal countries are prone to tropical cyclones, which lead to flash floods. The power distribution companies from these areas may suffer from infrastructure damage, property loss and may require to relocate their operations while continuing to provide their services
• Power Outages – The generator and grid failure are often predictable outages and connected cities may go dark without power and gas supplies
• Fire – Electricity short circuits or any man-made negligence may expose the companies to fire accidents. Many vital records may be burnt and even impact their IT
• Physical & Cyber Attacks – Physical attacks are very rare. However, the utility firms are vulnerable to internal conflicts and terrorist rampage. Here, there is a probability of human and property loss to some extent.
Whereas, Cyber-attacks are inevitable due to hackers and anti-management groups. Although the data pilferage may not directly impact the power supply, but may interrupt the billing and other operations. This, in turn, may fluctuate cash flow and imbalance the balance sheets
• Pandemic – Epidemic diseases like Ebola are highly unpredictable. However, the rumours and fear may result in unfavourable incidents within the organisation.

All the above incidents may damage the organisation’s reputation, properties and data, demotivate staff and disturb the demand & supply operations.

At this juncture, any power firm is expected to perform
• Timely restoration to job
• Monitor business & operational risk
• Handle technology outages, unavailability of employees, incapacitated facilities, interrupted critical vendors
• Manage grid reliability and large number of interconnected business process supporting this goal
• Holistic approach to business resiliency and disaster recovery
• Understand the risk and impact of disruption on business processes

Now, the question is, “are you ready and equipped for any incident?”

If yes, then check whether you are able to fulfil the above parameters.

If no, then:
• Conduct some initial hierarchical board meetings
• Check the strength of internal Business Continuity Management
• Consult an external expert for Business Impact Analysis (BIAs) and
• Facilitate the internal BCM team with some test cases or simulation crisis workshops

Some of the case studies of Power distribution companies in the Middle East and other countries have reported the need for automation of Business Continuity Management. Many companies are aiming to bring all their BCM processes and records together into a centralized environment to proactively monitor and mitigate business disruption threats with a click of a button through BCM software.

This major initiative towards BCM is also a step towards being compliant with regulations issued in accordance with Section 3 Part 1 of National Emergency Crisis and Disasters Management Authority (NCEMA) Standard 7000:2012. These regulations are formed to regulate water, waste water and electricity sectors in Emirates to develop BCM and BCP in compliance with NCEMA 7000:2012.

Some of the NCEMA 7000:2012 Regulations include:
• Define own organisational criteria and trigger for executing a Business Continuity response in accordance with respective Business Continuity Programme in the event of a Disruption
• Define a scope of BCM in terms of mission critical processes & functions
• Establish a BCM Committee to address organisational, functional, and operational issues
• Appoint a business continuity coordinator
• Conduct BIAs – determine and document the RTO & RPO for all mission critical processes & functions
• Identify threats and assess impact of threats, vulnerability of those impacts, likelihood of identified threats and finally calculate and evaluate the risks
• Measure BCM with internal audits, managerial reviews and measurement against KPIs
• Provide awareness & training and conduct test cases & exercises
• Above all, organisations should religiously review and update their BCM on a regular basis


To conclude, utility companies are responding well to localized emergencies. However, challenging economic environments and changing scenarios, forcing the companies to put aside their long-term concerns. Looking at the changing landscape, it is the right time to revisit Business Continuity Management and show urgency for continuity preparedness.


Business Continuation Planning

As a business owner, much of your wealth is probably tied to your business. While that may help the business grow, it may also create severe liquidity problems for your beneficiaries when you die. The value of your business will be included in your estate. How will your beneficiaries get the liquidity necessary to pay taxes due?  

Business Continuity Policy

Will they be forced to liquidate the business, or a portion of it, at a loss? Forced liquidation could have the following results:

* Sale may not return the fair market value of equipment and inventory.

* Outstanding accounts receivable will be difficult to collect.

* Intangibles – such as reputation, customer-base and location – could be lost.

* Family control of the business will likely be lost.

Without proper plannings your business may die with you. How can you help ensure the successful continuation of your business?

The Solution

Business continuation planning is an important step toward the continuation of your business. Taking the right steps now can help give you several benefits:

Provide cash to buy out a deceased owner’s share of the business:

* Ensure the business retains knowledgeable and informed ownership;

* Ensure that profits benefit active, rather than inactive, owners;

* Assure a ready market and fair price for your share of the business;

* Reduce economic pressure on heirs to liquidate other assets to pay estate settlement costs;

* Minimize the potential for disputes with the IRS over the valuation of your business.

Business Valuation Helps Eliminate Potential Conflicts

The first step in the creation of a business continuation plan is the determination of the purchase price – or the fair market value – of your business. Proper business valuation can help eliminate future conflicts between shareholders and the Internal Revenue Service (1RS). lf you fail to establish an accurate value for your business the IRS will establish one for you. This may be an expensive mistake – one that costs both time and money.

Often, owners of closely held corporations have a difficult time ascertaining what value the IRS might use for their business for federal tax purposes. Essentially, they use four methods for calculation purposes:

* Book Value

* Capitalization of Earnings

* Discounted Future Earnings

* Years Purchased Method

Funding the Buy-out

A business continuation plan isn’t worth the paper it’s written on unless a source of funding exists for the buy-out.. There are several options available:

* Borrowing. This can be the most expensive. Borrowing can increase the purchase price by up to 300% and put a financial drain on the business.

* Investment side fund or sinking fund. A sinking fund can be costly for a business since investment gains may be subject to taxation.

* Installment payments. Relies on making installment payments from corporate reserves when there may be better uses for the business capital.

* Life Insurance. The life insurance death benefit provides tie cash to fund the buyout. For just pennies on the dollars compared to the other funding methods, the surviving partners can plan for a means to buy out heirs and to retain control over the business, and the deceased owner’s interest can be converted into cash for the heirs.

The Benefit of Using Permanent life Insurance

By using a permanent life insurance policy, rather than term life insurance, the corporation or business owners can access the policy’s account value through loans and withdrawals. This can provide the funds needed for a buy-out during lifetime if you or another business owner wants to retire.

Which Business Continuation Arrangement is Best for You?

Which arrangement you chose depends upon a variety of factors, including the type of business you own – a sole proprietorship, partnership or a closely held corporation – how many owners are involved, and the owner’s financial goals.