Is it better to start off as a Freelancer or register as a business?

If you looking into far and beyond, I will say that register as a business almost always win.

Why? It give some assurance that your work is better and the impression that people get from pte ltd versus freelancer are very different. You may disagree but do that after you talk to more small business owners / SME.... Not a requirement but might have some slight bias.

The other thing is about accountability which other answers had shed some light and you can google for more info as well.

Lastly to network and joining events as a company's representative is always better in most ways even though you are the only 1 in the company!

Additional Info:

Payments - Nowadays can pay to business reg number via PayNow and others, no worries

Networking - Covered above

Legal - There are some business template which you can use online. You can engage a lawyer for 1 time to go thru' the contract. Since you are going to SME or small entitiy you can draft something at your end and let them sign your version of contract rather than theirs. I propose to keep each contract as short as possible, say 1-3 months and have many contracts. Let's say you and your client want to work for a year, sign a MOU instead and have contracts signed every quarterly. This would reduce some risk that at your end and it is only possible for small companies to accept such terms and not bigger companies.

Hi there! I've been in your shoes once, when I was freelancing in software design. I started out registering as a sole proprietor, and went on to registering my business as a PTE LTD after my business raked up enough profits.

The key difference to note between a Sole Prop and PTE LTD is this:

PTE LTD:

The company directors and shareholders of a PTE LTD are not liable for the debts incurred by the company. However, the liability of the company towards its creditors is unlimited.

PTE LTD's also include stringent compliance and high incorporation and administration costs.

Sole Prop:

Not a corporate entity. The owner(you) is responsible for all its debts and liabilities. It cannot own the properties in its name.

With a sole prop, it is easier for freelancers to conduct their businesses and incur less administrative costs. However, do note that in the event of expanding your business, you might find difficulties such as difficulties in raising capital due to the structure of your business as a sole proprietorship.

Converting a sole prop to PTE LTD is possible, so you need not worry too much there when your business is booming and you feel a need to convert to PTE LTD.

Do note that there are differences in the costs for setting up companies versus a sole proprietorship.

If you would like more information, feel free to contact me: https://cherietan.typeform.com/to/wdlOfu