top of page
  • a22162

Setting up a Recycling Company


Setting up a Recycling Company | Bestar
Setting up a Recycling Company | Bestar

Setting up a Recycling Company


To set up a recycling company in Singapore, you will need to:

  1. Choose a business name and register your company with the Accounting and Corporate Regulatory Authority (ACRA). You can do this online or through a registered filing agent.

  2. Open a corporate bank account. You will need this to receive payments from customers and pay your suppliers.

  3. Apply for a recycling permit from the National Environment Agency (NEA). You can do this online or by mail.

  4. Secure premises for your recycling business. This could be a warehouse, industrial space, or even your own backyard.

  5. Purchase equipment. The type of equipment you need will depend on the materials you are recycling. However, most recycling businesses need basic equipment such as sorting tables, conveyor belts, and balers.

  6. Hire staff. If you plan to grow your business, you will eventually need to hire staff to help you with the recycling process. This could include drivers, sorters, and machine operators.

  7. Market your business. Let potential customers know about your recycling services. You can market your business through online and offline channels, such as your website, social media, and print advertising.

Here are some additional tips for setting up a successful recycling company in Singapore:

  • Focus on a specific niche. There are a number of different types of materials that can be recycled, so it is important to focus on a specific niche. This will help you to become an expert in your field and to attract customers who are looking for a specific recycling service.

  • Partner with local businesses and organizations. Many businesses and organizations in Singapore are looking for ways to reduce their environmental impact. Partner with them to collect their recyclable materials.

  • Educate the public about recycling. The more people who recycle, the more successful your business will be. Educate the public about the importance of recycling and how to recycle properly.

  • Invest in technology. There are a number of technologies that can help you to automate and streamline the recycling process. This can save you time and money in the long run.

  • Be sustainable. Recycling is a sustainable business model, but it is important to operate your business in a sustainable way. This means using energy-efficient equipment and reducing your environmental impact.

Setting up a recycling company in Singapore can be a rewarding experience. It is a great way to make a positive impact on the environment and to build a successful business.



NEA licenses General Waste Disposal Facilities (GWDFs). A GWDF is defined as a disposal facility which receives, stores, sorts, treats or processes general waste, and includes recycling facilities. Companies can apply for the Licence/Exemption here.


Why Recycling Company


There are a number of reasons why starting a recycling company in Singapore can be a good idea. These include:

  • Government support. The Singapore government is committed to promoting sustainability and waste reduction. It offers a number of financial and non-financial incentives to recycling companies.

  • Strong economy. Singapore has a strong economy with a high GDP per capita. This means that there is a high demand for recycling services from both businesses and consumers.

  • Well-educated workforce. Singapore has a well-educated workforce with the skills and knowledge necessary to operate a successful recycling business.

  • Strategic location. Singapore is strategically located in Southeast Asia, which gives it access to a large market for recycled materials.

  • Growing awareness of environmental issues. Singaporeans are becoming increasingly aware of the importance of environmental protection. This is driving demand for recycling services.

In addition to these general reasons, there are also a number of specific reasons why Singapore is a good place to start a recycling company for certain types of materials. For example, Singapore is a major hub for electronics manufacturing, which means that there is a high demand for the recycling of electronic waste.


Here are some specific examples of government support for recycling companies in Singapore:

  • The NEA offers a Recycling Enhancement Programme (REP) to support recycling companies that are investing in new technologies or expanding their operations.

  • The NEA also offers a Recycling Facilities Improvement Scheme (RFIS) to help recycling companies to improve their facilities and meet environmental standards.

  • The Green Mark scheme is a government-run certification scheme that recognizes and rewards buildings and organizations for their environmental performance. Recycling companies can apply for Green Mark certification to demonstrate their commitment to sustainability.

Overall, Singapore is a good place to start a recycling company due to its strong government support, strong economy, well-educated workforce, strategic location, and growing awareness of environmental issues.

Here are some additional tips for starting a successful recycling company in Singapore:

  • Focus on a specific niche. There are a number of different types of materials that can be recycled, so it is important to focus on a specific niche. This will help you to become an expert in your field and to attract customers who are looking for a specific recycling service.

  • Partner with local businesses and organizations. Many businesses and organizations in Singapore are looking for ways to reduce their environmental impact. Partner with them to collect their recyclable materials.

  • Educate the public about recycling. The more people who recycle, the more successful your business will be. Educate the public about the importance of recycling and how to recycle properly.

  • Invest in technology. There are a number of technologies that can help you to automate and streamline the recycling process. This can save you time and money in the long run.

  • Be sustainable. Recycling is a sustainable business model, but it is important to operate your business in a sustainable way. This means using energy-efficient equipment and reducing your environmental impact.

Starting a recycling company in Singapore can be a rewarding experience. It is a great way to make a positive impact on the environment and to build a successful business.


Why Singapore


There are a number of reasons why Singapore is a good place to set up a recycling company. These include:

  • Government support. The Singapore government is committed to promoting sustainability and waste reduction. It offers a number of financial and non-financial incentives to recycling companies.

  • Strong economy. Singapore has a strong economy with a high GDP per capita. This means that there is a high demand for recycling services from both businesses and consumers.

  • Well-educated workforce. Singapore has a well-educated workforce with the skills and knowledge necessary to operate a successful recycling business.

  • Strategic location. Singapore is strategically located in Southeast Asia, which gives it access to a large market for recycled materials.

In addition to these general reasons, there are also a number of specific reasons why Singapore is a good place to set up a recycling company for certain types of materials. For example, Singapore is a major hub for electronics manufacturing, which means that there is a high demand for the recycling of electronic waste.


Here are some specific examples of government support for recycling companies in Singapore:

  • The NEA offers a Recycling Enhancement Programme (REP) to support recycling companies that are investing in new technologies or expanding their operations.

  • The NEA also offers a Recycling Facilities Improvement Scheme (RFIS) to help recycling companies to improve their facilities and meet environmental standards.

  • The Green Mark scheme is a government-run certification scheme that recognizes and rewards buildings and organizations for their environmental performance. Recycling companies can apply for Green Mark certification to demonstrate their commitment to sustainability.

Overall, Singapore is a good place to set up a recycling company due to its strong government support, strong economy, well-educated workforce, and strategic location.


Cost


The General Waste Disposal Facility Licence costs S$300.00 and is valid for two years.


How Bestar can Help


Bestar is a Singapore-based accounting firm that specializes in providing accounting and bookkeeping services to businesses of all sizes. They can help you set up a recycling company in Singapore in a number of ways, including:

  • Company formation: Bestar can help you to form your recycling company in Singapore. This includes choosing a business structure, registering your company with the Accounting and Corporate Regulatory Authority (ACRA), and obtaining the necessary permits and licenses.

  • Accounting and bookkeeping: Bestar can provide you with ongoing accounting and bookkeeping services. This includes tasks such as recording transactions, preparing financial statements, and filing taxes.

  • Tax planning: Bestar can help you to plan your taxes to minimize your tax liability. This can be especially important for recycling companies, which may be eligible for a number of tax deductions and credits.

  • Financial reporting: Bestar can help you to generate financial reports for your recycling company. These reports can be used to track your financial performance, make informed business decisions, and secure financing.

  • Business consulting: Bestar can also provide you with business consulting services. This can help you to develop and implement business strategies, grow your business, and improve your profitability.

In addition to these general services, Bestar can also provide you with more specific advice and assistance on setting up and operating a recycling company in Singapore. For example, they can help you to develop a financial plan for your business, track your recycling volumes, and comply with all of the relevant environmental regulations.


Overall, Bestar is a valuable resource for anyone who is considering setting up or running a recycling company in Singapore. We can provide you with the accounting, financial, and business consulting services that you need to start and operate a successful business.


Here are some additional tips for setting up a recycling company in Singapore with the help of Bestar:

  • Get organized. Before you start working with Bestar, it is important to get your finances organized. This includes gathering your financial records, such as bank statements and invoices.

  • Be prepared to provide information. Bestar will need a certain amount of information from you in order to provide you with the best possible services. This information may include your business plan, financial projections, and tax returns.

  • Ask questions. Don't be afraid to ask Bestar questions about your finances or business. We are there to help you and want to see you succeed.

With the help of Bestar and your own hard work and dedication, you can set up and operate a successful recycling company in Singapore.


Contact us today!

3 views0 comments

Commentaires


bottom of page