Opening a new business can be an exciting time. As a new business owner, you’re able to realize your dream of being your own boss and watching your hard work come to life in the form of revenue. If this is your first time navigating the process of opening a business, you may find yourself overwhelmed at times. While it’s normal to feel stressed, these tips can help you get your new business off the ground successfully.
Without the proper equipment, your business may have a hard time operating smoothly. For example, if you want to run a bakery but only have one mixer, you may have a difficult time meeting bulk order requests and customer demands. While you don’t want to overspend on equipment, you do want to be sure you’re properly scaled up to meet production demands which results in happy paying customers.
The Energy Market Authority (EMA) launched the
Open Electricity Market (OEM) proper on November 1, 2018. As a measure to
enhance the electricity market in terms of competitiveness and to encourage innovativeness,
the OEM marks a progressive wave in the market. With a new market structure
involving multiple retailers, consumers and operational processes, is Singapore
geared up for it?
The Open Electricity Market
The full launch of the Open Electricity Market means that residential and business consumers have a choice in deciding who they want to purchase their electricity from, out of a current list of thirteen retailers.
Before the Open Electricity Market was introduced, Singaporeans only had SP Group to rely on for their electricity supply. Each retailer provides a range of standard and non-standard price plans for consumers to choose from. After comparing different price plans, they can choose one which befits their households’ and businesses’ electricity usage …