Meet Lydia Liew: Empowering Entrepreneurs with Financial Clarity and Compliance Confidence

Meet Lydia, the Managing Partner at BusinessDistrict, specialising in corporate secretarial work, accounting, CFO services, and corporate finance. She is on a mission to help entrepreneurs make sense of their numbers and stay compliant from day one. Drawing from over a decade of industry experience, she brings clarity, structure, and strategy to business owners across all stages of growth.

In this interview, Lydia shares the challenges most entrepreneurs overlook, a remarkable case study of rebuilding a business after disaster, and why understanding your numbers isn’t just important. It’s critical to long-term success.

What inspired you to specialise in corporate secretarial work, accounting, CFO services, and corporate finance consulting?

I started this business after working in an accounting firm for about 10 years. That gave me full exposure to the industry. I saw firsthand how many business owners struggled with compliance.

I realised that through this specialisation, I could help entrepreneurs at different stages—starting out, growing, or preparing for exit—better understand their numbers. That was what inspired me to continue in this field.

You have worked with countless businesses at different stages of growth. What early experiences shaped your passion for helping entrepreneurs build strong, compliant foundations?

From early on, we noticed that out of every ten entrepreneurs we met, nine were unsure about compliance. Many start businesses out of passion and only later realise the compliance aspect can be daunting. They often fear it. That’s where we come in.

I have seen how unaware most entrepreneurs are about regulatory requirements and how numbers can actually help their business. That has shaped my drive to support them.

What are some of the biggest financial or legal mistakes you have seen businesses make in the early years?

One common mistake is not keeping track of transactions. Business owners receive and make payments without recording where the money is coming from or going. They often fail to retain supporting documents.

Another issue is mixing personal and business expenses, thinking they can be deducted for tax purposes. Some also don’t realise their accountants might not be doing things correctly. These early mistakes stem from not understanding the importance of numbers.

There was a time when I got completely absorbed in building my business. I lost sight of my own purpose. Slowing down helped me reflect on what I wanted to achieve, not just for my business, but also for the clients and partners we serve.

Could you share a case where your strategic guidance made a significant difference to a company’s growth or cash flow?

One client had her factory burn down. She lost all her invoices, documents, and bank statements. We sat down with her to rebuild her accounts. We advised her to retrieve statements from suppliers and banks, and tracked every item we could.

We reconstructed her financial records and introduced her to Xero, an online accounting system. She began issuing invoices digitally and uploading documents for safekeeping. Her business recovered with better cash flow and improved systems.

If you could give one piece of advice to aspiring entrepreneurs, what would it be?

Know your numbers. Without them, it’s like flying blind. Many entrepreneurs focus on their passion and sales but ignore their financials.

If they don’t track numbers, they can’t measure progress or make informed decisions. Many business failures I’ve seen are due to this oversight.

What moment in your life changed the way you see the world?

There was a time when I got completely absorbed in building my business. I lost sight of my own purpose. Slowing down helped me reflect on what I wanted to achieve, not just for my business, but also for the clients and partners we serve.

That shifted how I viewed both my business and life.

What’s your vision for Singapore in the next five years?

Singapore is a small market, but it’s growing. With more foreigners entering the business landscape and local businesses scaling up, I hope every entrepreneur can thrive locally and expand abroad.

That will strengthen Singapore’s economy. The government’s vision of internationalisation, supported by grants like the MRA, encourages this. If we align with that, Singapore will do well.

If you could have a superpower for one day, what would it be and why?

I would want the power of invisibility. It would let me move around freely and do whatever I wanted for the day without restrictions.

Connect with Lydia: BusinessDistrict and LinkedIn.

Lydia is a member of Rainmaker, a revolutionary movement that rallies like-minded people together based on the values of Love, Authenticity, Respect, Kindness and Youthfulness (LARKY).