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Thread: How to start a business?

  1. #1

    Default How to start a business?

    Me thinking of starting a small business like those shops..

    anyone in the retail industry?

    care to share your experiences?

    Thanks.

  2. #2
    ClubSNAP Admin Darren's Avatar
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    Go RCB register "Dragos's Biz" - i think the fee is $150. Very simple, couple hours done. err... but must have commercial address as the registered address of the biz (can also use HDB or private residential - but must apply for approval from another body first). Alternative is to use one of those companies that specialise in providing their address for biz registration.

  3. #3
    ClubSNAP Idol Adam Goi's Avatar
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    Default Re: How to start a business?

    Originally posted by dragos
    Me thinking of starting a small business like those shops..

    anyone in the retail industry?

    care to share your experiences?

    Thanks.
    So you're calling it a day at **?

  4. #4

    Default Re: How to start a business?

    Originally posted by dragos
    Me thinking of starting a small business like those shops..

    anyone in the retail industry?

    care to share your experiences?

    Thanks.
    U can register your business either as a sole-proprietorship or a Privated Limited. For privated limited company, u need another person as a director to register at RCB (Registry of Companies and Businesses)

    Back in 1999, I registered a sole-prorietorship for just $50. Took me a day to receive the approval from RCB cos they need to check whether the sole-proprietorship name that I have chosen was not taken by someone else. Also, u need an address to register your business. U cannot use HDB address as a business address unless you have approval. Back in 1999, if u plan to use HDB address, u need to get approval from the NSTB then. So to get around the 'problem', I use a private residential address as a business address.

    Just to share with you my experiences which I hope will give u an idea on how to register a business.

  5. #5
    nikonnd02
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    Default Re: How to start a business?

    Originally posted by dragos
    Me thinking of starting a small business like those shops..

    anyone in the retail industry?

    care to share your experiences?

    Thanks.
    RCB has introduced efiling....check out www.rcb.gov.sg for more info. It's not easy starting your own business...'cos you got to handle A to Z of the business on your own......spend some time writing a business plan to consolidate your thots..... think about your value propositions and why people should buy from you... if possible test your ideas before sinking in all the investment... finally ask yourself if you are really passionate about what you are going into... 'cos that's gonna determine whether you'll fail or succeed..

  6. #6

    Default Re: Re: How to start a business?

    Originally posted by AdamGoi


    So you're calling it a day at **?
    Thanks for the **

    Hehehe......just that a lot of things are happening at **

    Decided to look ard and see if I can start something....

    Will first try out at flea markets.....

  7. #7
    nikonnd02
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    depending at what u are selling.....can test at stadium cove too... i think u only need to commit to 3 weekends... u can go more info on the rental details at one of the booth there...

  8. #8

    Default

    Thanks...will check it out

  9. #9
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    Is bazaar at Stadium Cove still on? Thinking of selling some frame pictures of photos I have taken. With a little help from Photoshop and lots of imagination, I think we can all do magic with our shots. Good to have a hobby that can support itself.

  10. #10
    ClubSNAP Idol Adam Goi's Avatar
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    Default Re: Re: Re: How to start a business?

    Originally posted by dragos


    Decided to look ard and see if I can start something....

    Will first try out at flea markets.....
    It's good to keep one's options open... good deals do come by as long as we are alert, I'm doing that too

    Still, pragmatism rules at the end of day, given the current economic climate and our duties to our family.

    All the best dude!

  11. #11

    Default

    Hi, you ever consider starting a IT solutions business?

  12. #12

    Default

    Originally posted by Belleforte
    Is bazaar at Stadium Cove still on? Thinking of selling some frame pictures of photos I have taken. With a little help from Photoshop and lots of imagination, I think we can all do magic with our shots. Good to have a hobby that can support itself.
    yup yup, it's still on. but the number of vacant stalls are increasing. quite pathetic.

    once, there was a stall selling b&w pictures and some digitally manipulated photos framed with black cardboard. selling for 20+ onwards... wondered if they managed to at least break even...

    watever the case, dragos n belle, do post to tell when u all are starting business and i will go down support. but muz give me BIG BIG VIP discount!

  13. #13

    Default

    Originally posted by Shadus
    Hi, you ever consider starting a IT solutions business?
    Nah.....though I am interested in IT....it will also remain a interest....not a job..

  14. #14
    nikonnd02
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    Fren and I tested the retail market in Dec 02... Looked at flea markets and Stadium Cove, then decided that Stadium Cove had a much better crowd... at least then....

    In the end though, we got a fren to help sell our stuff in her shop. That kept cost really low...in fact, the only investment was S$150 for stock. Of course, we got to share the profit with the fren.

    Being in the market helped us to be really sensitive to competitors' offerings! Didn't make much $$ though, i think it's only enough to buy "Budda jump over the wall" for all three of us!!

  15. #15
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    Wah, got Buddha jump over the wall not bad already you know.... some people don't even make any money....

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