RetailBX.sg - Need company name or license/permit for pushcart?

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Re: Need company name or license/permit for pushcart?

if i'm not wrong, when you got sue bankrupt as a S.P, they can seize whatever is under your name.

Re: Need company name or license/permit for pushcart?

Quote:

Originally Posted by Rob82lim (Post 11115)

if i'm not wrong, when you got sue bankrupt as a S.P, they can seize whatever is under your name.

correct. under soleproprietor and partnership, u have unlimited liability - whereby if the business goes into debts or unfortunately bankruptcy, ur assets are in "danger". so u may want to calculate ur risks before entering into businesses under the above.

btw, for partnership - u can also consider LLP - limited liability partnership - whereby the partner is liable for his wrong decisions/actions, and not the wrongs of the other partner(s)

Re: need company name or license/permit for pushcart?

[quote=Melcolleczion;11106]

Quote:

Originally Posted by juinjuin (Post 749)

It cost just $20 per year to register a BUSINESS (sole proprietor). You don't need to register a COMPANY to do a pushcart business. [[so do we need to apply??]]
You can register a business using your SingPass here: www.bizfile.gov.sg

If you wish to use your HDB flat as the registered address, you just need to apply online here (for 3 years):
[[so u were saying that its not necessary to apply under HDB address, if so ..pls explain]]
http://www.hdb.gov.sg/fi10/fi10206p....OpenDocum ent

Hope that helps

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Hi

Sorry to cut-in like this, i too would like to have a push cart business but i need more details on this. Coz i noe if register company name under SP it will cost your home. So i wanna to make sure before i proceed as this will cost my family life.

Can you estimate how much the rental for push cart ??

Regards & Thanks

understand ur concerns too. i reg my small-time biz with my house address.

for pushcart rental, the rent can be from $2+k to $4+k per month; andand some/most landlords would require a 3-month upfront payment + a security deposit + fire insurance (+signboard fee) etc. can check the RETAIL RESOURCES of this forum for more info :). u may want to do ur homework properly, interview current pushcart operators at ur desire location, calculate how much and how long u require to breakeven, and whether u can afford this risk/pay up should ur business go bust. good luck!

Re: Need company name or license/permit for pushcart?

It's better to register your business with a company address (like a warehouse or proper office, if any) than to use your own address. First and foremost, to use your residential address for business doesn't sound professional (in my opinion) if you want your clients/customers know where your office is. Secondly, it may be an inconvenience to your family (if you don't stay alone) as official mails may pile up your physical mail-box. That may annoy your family members or occupants.

If you don't have a physical office to start with, what you can do is to engage a virtual office for easy registration. I mean by doing so with a certain amount a year (depending on what type of package you opt for), it looks bit more professional.

Re: Need company name or license/permit for pushcart?

Hi EarthlyScents, may i know how does one go about looking for those virtual office? do they help to redirect your mails to your residential address?

:thanx:

Re: Need company name or license/permit for pushcart?

for mails, u can also get a PO box. rent depends on venue too.

Re: Need company name or license/permit for pushcart?

Hi Good Afternoon
Just to elebrote more Im Samuel , 20 , Student. I am intending to start a small mobile push carts attached with a bicycle food business around my neighbourhood market. The push carts design will bring back the old memories of more than 50 years back in time how it use to be . Can i know what are the procedures, or what other option / advice i can look upon?

Thanks Samuel