The Need for Business Registration
 

Hi all, though i'm not quite ready to quit my full time job, i'm planning to start a small retail business and eventually i hope to develop this small biz into a social enterprise :)

i'm now in the process of getting the samples of my target products from an overseas supplier...

While i'll read up business govt portal for all the admin details & procedures,

i would like to find out do i need to do business registration for the following:

1) selling at bazaar - Yes / No

2) selling at fleamarkets - Yes / No

3) rent a space or a display corner at a retail shop - Yes / No

4) share a space with a pushcart owner (not co-rent, something like the other party sub-let) - Yes / No

5) selling my items at a shop on consignment arrangement - Yes / No

6) buy supplies fr wholesalers from overseas - Yes / No

7) buy supplies fr local wholeesalers - Yes / No

8) sell my items by renting a pushcart from shopping malls - Yes / No

can someone be so kind as to enlighten me please... :thanx:

Re: The Need for Business Registration
 

hihi, not sure if i'm correct tho..

1) selling at bazaar - No

2) selling at fleamarkets - No

3) rent a space or a display corner at a retail shop - No (but need to sign an agreement with the owner)

4) share a space with a pushcart owner (not co-rent, something like the other party sub-let) - Yes (if u're the owner) / No (but need to sign an agreement with the owner)

5) selling my items at a shop on consignment arrangement - Yes

6) buy supplies fr wholesalers from overseas - No (but would be good to be registered)

7) buy supplies fr local wholeesalers - No (but would be good to be registered)

8) sell my items by renting a pushcart from shopping malls - Yes

Re: The Need for Business Registration
 

hi foong, thanks for your reply, the info is really very helpful :thanx:

Re: The Need for Business Registration
 

Your quote:
4) share a space with a pushcart owner (not co-rent, something like the other party sub-let) - Yes (if you're the owner) / No (but need to sign an agreement with the owner)

Hi

I just wondering do there such a thing as rent from someone without register a company name.

Abit curious - register company name is under sole proprieties is dangerous rite if the company doesn't make it. Coz we put our home as guarantor

Hope u can help?

Re: The Need for Business Registration
 

Melcolleczion,

If you want to start ant legal business in Singapore, you must register with the right authourities. In this case, it's ACRA and BIZFILE. It's compulsory if you want to be a legal sole-proprietor.

If, however, you don't wish to register your business and yet you have small items to sell (for example, costume jewelry), you can just wait upon for the right opportunity whereby someone who is registered who has a space and who is willing to share a portion of that space. That way, you don't have to register your business because the legal tenant has already done the neccessary documentation.

There are lots of business owners in Singapore who weigh their risks before starting up. So it's about taking a gamble. For people like me, I started of with lots of uncertainty. I wasn't sure that the business could survive. Yet, this is the thing about entrepenuership. It's calculated risk-taking.

Re: The Need for Business Registration
 

agree with the calculated risk-taking. if you are not confident of your business, then maybe shouldn't go into business in the first place? then later everytime keep worrying about meeting overheads, loans, etc..