Singapore Entrepreneurs Network & Startup Organization

Let's say I pump in 20k n so far my biz only need 10k to operate n revenue is coming in.

In other words, there's excess 10k that wasn't needed.

If itake the 10k out now, is that considered income that will be taxed?

hi, i was in a similar situation as you and i got myself a debt collector. it was efficient, i got all my money back.

you can read it in my blog posts: http://www.theentrepreneurbusiness.com/
click under "debt collection" on the top bar

if the person is your friend, maybe it won't so ugly if you go to small claims. amt must not be more than $10k and if it's not more than $20k, u got to write in.

do feel free to contact me if you recommendation for a good debt collector.

i have a good one to recommend if u guys are interested.

i stop importing bulky items so i don't use them anymore.

but they're really experienced n know what documents is needed.

will advise to use air or ship and cover everything for u n not ex.

great post but i cannot comment. something wrong with your comment?

hi fishfinity,

ow did it go with the dept stores?

i'm sure u'll know what i mean if u've gone with them by now.

i believe everything is negotiable but going with them is definitely not my 1st choice of distribution channels.

i experience bad debts and got my money back.

for those who want to read about my experience: www.TheEntrepreneurBusiness.com

if u guys need recommendation, just PM me.

haha.. i like this idea.

now that it is the seventh month and smoke is everywhere again. :\

how much does the goods have to cost before GST will be imposed?

I understand that self-employed must top up their Medisave before they can renew their business.

what if when we log into cpf.gov.sg and state that I don't have any Medisave liabilities?


does it mean that I don't have to top up?

In my business, we usually just use a cheque to pay out the amt to ourselves at the end of the month since it is a small start up.

we don't pay ourselves CPF.


if we require an income statement, how do we go about it?

actually, i think being an entrepreneur is about being resourceful too.

JosephWong, you're right! open your eyes and you'll be able to learn from a lot of people and experiences.

i asked this on behalf of a friend...

any good websites to recommend? elance.com has to pay to even start browsing.

or freelancers to recommend?

wow thanks!

just written in to SCT and they replied that they cannot make the check, really thanks for this webbie!

what about acting as an agent and getting a cut from their sales?

is it possible to find out whether other companies have filed against comapny A for bad debts?

i need to do so before i can decide whether to go ahead to file as i don't want to be one of those queuing and waiting....

thanks for your help!!