How easy is it set up a business in yr country?

icekachu

I live in Singapore and suddenly everyone's ambition is to become an entrepreneur. Schools are preparing us for it. The government is pushing for it. Sooner or later, everyone on the street is going to be his or her own boss.

However, just how many business ideas can one churn out? And when you have an idea, how easy is it to get it going? I believe most of us dream of being his own boss. But has anyone gone about doing it? And is it easy to set up a business in your country?

ARE YOU YOUR OWN BOSS?

carlokes

I live in Portugal andI think (correct me if I'm wrong my fellow citizens) that it's not only difficult but risky to start a business here.

First of all, right now we are passing through a time of crisis where the majority is lacking the power to buy. Life is getting harder and harder and the rich are getting richer and the "poor" getting poorer. Buying the "poor" the majority of the population, I think you understand where i'm trying to get to...

Secondly I think that if you are representing a multinational enterprise then I suspect that probably your business will be a success since you have a huge background making it possible

Finally there are the new small enterprises that take a huge risk venturing in the market and sometimes they don't even survive for a month (I know of real case where this happen, I'm not making up, I assure you). These enterprises only start to make some profit 3 years after being established and only if they survive so far.

It's also important to say that, since we are going through a crisis, our government does not waste any time or fund with small enterprises, only caring about the big one and the international investiments that are , somehow, going to be made in our country.

As a result of everything stated above i think i can say that in my country is not only hard but risky to start your own business, unless you have someone backing you up !!

thiamshui

icekachu, i live in Singapore too.. In Singapore, the process of registering your business is pretty easy.. I am not my own boss though..
Four types of organisations currently:
- Sole Proprietorship
- Partnership
- Company
- Limited Liability Partnership

In Singapore, registration of companies is under the Accounting and Corporate Regulatory Authority (ACRA), previously Registry of Companies and Businesses (RCB).. You can submit your registration online at http://www.bizfile.gov.sg .. Of course, you have to pay a one-time registration fee and a renewal fee when your license expires..

Of course, if you are registering your company logo (trademark), patents, etc, you have to go to the Intellectual Property Office of Singapore (IPOS): http://www.ipos.gov.sg

Indeed, the government is pushing for innovation & enterprise (I&E).. This is because of rising labour costs in Singapore.. Countries around us are getting more educated. There will be lots of graduates that will come from countries like China and India.. They will flood across the world, and look for jobs. Their labour costs are much cheaper than Singaporeans. For one Singaporean's salary, you can use that salary to employ many more India or China workers. And they are not necessary less skilled than Singaporeans. Where will the Singapore graduate stand? We no longer have the competitive edge of having 'skilled and high-tech labour'.. Everyone else is starting to catch up with us..

That is why we have to learn to create our own jobs.. That is also why the government is investing so much money in biotechnology, although the rewards are unconfirmed. It is to give ourselves a competitive edge.

This is a knowledge-based economy (KBE).. We have to constantly innovate and be creative in what we do, and offer the best in order to survive.. Wink

alkady

Mr Smith

Peel an orange, squeeze the juice into a cup, sell to your dog. Whoopie-doodle-doooo you have started your own business.

Vrythramax