Hello people
This topic has been discussed perhaps a million times, somehow, I couldn't find them when I need the answers so much. If there are already threads in the forums that are relevant to this, please direct me there.
Otherwise, here I go again...
I had been designing websites for people for the past 14 months -- on freelance basis. Can't say it's fantastic, but my total billing has exceeded 20k, helped a great deal in clearing off my credit cards, and paid some bills.
More gigs are coming in lately, and I'm starting to give this a serious thought: about moving to next level.
Let me tell you more. Presently I'm holding a contract job, which expires end of this year. I'm not concerned if it will be extended. Not because I dont like the job (actually its related to what I'm doing anyway - webmaster), more like, I don't fancy holding a job at all. After two retrenchments in the past, I stopped believing in "job for life".
On top of that, my PR status is coming to due soon (Oct 2006), my understand is: in order to extend my PR status, I have to remain "employed", at least during renewal period. So the best job security I can find is the one I give myself.
Question is: should I register my business as a sole proprietor, or should I incorporate it (I also understand that it is possible to start a company in Singapore with one director).
I have talked to several people who help others set up company, their opinions vary -- some recommended me to go inc (ironically, they themselves are sole-prop), and some suggested that sole-prop is good for a start.
Now, I would like to hear this from people who have gone through this path, and tasted the outcome of their decision. If you had been in where I'm at now, please share your thoughts with me. Your time is greatly appreciated.
Cheers.