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BUSINESS PLAN FOR SEAFOOD BUSINESS..............

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mairaj
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BUSINESS PLAN FOR SEAFOOD BUSINESS..............

Post by mairaj » Sun, 06 Aug 2006 1:26 pm

I NEED HELP WITH WRITING A PRESENTABLE (OFCOURSE VIABLE) BUSINESS PLAN.............. ANY EXPERTS WHO COULD GUIDE ME .......... MERCI........
Hi,
I am a business man doing my own business for quite some time, now I want to expand and open my business in singapore. Please advise in details what are requirments and procedures of doing that.

Best Regards,
mairaj

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Strong Eagle
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Post by Strong Eagle » Mon, 07 Aug 2006 9:40 am

I sent you an email with a table of contents for a business plan. YOU need to write your own business plan. You can search the web for business plan formats but it is up to you to define what the business will look like, how much it will make, how much capital goes into it, and how it will run.

In order to set up a business in Singapore and successfully apply for an Entrepass you will need to do the following.

First, you will need to form a private limited company in Singapore. If you only try as a sole proprietor you will not be taken seriously by MOM. You only need to start a two dollar company, and a private limited company shows a seriousness in creating a business.

You will need at least one director who is a Singapore citizen or PR. If you do not know anyone, then several secretarial services, including the one I use and recommend, can supply you with a nominee director. Since a director, nominee or not, can control the company, you will want pre-signed letters of resignation that you can execute at any time.

You cannot form this company earlier than six months before you apply for your Entrepass and I recommend you file your new company only about 1 month before you file for your EP.

Your business plan cannot be more than 10 pages long. In it, you should address the following:

a) Your skills and experience in running this kind of business.
b) The capital you intend to put into it.
c) Your marketing plan, which includes your strategy, your competition, and how you will generate sales.
d) Your intent to hire Singaporeans into the business to do work… this is why the whole program exists… to generate jobs.
e) Three years worth of pro forma financial statements, showing what the business will do and when it will be profitable.

You should also make note that you will pay taxes (as shown in the pro forma statements), that you will keep your money in Singapore banks. Anything you can show that will make you a net asset to have a business here will help… for example, demonstrating that you have sufficient cash to support yourself until the business is profitable.

Check out the MOM website for details of the process.

http://www.mom.gov.sg/ProceduresAndGuid ... urs%29.htm

As I noted you will need an address in Singapore in order to make all this happen. Again, I recommend a secretarial service which can provide you with a registered address.

I highly recommend that you use a secretarial service to form your company and to help you with the EP. There are many rules and regulations that must be met, and the price for service well outweighs the costs of failure. In any event if you want a business that will pass MOM's inspection you will want audited books, so a firm is a must.

I recommend the following person. She specializes in small business. Neither the cheapest nor the most expensive.

Tan Saw Bin
S B Tan & Co
Certified Public Accountants
Reg no. 00867
http://www.sbtan.com.sg
Tel: 6844 8626 Fax: 6844 8627

Saw Bin (S B Tan) [[email protected]]

Good luck to you.

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