boost7 wrote:Well here I am
another fan of this forum
I have registered a company here, planning to apply for my Entrepass, kindda freaked out afta lookin at the facts and figures. What happens if entrepass gets declined??? lets say if appeal gets declined also ??? what are the chances of survival??
After all the spending you have done, like web page designing, paid up capital, local directors bond and monthly charges, office space ?? Is there any other way to keep ur biz running??
My biz is mainly exporting used cars from here to NZ and ireland.
Alright dudes, this is ma first post, so plz plz plz no funny comments
I am already freaked out
Chill
Car Export! Interesting, been involved in the business myself many years ago in Europe late 70's early 80's although i was doing private imports, the legal issues at that time was very complexed and even my legal advisor was shocked and amazed, how i got around the legal loop holes, to officially import a car a month for resale
I can say I wasn't to well liked by dealers, although no laws had been broken, I eventually had a legal document drawn up, called a power of attorney, to legally increase the business from a hobby into a thriving business, It was kind of gung ho and learn by mistakes until practical experience was gained.
If you are turned down, all is not lost, loop holes do exsist and are used very often in Singapore for the purpose of business, many like yourself are doing business everyday of the week in Singapore, and are in the same boat.
It maybe an idea to start a thread for an idea tank, to recruit those people having the same problems.
I do know of one person that has been here a few years and is in the same situation, although I believe the problem to be one of "inexperience of making a business plan convincing" selling the idea in otherwords.
One thing if you don't mind me saying. A very good salesman, is not really the same as a very good businessman, and likewise a good businessman is maybe not a very good salesman.
Knowledge is gained however by theory on a much higher level and specialised business study, like hands on Export Consultancy, than a normal business degree and incorporated into practical use, to gain specialised experience for representing business outside of their own domain, much work is done on creating business plans for long term market penitration and government export funding, although for a good export consultant to do his job, in evaluating the export thrust and feasibility, he needs to see the companies business plans, short and long term, as well as financials
Strong Eagles input on fulfilling the singapore criteria for the entrepass was excellent advice, all that is needed is for a person to be capable of communicating the correct message on paper, to the authorities in question.
Remembering that you need to convince them of your contribution to Singapore and not your own pockets!
It's obvious in the short term there is money to be made in your trade, but in the long term, what is there?
I can see many possibilities of exporting scrap cars maybe to 3rd world countries and I do know people involved, operating from the UK, unfortunately they are people that make lots of money in there own unplanned way, without any real long term vision or planning.
My old school mate who is actually a millionaire long ago, once said to me " I may not be the cleverest at school, but I know, when i purchase something and double the price, I'll make a living" he winked at me and i didn't have to wonder why! He has what i call the patter and also kept his morals, and that's why he keeps his customers!
Although it is the sound business plan, that will decide your future, in singapore, so i can only suggest paying out what is needed to get the best writer of business plans in the trade.
There is quite a difference between trades if you get my meaning, UK designer is good at is job, discipline and structure is needed in his life to produce best results, its a kind of personality thingy, a good salesmen on the other hand, especially involved in cars needs to have the patter like an auctioneer, salesman, or even a comedian, and i've seen and know many of them in my life!
Rest assured, there is a way to conduct business in Singapore, without an entrepass, and the government also know this too!
Although your main concern maybe residing in Singapore, rather than doing business in Singapore, it still comes back down to that business plan, and convincing the authorities, that you are a serious player for building long term business, rather than making a quick buck and servicing the fillies
!
Would you mind telling us all where you are from? it could also be a relevant factor, believe it or not!
mind you dude, isn't actually British, So I will go for Australian, rather than American, because of the NZ and Ireland connection, although Texan keeps coming to mind too for some reason!
