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entrepass business plan - typical exepenses

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.

Did your startup cost you more or less than expected?

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David-asia
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entrepass business plan - typical exepenses

Postby David-asia » Fri, 19 Dec 2008 11:04 am

I'm working on my entrepass business plan, and thinking of the numbers.
I know all businesses have different expenses, but am looking for some general numbers.

For example,
1 salaried employee is $2k amonth + 1 mos year end bonus, + 14.5% to CPF.
Office space $4 a sq ft., so a small 400ft office is $1600

Electricity
Internet Access
Office Equipment
Phone Lines
Phones
Insurance
Accounting services

Missing more I'm sure.
Last edited by David-asia on Fri, 19 Dec 2008 1:59 pm, edited 1 time in total.

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ukdesigner
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Postby ukdesigner » Fri, 19 Dec 2008 1:10 pm

you have forgotten the cost of registering your business. There is a cost involved plus an annual fee of re-registering.

All of it is available on the ACRA website. You might want to engage the services of a company that does alot of the work for you. I used DP Bureau, who ACRA recommend. They were pretty good and efficient.

Don't forget also that you will need to put a bond down against yourself even if you go PTE Ltd. I'm not sure if you have to put that money aside for a PTE Ltd company. As a sole trader I had to. That was S$3k 18 months ago. Not sure if it's the same or not now.

Regarding Phone lines and Internet visit Singtel's website. They have the latest offers and deals on there. I find them much better than starhub for speed and I do alot of VOIP calls back to the UK and people think I'm in the next room. Plus they are ADSL rather than cable and if you work at home initially, as most people use cable at night it slows the internet down aswell.

Office furniture - I'd look at Ikea personally. All prices are on there so use that as a gauge for pricing even if you don't eventually buy from them. They have desks, chairs and stuff like that for offices.

Phones aren't overly expensive. Depends on your needs. Range from about S$100 to probably S$300/400 depending on requirements - you know multi-line fully functional PABX or whatever they're called.

Accounting services vary. I do my own but again you could use someone like DP Bureau. Look on the ACRA site for more info. It really is business friendly here. I have to put down 3 lines, which are ins, outs and balance. That's it. Seriously simple!! A bit more complicated I'm sure for a PTE Ltd but sms or strong eagle will have a better idea on those.

These were what I put down on my business plan. Better to over-estimate than under-estimate I reckoned.
Electricity I'd probably say S$150 a month. Telephone/fax about S$100 and insurance about S$100. Broadband I put down about S$100 a month. That's for a 12MB. Not worth getting the 100MB until the rest of the world updates and only benefits you on websites held here rather that the UK / States - from what I've heard anyway.

That should do you I reckon. Not much else to consider I don't think.
Don't p*ss me off! I am running out of places to hide the bodies.


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