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Be a gift sets supplier -advice?? :)

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michelleyeo
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Be a gift sets supplier -advice?? :)

Postby michelleyeo » Sun, 13 Sep 2009 11:00 am

Hi all,

I always wanted to start my own business and found this forum that may help me.
While sourcing for suppliers, i found a manufacturer in Thailiand and China manufacturing Baby Gifts sets. I had purchased for a few samples from them alreadly and the quality is up to my expectation.
I do not intend to sell to individuals as my idea will be a local supplier and supply to local gift shops.
However, do i need to set up a company for that ?
I think so as i need to do import from them and the quantity i purchased is at a min of 500 items. However, i have alot of concerns about setting up a company even though i read alot of the posting here.
Anyone who is doing supplier business. Perhaps can share some experience with me ? Really appreciate your help.

Rdgs,
Michelle

enterp
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Joined: Wed, 02 Sep 2009

Re: Be a gift sets supplier -advice?? :)

Postby enterp » Sun, 13 Sep 2009 5:08 pm

Yes you will need to set up one cos u need to apply for a CR number to do import/export things in/out of singapore.

And as a supplier, when u do delivery to the shops, u need to specify yr company name in the DO as well. When u invoiced the clients, u need to put yr company name on yr IV too right?

Easy, just set-up a sole proprietor first. Very easy step 1-2-3

1. Think of a name. Goto www.acra.gov.sg to register the company(u got singpass right). Immediate approval, pay $65.
2. Go apply for yr CR number
3. After u get yr CR number, can start bringing in yr stuff.

Wala, you are in business!



michelleyeo wrote:Hi all,

I always wanted to start my own business and found this forum that may help me.
While sourcing for suppliers, i found a manufacturer in Thailiand and China manufacturing Baby Gifts sets. I had purchased for a few samples from them alreadly and the quality is up to my expectation.
I do not intend to sell to individuals as my idea will be a local supplier and supply to local gift shops.
However, do i need to set up a company for that ?
I think so as i need to do import from them and the quantity i purchased is at a min of 500 items. However, i have alot of concerns about setting up a company even though i read alot of the posting here.
Anyone who is doing supplier business. Perhaps can share some experience with me ? Really appreciate your help.

Rdgs,
Michelle

michelleyeo
Newbie
Newbie
Posts: 3
Joined: Sun, 13 Sep 2009
Contact:

Re: Be a gift sets supplier -advice?? :)

Postby michelleyeo » Mon, 14 Sep 2009 10:42 am

enterp wrote:Yes you will need to set up one cos u need to apply for a CR number to do import/export things in/out of singapore.

And as a supplier, when u do delivery to the shops, u need to specify yr company name in the DO as well. When u invoiced the clients, u need to put yr company name on yr IV too right?

Easy, just set-up a sole proprietor first. Very easy step 1-2-3

1. Think of a name. Goto www.acra.gov.sg to register the company(u got singpass right). Immediate approval, pay $65.
2. Go apply for yr CR number
3. After u get yr CR number, can start bringing in yr stuff.

Wala, you are in business!



michelleyeo wrote:Hi all,

I always wanted to start my own business and found this forum that may help me.
While sourcing for suppliers, i found a manufacturer in Thailiand and China manufacturing Baby Gifts sets. I had purchased for a few samples from them alreadly and the quality is up to my expectation.
I do not intend to sell to individuals as my idea will be a local supplier and supply to local gift shops.
However, do i need to set up a company for that ?
I think so as i need to do import from them and the quantity i purchased is at a min of 500 items. However, i have alot of concerns about setting up a company even though i read alot of the posting here.
Anyone who is doing supplier business. Perhaps can share some experience with me ? Really appreciate your help.

Rdgs,
Michelle


Hey!
Thanks alot ya. However, 1 more question. How about the medisave top thingy, e more than $6k need to pay back out medisave right ? blur... :)

enterp
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Newbie
Posts: 11
Joined: Wed, 02 Sep 2009

Re: Be a gift sets supplier -advice?? :)

Postby enterp » Mon, 14 Sep 2009 10:55 am

Sis, dun worry about the medisave, only a few percent of yr delcared net profit. Wat is few percent if u make few hundred k rite

THe 6k is the limit, if u earn below 6k, no need pay MS. What is the percentage now for MS contribution??

michelleyeo wrote:
enterp wrote:Yes you will need to set up one cos u need to apply for a CR number to do import/export things in/out of singapore.

And as a supplier, when u do delivery to the shops, u need to specify yr company name in the DO as well. When u invoiced the clients, u need to put yr company name on yr IV too right?

Easy, just set-up a sole proprietor first. Very easy step 1-2-3

1. Think of a name. Goto www.acra.gov.sg to register the company(u got singpass right). Immediate approval, pay $65.
2. Go apply for yr CR number
3. After u get yr CR number, can start bringing in yr stuff.

Wala, you are in business!



michelleyeo wrote:Hi all,

I always wanted to start my own business and found this forum that may help me.
While sourcing for suppliers, i found a manufacturer in Thailiand and China manufacturing Baby Gifts sets. I had purchased for a few samples from them alreadly and the quality is up to my expectation.
I do not intend to sell to individuals as my idea will be a local supplier and supply to local gift shops.
However, do i need to set up a company for that ?
I think so as i need to do import from them and the quantity i purchased is at a min of 500 items. However, i have alot of concerns about setting up a company even though i read alot of the posting here.
Anyone who is doing supplier business. Perhaps can share some experience with me ? Really appreciate your help.

Rdgs,
Michelle


Hey!
Thanks alot ya. However, 1 more question. How about the medisave top thingy, e more than $6k need to pay back out medisave right ? blur... :)

michelleyeo
Newbie
Newbie
Posts: 3
Joined: Sun, 13 Sep 2009
Contact:

Re: Be a gift sets supplier -advice?? :)

Postby michelleyeo » Wed, 16 Sep 2009 1:01 am

Thanks all. i sort it out alreadly!. Thanks for all ur help! :)

enterp wrote:Sis, dun worry about the medisave, only a few percent of yr delcared net profit. Wat is few percent if u make few hundred k rite

THe 6k is the limit, if u earn below 6k, no need pay MS. What is the percentage now for MS contribution??

michelleyeo wrote:
enterp wrote:Yes you will need to set up one cos u need to apply for a CR number to do import/export things in/out of singapore.

And as a supplier, when u do delivery to the shops, u need to specify yr company name in the DO as well. When u invoiced the clients, u need to put yr company name on yr IV too right?

Easy, just set-up a sole proprietor first. Very easy step 1-2-3

1. Think of a name. Goto www.acra.gov.sg to register the company(u got singpass right). Immediate approval, pay $65.
2. Go apply for yr CR number
3. After u get yr CR number, can start bringing in yr stuff.

Wala, you are in business!



michelleyeo wrote:Hi all,

I always wanted to start my own business and found this forum that may help me.
While sourcing for suppliers, i found a manufacturer in Thailiand and China manufacturing Baby Gifts sets. I had purchased for a few samples from them alreadly and the quality is up to my expectation.
I do not intend to sell to individuals as my idea will be a local supplier and supply to local gift shops.
However, do i need to set up a company for that ?
I think so as i need to do import from them and the quantity i purchased is at a min of 500 items. However, i have alot of concerns about setting up a company even though i read alot of the posting here.
Anyone who is doing supplier business. Perhaps can share some experience with me ? Really appreciate your help.

Rdgs,
Michelle


Hey!
Thanks alot ya. However, 1 more question. How about the medisave top thingy, e more than $6k need to pay back out medisave right ? blur... :)


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