Be a gift sets supplier -advice?? :)

[michelleyeo]

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]

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!

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]

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!

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]

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??

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!

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]

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

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??

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!

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...