What can be done to get more people to be entrepreneurs?
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The people can be taught to be more creative for big or small ideas. Either way, you may end up as second Creative Technology boss to manufacture digital mp3 player that can be sold worldwide or you are more up to set up an online shop as your very own boss.
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How about lowering interests for biz loans from banks? Will surely have more people to do biz and become entrepreneurs!
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Originally posted by Demon Bane:
How about lowering interests for biz loans from banks? Will surely have more people to do biz and become entrepreneurs!
even u have a lucrative business plan. the bank still dun loan u any moneywhat do u have to bakup the loan?
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Originally posted by seyKai:
even u have a lucrative business plan. the bank still dun loan u any moneywhat do u have to bakup the loan?
Oh, I think have to mortgage the house lor....will banks lend money to poor people with great ideas? I dunno leh...will they?
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If u can start your own company but only make $5K per month, will u still consider working for others for the same pay?
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education system
In japan the schools teach u solidarity with your peer
In singapore the schools teach you - I AM No. 1 .... so... No 1 blot No. 2 - you loser
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Originally posted by Demon Bane:
If u can start your own company but only make $5K per month, will u still consider working for others for the same pay?
I would choose to start my own company.
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As I have already mentioned somewhere else, my army mate started his business with $100+, and grew it to a $600k annual turnover in about 2 years
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Originally posted by eagle:
As I have already mentioned somewhere else, my army mate started his business with $100+, and grew it to a $600k annual turnover in about 2 years
Wow what biz is that?
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Problem is not everyone will succeed in bizness...for every success story...there will always be 100 failures....most impt of all....do u have what it takes to be an entrepreneur...><"
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Originally posted by maxsee:
Problem is not everyone will succeed in bizness...for every success story...there will always be 100 failures....most impt of all....do u have what it takes to be an entrepreneur...><"
Yup agreed....I failed a few times but this time I shall make it !!! Hahaha!
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Originally posted by Demon Bane:
Wow what biz is that?
I prefer to keep it secret because it will be easily known and found out. My friend only told me what he did and shared his experience; he didn't give any permission to announce publicly his business because he doesn't want his competitors to know too much.
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Originally posted by eagle:
I prefer to keep it secret because it will be easily known and found out. My friend only told me what he did and shared his experience; he didn't give any permission to announce publicly his business because he doesn't want his competitors to know too much.
So u are joining him too?
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If declaring the nature of its bizness will affect his bizness...frankly speaking i really doubt whether such a bizness profit is sustainable over the long run...it clearly shows that the level of entry into such a bizness is low...and thus not as good as it seem...><"
I myself started a trading bizness couple of years back while working at the same time..i remmeber first year turnover was 100k++ with 300 - 800k subsequently per annum....although it is only a tiny bizness...i have to say that profit margin of more then 50% definitely make it a very lucrative bizness....><"
But never in my life if people ask me what type of bizness do i do..would i shy away from saying i am into import and export....><"
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Originally posted by maxsee:
If declaring the nature of its bizness will affect his bizness...frankly speaking i really doubt whether such a bizness profit is sustainable over the long run...it clearly shows that the level of entry into such a bizness is low...and thus not as good as it seem...><"
I myself started a trading bizness couple of years back while working at the same time..i remmeber first year turnover was 100k++ with 300 - 800k subsequently per annum....although it is only a tiny bizness...i have to say that profit margin of more then 50% definitely make it a very lucrative bizness....><"
But never in my life if people ask me what type of bizness do i do..would i shy away from saying i am into import and export....><"
Wow! Good for you! You've made it! Congrats! I'm starting a high end restaurant with my frens, hope it'll be a success this time! I failed a few times liao....this time must make it work!!!
Too bad the govt is not doing enough to help entrepreneurs.... -
i think the rental is the most important part the government should look into, to encourage entreprenership.
it is common practice now for landlords to collect 6 months downpayment for store rental. and this rental fee already make up the bulk of the operating expense.
furthermore, the rental fee per sq foot is also too high to attract enough people to start their own business.
how would you have any goods to sell if the bulk of your money in spent on procuring a shopfront or office?
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gahmen wants u to go hi-tech not opening up a small shop just to sell some imported goods to the locals.
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Originally posted by deathmaster:
i think the rental is the most important part the government should look into, to encourage entreprenership.
it is common practice now for landlords to collect 6 months downpayment for store rental. and this rental fee already make up the bulk of the operating expense.
furthermore, the rental fee per sq foot is also too high to attract enough people to start their own business.
how would you have any goods to sell if the bulk of your money in spent on procuring a shopfront or office?
Agreed. Maybe govt should give free office or shop space or start a regulation to lower rentals....
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Originally posted by seyKai:
gahmen wants u to go hi-tech not opening up a small shop just to sell some imported goods to the locals.
you want hi-tech, can, but who has the extra money to spare to fund a high-tech startup?
maybe in programming its possible, by creating something that has low entry-cost such as apps, or web design.
as for other industries, nothing can come out of these talks unless people are rich enough to afford the high startup cost. e.g. land, materials, goods, labour.
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Originally posted by Demon Bane:
Agreed. Maybe govt should give free office or shop space or start a regulation to lower rentals....
one such "solution" spurn out was to encourage people to start from pushcarts.
but imo, no one really takes pushcart sales seriously.
e.g. if you need to buy something, you would tend to go to a more "reputable" shop which has an actual shopfront, than to buy from a pushcart,
a pushcart is more for the spur-of-the-moment purchases.
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Originally posted by deathmaster:
you want hi-tech, can, but who has the extra money to spare to fund a high-tech startup?
maybe in programming its possible, by creating something that has low entry-cost such as apps, or web design.
as for other industries, nothing can come out of these talks unless people are rich enough to afford the high startup cost. e.g. land, materials, goods, labour.
tats the problem otherwise all r entrepreneur oridithe indians got plenty of programmers - in entrepreneurship, learn to use OPB n OPM
not many ppl has a rich father n they u have to face the hardship if u want to be rich
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Originally posted by seyKai:
tats the problem otherwise all r entrepreneur oridithe indians got plenty of programmers - in entrepreneurship, learn to use OPB n OPM
not many ppl has a rich father n they u have to face the hardship if u want to be rich
nowadays, to set up a simple store selling merchandise. e.g. food, clothes, etc cost around $100k, inclusive of rent, renovation. and depending on your cost of goods, it might cost more if your goods are of high-tech nature e.g. handphones, electronics etc
after paying for housing, how many people have the cash at hand to invest $100k into starting up a business? and not to forget that it take time to build up a business base, so an aspiring entreprenuer should expect 3-6 months of continuous loss before making a profit.
my point here is that now, even if you are willing to face the hardship, it is hard enough even to get the opportunity to be an entreprenuer.
go and ask a foreign worker about the cost of doing business in their homeland.
they just need a few hundred to thousand sing dollar, to get their goods and rent a shop space.
and for M'sian, $50k is enough to buy them a shophouse to do business, and they would save on monthly rental fee.
in S'pore, your 100k is only sufficient to pay off the rental deposit, which would be forfeited if you decided to terminate your business before your rental contract ends.
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Originally posted by maxsee:
If declaring the nature of its bizness will affect his bizness...frankly speaking i really doubt whether such a bizness profit is sustainable over the long run...it clearly shows that the level of entry into such a bizness is low...and thus not as good as it seem...><"
I myself started a trading bizness couple of years back while working at the same time..i remmeber first year turnover was 100k++ with 300 - 800k subsequently per annum....although it is only a tiny bizness...i have to say that profit margin of more then 50% definitely make it a very lucrative bizness....><"
But never in my life if people ask me what type of bizness do i do..would i shy away from saying i am into import and export....><"
Well, I'm not the business owner, so it's not up to me to give any comments.
You are the business owner, so it's a different story. Would you like it if your friend leaked what you told him out on a public forum?
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Originally posted by Demon Bane:
So u are joining him too?
No. I've plans on starting my own next year. Working on it now.
Nothing to do with trading, more to do with education, but nothing to do with tuition.
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I've heard of Singaporeans going to Indonesia to do biz, cheaper costs and more consumers there....