how much to start your own business?

[saf168]

Always thinking of staring my own business, but no $

Anyone boss here can tell me what is the minimum capital ?

[35Cents]

Depends on MakMak Shop or international trading company....

[coralreef]

Depends on MakMak Shop or international trading company....

Agreed, so it can be all the range available in the poll

[Lester]

Always thinking of staring my own business, but no $

Anyone boss here can tell me what is the minimum capital ?

hi bro ...

mind telling wat u always dream of ???hehe is it wet or dry ??

[ervine]

i don't think u can just estimate a capital based on nothing.. at least you need to know what kind of business or what industry or at least a general idea which way you are headed before starting anything.

if you don't have an idea what to do then what's the point of thinking about how much money you need?

[cyclop]

Agree!!! If you don't wish to be doomed to join the league of failures - forget about it.

[AquaRa]

failure shouldn't be in your vocab b4 u even start

[cyclop]

Yes, we should not! But without any plans or even hardly any idea of what we want to do, we will olny be "staring" at our business. If I have >$50,000 to spare I would rather save it & spend a little on marine fish, instead of putting them in any business I have not idea about and stress myself everyday waiting to make them back $ by $ and cts by cts or worst still if nothing comes back at all.

To have more money I would rather work for it and get a steady income every month (& CPF). Meanwhile, plan for the future.

[Achilles Tang]

If you fail to plan, you plan to fail.

First movers advantage - seize it.

Work harder than you have ever worked before- 1000% harder.

Prepare to sacrifice a lot of things.

[ckkoon]

Minimum you'll need to spend are the statutory fees needed to register a business with RCB. Think a few hundred dollars, not too sure. The rest are really dependent on what kind of business you intend to do. Is it capital intensive (eg machine, renovation, furnitures etc) or web-based (cost of web services) etc

[ervine]

yups... business plan/idea is the MOST important.... without it you are bound for failure man.. no direction, no focus, sure die...

for me my initial capital was $10k (we scrimped and saved like crazy) which even includes a shop, equipment, furniture etc... but we ran through the calculations many times to come up with this figure before we went out to look for investors and loans.

[Bandit]

We got an online business up an running with A$20K outlay, and turned it into a business turning over more than A$100K per year in 36 months.... but it was 36 months of hell, long hours, shortage of cash flow etc etc etc... not something to be taken lightly.

[rockfish]

yeah.. it really depends on wat u wanna do...

I'm planning to start my own F&B biz now .. after all the running ard and stuff .. its so much more than wat i dream of initially.

Failure should never be in the vocab..??

For me its the first word in my dictionary.

Failure = no money.

no money = poor

poor = no reef tank

no reef tank = not happy

not happy = miserable

miserable = loser

Loser?? i dun wanna be loser!!!

with that, i tell myself .. u only have one chance ..

Do or die!!

[tineng]

yeap....failure should be the first thing in your vocab.....if not you will not know when you are licked and move on to try new stuff/model/plan.....

after running for 6 years, my business no longer the same a what was initially planned....

[Nickel]

Bro, depends on what you want to do and/or what skill set you have.

To register your own business in RCB only need $60 for first year. Thereafter cheaper as you no need to do search for company name. think $50 thereafter for extension of business certificate.

For consultancy (agaqin depend what consultancy and how elaborate you want it to be) you can do it without much investments. Maybe printing name cards and phone/transport cost...etc.

As I said, depend on what you want/can to do, risk of ROI various too. Doesn't mean more invetment more returns. May be opposite is true !! Timing is also important. The most well planned business case implemented at the wrong time will still fail.

Just some food for thoughts.

[saf168]

Thanks guys... for all your reply!!

I am actually thinking of joining my friend's company with capital <$5000 but return 7000% in 2 years time.. flexible working hour too, so anyone who have a full time job can join to make more $ for retirement. But like any other job, i must work hard and 'failure' is not in my dictionary..

Anyone here have a similar business like this?

[35Cents]

Thanks guys... for all your reply!!

I am actually thinking of joining my friend's company with capital <$5000 but return 7000% in 2 years time.. flexible working hour too, so anyone who have a full time job can join to make more $ for retirement. But like any other job, i must work hard and 'failure' is not in my dictionary..

Anyone here have a similar business like this?

Given such a high ROI, I believe the risk is parallel to it too. I wish you all the best and can only advise you to look before you leap.

[ckkoon]

Return 7000% in 2 years time??!!!

Wat biz venture is tat? Got something to do with MLM?

[cyclop]

If you know what you are doing, "GOOD LUCK" to you.

[Nickel]

Too good to be true, may be just that : Too good to be true.

I cracked my head looking for a sustainable business with reasonable investment, not even thinking of huge ROI close to what 70 times can be, hair all white now, still can't find that elusive business opportunity that I can see beyond the end of year, let alone 2 years with almost sure returns.

Good Luck. You may have found the pot of gold at the end of the rainbow.

[Eric]

Thanks guys... for all your reply!!

I am actually thinking of joining my friend's company with capital <$5000 but return 7000% in 2 years time.. flexible working hour too, so anyone who have a full time job can join to make more $ for retirement. But like any other job, i must work hard and 'failure' is not in my dictionary..

Anyone here have a similar business like this?

Easy come Easy go...................

Eric

[Seng]

Thanks guys... for all your reply!!

I am actually thinking of joining my friend's company with capital <$5000 but return 7000% in 2 years time.. flexible working hour too, so anyone who have a full time job can join to make more $ for retirement. But like any other job, i must work hard and 'failure' is not in my dictionary..

Anyone here have a similar business like this?

If u are joining an MLM company, please seriously reconsider... else u might regret it 2 years down the road.

Then again, if not MLM OR u feel that it is a risk worth taking, go ahead. Success comes with failures but isnt it better to learn such lessons from others?

[cyclop]

MLM Company???? - "Wise Man say, only F.......ls rush in". Many enterprising youngster had been taken on ego trips and beautiful dreams, only to wake up loads of stuff and lost $$$$$$$.

[SpiderOne]

MLM is hopeless. Unless you at the Top Level

[ervine]

take heed bro... there's never such a good deal.. EVER... please do your research carefully and make sure you know what you are getting yourself into.

I wish you all the best...