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 For Small and Medium Business Owners v2, Come In and Share Your Biz ~

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sweechgo
post Feb 25 2017, 07:42 PM

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QUOTE(dradormien @ Dec 12 2016, 09:28 PM)
any advice on accounting software? Plan to self do it. Open business restaurant. With GST. Currently looking for UBS. any advice all sifu?
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Try AutoCount Accounting Software
Alex.Jy
post Mar 4 2017, 01:10 AM

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Hello guys, I not sure whether this is the right place to ask this kind of question, but if it's wrongly posted and it's a thread for my solutions it will be a million thanks for point it out for me.

Here's my question, 5years ago I had operated construction field business by using ENTERPRISE (ABC CONSTUCTION) company, so it went well and last year 2016, I had registered SDN bhd with the exact same name (ABC CONSTRUCTION SDN BHD).

For that I want to convert my enterprise business to SDN bhd and for sales part it all went well since I just change company to bill customer. However, til this date the problem came. There are some machinery asset under loan I n ENTERPRISE bought in 2014/15 which is still eligible for capital allowance in 2016, but due to enterprise got no revenue/profit anymore, there will be no capital allowance for the ENTERPRISE. And my SDN BHD got no assets yet.

Now my SDN BHD is due for audit and it's quite high amount of profit due to I using SDN BHD to pay for the loan while the asset is still in ENTERPRISE, may I know is there any solutions for me to claim or best option for my scenario?

Is it possible I make a transfer ownership of asset from enterprise to SDN BHD to claim capital allowance?

By 2016, my freelance accountant asked me to do this
ENTERPRISE : monthly repayment 5,000.00
SDN BHD : pay for the monthly repayment 5000.00 and treat it as rental. But both of my company are gst registered. So it's like paying gst to government for nothing.

Any sifu here mind do me a favor and help with this? I'm really desperate for any kind of solutions as I'm not experienced in accounting knowledge. MILLION THANKS!!
ericcc
post Mar 4 2017, 12:56 PM

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QUOTE(Alex.Jy @ Mar 4 2017, 01:10 AM)
Hello guys, I not sure whether this is the right place to ask this kind of question, but if it's wrongly posted and it's a thread for my solutions it will be a million thanks for point it out for me.

Here's my question, 5years ago I had operated construction field business by using ENTERPRISE (ABC CONSTUCTION) company, so it went well and last year 2016, I had registered SDN bhd with the exact same name (ABC CONSTRUCTION SDN BHD).

For that I want to convert my enterprise business to SDN bhd and for sales part it all went well since I just change company to bill customer. However, til this date the problem came. There are some machinery asset under loan I n ENTERPRISE bought in 2014/15 which is still eligible for capital allowance in 2016, but due to enterprise got no revenue/profit anymore, there will be no capital allowance for the ENTERPRISE. And my SDN BHD got no assets yet.

Now my SDN BHD is due for audit and it's quite high amount of profit due to I using SDN BHD to pay for the loan while the asset is still in ENTERPRISE, may I know is there any solutions for me to claim or best option for my scenario?

Is it possible I make a transfer ownership of asset from enterprise to SDN BHD to claim capital allowance?

By 2016, my freelance accountant asked me to do this
ENTERPRISE : monthly repayment 5,000.00
SDN BHD : pay for the monthly repayment 5000.00 and treat it as rental. But both of my company are gst registered. So it's like paying gst to government for nothing.

Any sifu here mind do me a favor and help with this? I'm really desperate for any kind of solutions as I'm not experienced in accounting knowledge. MILLION THANKS!!
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this is a question for your auditor and company secretary. they will know what to do. probably need a Resolution saying the asset is being used by the Sdn Bhd. something like that.
tstan8_8
post Mar 4 2017, 02:27 PM

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QUOTE(Alex.Jy @ Mar 4 2017, 01:10 AM)
Hello guys, I not sure whether this is the right place to ask this kind of question, but if it's wrongly posted and it's a thread for my solutions it will be a million thanks for point it out for me.

Here's my question, 5years ago I had operated construction field business by using ENTERPRISE (ABC CONSTUCTION) company, so it went well and last year 2016, I had registered SDN bhd with the exact same name (ABC CONSTRUCTION SDN BHD).

For that I want to convert my enterprise business to SDN bhd and for sales part it all went well since I just change company to bill customer. However, til this date the problem came. There are some machinery asset under loan I n ENTERPRISE bought in 2014/15 which is still eligible for capital allowance in 2016, but due to enterprise got no revenue/profit anymore, there will be no capital allowance for the ENTERPRISE. And my SDN BHD got no assets yet.

Now my SDN BHD is due for audit and it's quite high amount of profit due to I using SDN BHD to pay for the loan while the asset is still in ENTERPRISE, may I know is there any solutions for me to claim or best option for my scenario?

Is it possible I make a transfer ownership of asset from enterprise to SDN BHD to claim capital allowance?

By 2016, my freelance accountant asked me to do this
ENTERPRISE : monthly repayment 5,000.00
SDN BHD : pay for the monthly repayment 5000.00 and treat it as rental. But both of my company are gst registered. So it's like paying gst to government for nothing.

Any sifu here mind do me a favor and help with this? I'm really desperate for any kind of solutions as I'm not experienced in accounting knowledge. MILLION THANKS!!
*
Enterprise rent the asset to sdn bhd?
charge GST to sdn bhd, at the end sdn bhd claim back the gst .
No pain no gain/ should be?.

This post has been edited by tstan8_8: Mar 4 2017, 06:38 PM
eyemeroll
post Mar 6 2017, 07:19 AM

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Hi guys,

Anyone here have experience opening a tuition centre? I am thinking of opening STEM Centre in Johor. But while I have the technical & education skills, I have zero experience setting up a tuition centre. My biggest question is on how to get the first batch of students.



tstan8_8
post Mar 6 2017, 08:34 AM

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QUOTE(eyemeroll @ Mar 6 2017, 07:19 AM)
Hi guys,

Anyone here have experience opening a tuition centre? I am thinking of opening STEM Centre in Johor. But while I have the technical & education skills, I have zero experience setting up a tuition centre. My biggest question is on how to get the first batch of students.
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Advertising.
NightHeart
post Mar 6 2017, 10:07 AM

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QUOTE(eyemeroll @ Mar 6 2017, 07:19 AM)
Hi guys,

Anyone here have experience opening a tuition centre? I am thinking of opening STEM Centre in Johor. But while I have the technical & education skills, I have zero experience setting up a tuition centre. My biggest question is on how to get the first batch of students.
*
Depending on your marketing & advertising, prepare to have less than 5 students for a year or so.
bryantpl2
post Mar 6 2017, 01:38 PM

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Hi guys, I have successfully created an online brand and sustaining it with stable repeatable revenue. Currently setting up a new business model to promote the freelance digital marketing consultation/ services at Strikemygoal Digital Marketing. Do drop me a message should you think I can add value to your business. Any feedback is well come. Thank you.

Note: The website content will be updated from time to time, needs to get more creative juices flowing.
Singh_Kalan
post Mar 6 2017, 04:04 PM

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QUOTE(airwolf2010 @ Jan 6 2017, 04:36 PM)
Any sifu have experience on operating a minimart/supermarket/grocery shop?
Where to get contacts with those supplier?
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Buy over existing business. U ll get the existing supplier contact. But prepare to dump in of money to revitalized the business. 90% of people selling is because the business is going down or not viable anymore.
eyemeroll
post Mar 6 2017, 04:25 PM

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QUOTE(NightHeart @ Mar 6 2017, 10:07 AM)
Depending on your marketing & advertising, prepare to have less than 5 students for a year or so.
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I'm pretty worried about the acceptance. But looking at Klang Valley and Penang market, and considering the fact that we are lacking STEM students, I think this is the right time to introduce it.
NightHeart
post Mar 6 2017, 05:29 PM

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QUOTE(eyemeroll @ Mar 6 2017, 04:25 PM)
I'm pretty worried about the acceptance. But looking at Klang Valley and Penang market, and considering the fact that we are lacking STEM students, I think this is the right time to introduce it.
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Your market = STEM students. Lack of STEM students = lack of your market (small market). Not sure how you see it as the right time, unless you're thinking of being a pioneer. This is market even growing? Or shrinking?

Firstly, you need good teachers. Your teaching technique must be effective. That's a given because at the end of the year, the students result is the top factor to keep your existing students & attract new students. Secondly you need to work closely with the school so that you can advertise there. For high school level, as far as I know usually it's the students that choose which tuition center they wanna join, not the parents.

So big tuition centers can easily maintain being big because they're already well known, a lot of students are under them. When one has a lot of student, surely there'll be some top scorer that can be your testimonial. So in my area, the tuition centers will publish all their straight A students to attract new batch of students. Apply the concept of sheep mentality & capitalism here, it works beautifully. Students attract more students, more students = more straight As = more new batch.

I "graduate" from my tuition last time i.e studied all the way until I completed SPM. When I left, the Add Maths easily have nearly 1000 students. There's averagely 100 students per class & roughly 10 classes per week. Back then, it's RM50/month per student. So that's RM50k/month income from Add Maths alone.


donfutsal
post Mar 6 2017, 06:19 PM

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QUOTE(Singh_Kalan @ Mar 6 2017, 04:04 PM)
Buy over existing business.  U ll get the existing supplier contact.  But prepare to dump in of money to revitalized the business.  90% of people selling is because the business is going down or not viable anymore.
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agree rclxms.gif
eyemeroll
post Mar 6 2017, 09:04 PM

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QUOTE(NightHeart @ Mar 6 2017, 05:29 PM)
Your market = STEM students. Lack of STEM students = lack of your market (small market). Not sure how you see it as the right time, unless you're thinking of being a pioneer. This is market even growing? Or shrinking? 

Firstly, you need good teachers. Your teaching technique must be effective. That's a given because at the end of the year, the students result is the top factor to keep your existing students & attract new students. Secondly you need to work closely with the school so that you can advertise there. For high school level, as far as I know usually it's the students that choose which tuition center they wanna join, not the parents.

So big tuition centers can easily maintain being big because they're already well known, a lot of students are under them. When one has a lot of student, surely there'll be some top scorer that can be your testimonial. So in my area, the tuition centers will publish all their straight A students to attract new batch of students. Apply the concept of sheep mentality & capitalism here, it works beautifully. Students attract more students, more students = more straight As = more new batch.

I "graduate" from my tuition last time i.e studied all the way until I completed SPM. When I left, the Add Maths easily have nearly 1000 students. There's averagely 100 students per class & roughly 10 classes per week. Back then, it's RM50/month per student. So that's RM50k/month income from Add Maths alone.
*
There might be some confusion over the term here. When I say STEM, I'm referring to teaching electronics & critical skills in the form of embedded platform such as robots, arduino, raspberry pi etc. My focus would be to the kids as young as 6 years old to 17 years old.

So my target is very broad considering my motive is to get student to be more lenient towards STEM subject while they are young. Another point worth to note, secondary school have just started to introduce programming subject..

But yeah, your suggestion can still be applicable to my business model. Partnering with school is a good idea..

The worrying factor is of course, whether the parents are willing to invest in this area.


NightHeart
post Mar 6 2017, 11:15 PM

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QUOTE(eyemeroll @ Mar 6 2017, 09:04 PM)
There might be some confusion over the term here. When I say STEM, I'm referring to teaching electronics & critical skills in the form of embedded platform such as robots, arduino, raspberry pi etc. My focus would be to the kids as young as 6 years old to 17 years old.

So my target is very broad considering my motive is to get student to be more lenient towards STEM subject while they are young. Another point worth to note, secondary school have just started to introduce programming subject..

But yeah, your suggestion can still be applicable to my business model. Partnering with school is a good idea..

The worrying factor is of course, whether the parents are willing to invest in this area.
*
Owh those ka? For kids 6 to 17 years old, if it's not part of any exam subjects, IMO the market will remain really niche. Parents usually rather spend their money & their children's time on core examinable subjects. Unless the parents are engineers themselves & wanted to set the path early for their kids.
tjying95
post Mar 7 2017, 01:29 AM

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QUOTE(eyemeroll @ Mar 6 2017, 09:04 PM)
There might be some confusion over the term here. When I say STEM, I'm referring to teaching electronics & critical skills in the form of embedded platform such as robots, arduino, raspberry pi etc. My focus would be to the kids as young as 6 years old to 17 years old.

So my target is very broad considering my motive is to get student to be more lenient towards STEM subject while they are young. Another point worth to note, secondary school have just started to introduce programming subject..

But yeah, your suggestion can still be applicable to my business model. Partnering with school is a good idea..

The worrying factor is of course, whether the parents are willing to invest in this area.
*
Yeah, quite confusing when you said STEM, I was also thinking like science students... confused.gif Anyway, not sure today's parent would like their children to learn those. Most of them I think prefer arts like musical instruments, drawing etc. That part of the industry is blooming I might say.

That would be quite interesting. I myself started learning those in secondary school, by myself. If your students have technical mind like mine, it will be quite interesting. However, I am not sure how it will be played out. There is a robotic competition using Lego Mindstrom, called National Robotic Competition. There are already a few "tuition centres" that specialised in "teaching" (more like designing and just teaching how to execute to win) that.

But according to some, even when they had been competing and winning in primary schools, but those do not spark interest in them to continue later on. I think that might be a bit difficult. You may try in Klang Valley and Singapore, I am not sure if there is such market in Johor.

Just my $0.02 on something that I hoped existed where I grow up. console.gif

#Disclaimer: I am not actually business minded sweat.gif

This post has been edited by tjying95: Mar 7 2017, 01:31 AM
eyemeroll
post Mar 7 2017, 05:29 AM

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According to my research, there are few STEM Centre in Klang Valley and Penang. They are indeed successful since they are collaborating with school and organising a competition.

Maybe need to JV with the institution to be safe la.

Anyway, thanks for the feedback guys!
bryantpl2
post Mar 7 2017, 12:45 PM

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QUOTE(Singh_Kalan @ Mar 6 2017, 04:04 PM)
Buy over existing business.  U ll get the existing supplier contact.  But prepare to dump in of money to revitalized the business.  90% of people selling is because the business is going down or not viable anymore.
*
Retail is having the hardest time now and you still need to compete with hypermarket and retail grocery store giant like 99mart who has hundreds of outlets. I have started a thread about glocery store months ago and you may get some insights from the comments left by our fellow netizen.

I'd consider you stand a better chance by focusing to serve your local community where convenience/ availability is the first priority (NOT PRICE). Should you need consultation on how to set up an online business model and increase the chances of success (e.g., how to market you store to the local community online, selling products online and bringing them to your store), you may contact Strikemygoal digital marketing consultant

This post has been edited by bryantpl2: Apr 4 2017, 02:00 PM
bryantpl2
post Mar 7 2017, 01:12 PM

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QUOTE(zwize @ Feb 18 2017, 01:37 AM)
Hello everyone, I've been researching on fulfilment services in Malaysia because I want to start an online business to sell power banks (less than 1kg).
I am looking for a company that handles storage and shipping and I'm very excited in Fulfilment by Lazada's prices. However I can't really find any other companies that're offering similar services for prices I can accept. Currently the companies that've replied me are DCR Marketing and Quantium Solutions and the shipping prices are around RM10 with another RM250 storage fee.

Anyone know any better storage + shipping companies or have a proposed solution? 

Thanks so much in advance smile.gif
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You may check out Post Malaysia, it still has the best network in Malaysia.

http://www.thesundaily.my/news/2159547

Should you need the A-Z advice on setting up an online business, including digital marketing and building brand reputation online, please contact Digital Marketing consultant for small businesses

This post has been edited by bryantpl2: Apr 4 2017, 02:01 PM
bryantpl2
post Mar 7 2017, 01:15 PM

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QUOTE(airwolf2010 @ Jan 6 2017, 04:36 PM)
Any sifu have experience on operating a minimart/supermarket/grocery shop?
Where to get contacts with those supplier?
*
Retail is having the hardest time now and you still need to compete with hypermarket and retail grocery store giant like 99mart who has hundreds of outlets. I have started a thread about glocery store months ago and you may get some insights from the comments left by our fellow netizen.

I'd consider you stand a better chance by focusing to serve your local community where convenience/ availability is the first priority (NOT PRICE). Should you need consultation on how to set up an online business model and increase the chances of success (e.g., how to market you store to the local community online, selling products online and bringing them to your store), you may contact Strikemygoal digital marketing consultant

This post has been edited by bryantpl2: Apr 4 2017, 02:02 PM
bryantpl2
post Mar 7 2017, 01:18 PM

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QUOTE(NightHeart @ Jan 29 2017, 10:54 PM)
You've done a great job building your company to what it is today.

Not putting money as the #1 priority is a key element in running any business. Find a greater purpose for your company besides money. At least you don't get demotivated or depressed so easily when you don't see the money coming in as expected. Then as an employer, it's really good if you have the attitude to care for your staffs' future too. They took the leap of faith & decided to work for you, especially those who were there playing crucial roles during your hard times. For SME, human resource is always the biggest challenge; to get great people working loyally for you. So once you are blessed with good workers, do take care of them well. There's no 1 size fits all solution for motivation, so take some time to personally know your staffs & learn what motivates them. I've personally seen staffs grumbling whenever their company organized overseas trip lol cause travelling just ain't their cup of tea. But for some people, getting to opportunity to travel is like a once in a life time chance. Highly motivated staffs leads to high morale, high morale creates positive ambiance at work, positive ambiance creates work harmony.

As for your SG plan, I think the more possible step is to begin with your existing clients who has business activity in SG. Get their advice. Good chance for you to bond with your client as well.

You don't need to give out shares or part of your company to get funding. What do you want? A loan with lower interest rates than banks. What do investors want? An investment with higher ROI than banks. Just connect these 2 dots & you'll get your funding without giving out any part of your company.

All the best for you in 2017 as well.
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Very well said! rclxms.gif

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