Getting a business license is to gain accountability (with your tax collector and accounts), and credibility (so your prospects don't think you're a one-off scammer)

Otherwise, consider doing it LYN style in garage sales or in lelong to earn a living as an individual

If you are just selling stuffs that accepts payment through paypal, for example, you may not need a business license. And your earnings don't even need to be declared. Transfer your money into a debit card and swipe away to cash out. Our government is so lacking behind in e-commerce that these transactions are basically untraceable.

However, several factors work in favour of you with a business license: you can order products in bulk at wholesale prices. Normally wholesalers don't deal with individuals but business entities.

I had followed yr guide to get my Sole prop license done

Taxation wise, I am still clueless, as i would have half income from my ex company, and half from my business...but since business has been slow, i would be claiming a loss. Bought a book on how to do taxation for small businesses....too lazy to read!

I use OCBC in Puchong. RM1000 with no referral. Cute account managers, fast service, and I just gave them the printed Borang D from SSM.
I have the ATM card, the Phone banking, the Islamic account (for good interest!)

If you are working full time and decide to do some freelancing on your own free time, it make sense not to register as a business entity.

However, if you were to do it full time, you should register your business. COmpanies prefer dealing with business instead of individuals because of taxation audits. They may get into trouble as giving money to a person's personal bank account can look like corruption just to avoid tax.

OCBC charges money for online transactions. So i didn't go for it.
If anyhthing, i just issue cheque payments and phone banking to check on status.