Any bros in business here?

[zjared]

I suppose there are a lot of taokways here. Do you find it is getting more and more stressful to do business in Singapore? I really feel like selling off everything in Singapore and relocate somewhere else.

[thaiedwin]

Well....Thanks to the last GE Levy has been increasing till crazy....Business slowing down......donno all the people going where....sigh.....

[spyder79]

Time to do investment and increase your portfolio ...

[zjared]

If everything is going wrong, how would investments go right?

[zjared]

Government don't really care about SMEs, they can only hear the good things and the big boys.

[thaiedwin]

Big boys don get really bother about these....Even the SME grants also not enough....even constructions also having manpower issues

Government don't really care about SMEs, they can only hear the good things and the big boys.

[zjared]

Talking about grants, only this business of mine is racking in profits. I own a private college, serviced offices, fish farm and software & hardware business. Only this is racking in loads of revenue because it taps on government grants.

[zjared]

Anyone do business in Malaysia? Is it business friendly? Can give me some advice?

[thaiedwin]

Malaysia is business friendly ..... but the thing is if u need permits u need a Muslim shareholder to get it easier and also if u want government projects only a Muslim can get for u....

[MarkCWQ]

I'm doing business in construction. It's tough. Have started looking around for other opportunities.

[keltanky]

Lucky you guys are not in retail lor... it's even worst...

[Odessus]

How can a successful business model be based on tapping government grants? I'm struggling to understand this. Just thinking out loud...

[zjared]

Odessus,

 

Government give you back $60k for every $100k you spend on productivity innovation products each year for 3 years. Each company with 3 CPF paying employees get $180k in total.

 

Companies will come to us to increase their productivity by automating some manual processes because it is getting very costly to do business here as wages are rising. Main reason is because Government is footing most of the bills.

 

I started this 5 years ago when wages are still low, basically is more for my own company to run as slim as possible. I started this because there are no perfect solutions available in the market because developers are not businessman, businessman are not developers. At first we didn't do very well but these couple of years, because of the grant, we are generating a lot more invoices and people also start to believe they need to slim down the company. I seriously don't know how long this trend will last but among my companies, this is the shining horse at this moment.

 

In case you are wondering, such solutions don't come cheap. Each turn key project at least starts from $60,000. After Government grant, it cost companies only $24000. We are able to cut down manpower by at least 1-2 for a 5 man company. Companies ROI in less than 6 months time.

[zjared]

My friends in retail making good profit every month. Racking in like at least $50k after deducting all the expenses. I mean not too bad for someone who sells clothes from Thailand.

[spyder79]

If everything is going wrong, how would investments go right?

Looking into Forex Market. Currency rise or fall. u also profit....

[MarkCWQ]

Invest in properties!

[Old-MAN]

OMG...if every company slim down and use "technologies" to substitute the warm body.....and got GOV's full sarpot....then in the near future, we will have 50% unemployment.......arhh...........

[Odessus]

Odessus,

Government give you back $60k for every $100k you spend on productivity innovation products each year for 3 years. Each company with 3 CPF paying employees get $180k in total.

Companies will come to us to increase their productivity by automating some manual processes because it is getting very costly to do business here as wages are rising. Main reason is because Government is footing most of the bills.

I started this 5 years ago when wages are still low, basically is more for my own company to run as slim as possible. I started this because there are no perfect solutions available in the market because developers are not businessman, businessman are not developers. At first we didn't do very well but these couple of years, because of the grant, we are generating a lot more invoices and people also start to believe they need to slim down the company. I seriously don't know how long this trend will last but among my companies, this is the shining horse at this moment.

In case you are wondering, such solutions don't come cheap. Each turn key project at least starts from $60,000. After Government grant, it cost companies only $24000. We are able to cut down manpower by at least 1-2 for a 5 man company. Companies ROI in less than 6 months time.

With no specific pinpoint to anyone or any business, I hear horror stories of consultants feasting on PIC from my circle of business owners friends.

[MarkCWQ]

There are lots of SME making use of PIC. I know of a coffee shop owner setting up a website for his coffee shop just to get the grant money. Even in my industry, I know of competitors buying new machinery etc.

[zjared]

Technology is used for the purpose of precision, accuracy. If manpower can be substitute for, why not? No MCs, no mistake, no leave, no pay.

[Odessus]

I'm not so sure if companies are now seeing the need to slim down but rather attracted to the cash bonus from PIC.

[Odessus]

Technology is used for the purpose of precision, accuracy. If manpower can be substitute for, why not? No MCs, no mistake, no leave, no pay.

Just saying. Over reliance of technology also increases risk of catastrophic disasters when these technologies fail. You'll need all your employees to fall sick together to experience the same.

[MarkCWQ]

Technology is used for the purpose of precision, accuracy. If manpower can be substitute for, why not? No MCs, no mistake, no leave, no pay.

It's a vicious cycle. Machinery has pro points as you mentioned, it's good for the boss now. But as Ah San mentioned, what happens when unemployment increases and nobody can afford to buy products made by machines when they are out of jobs?

AMG engines, built by hand by one man!

[MarkCWQ]

I'm not so sure if companies are now seeing the need to slim down but rather attracted to the cash bonus from PIC.

Agree, more often than not, companies are actually abusing the grant.

[zjared]

The purpose is for you to increase productivity. Because there is a $15000 bonus to it, that's why you see the kopi boss also make website. Actually he should tie in an attendance system with payroll. Next will be his point of sales to accounting software. In this way, there will be no mistakes but sometimes people do not want to use such system because the revenue is too accurate which result in higher profit and taxes.