Starting an home-based business

[firsttimebuyer]

Hi everyone, I would like to seek some advice here.

This may sound silly, so please don’t mock me. I acknowledged that I am very inexperienced in life but that’s why I am here seeking advice from the many gurus and experts here.

I recently have been thinking of registering (incorporating a company) to start a home-based online business of my own. I had done my research for about a month (reading ACRA/IRAS websites, watching youtube videos, signing up for e-commerce courses and also contacted corporate secretarial firms to look for a company secretary and help me incorporate a company). As for why, my reasons for doing so are complex and not just about solely making money. I also have verified that there is no conflict of interest (as it is an entirely different industry), and I do not plan to use company resources and my daily working hours (it is not possible in any case). I have also started contacting suppliers and vendors to look at logistics arrangements.

But so far, I have not pulled the trigger or implemented anything yet.

I am nearing 40 and it is harder for me to find a job now. I have been in my current job (Office admin role) for slightly more than 9 years. I cannot rise any further, no matter how hard I tried. Though technically neither civil service nor public service, my organisation is a privately-incorporated company fully owned by a government body. Each employee has a job grade tied to him or her and there is a salary range (minimum to maximum) tied to the job. I have already hit the maximum salary range and know that I cannot get any more salary increases unless I get a title promotion or an upgrade in job grade. I have attended career counselling and implemented all the advice: attended skills-relevant courses (e.g Project Management courses, advanced excel skills) and used such skills in my projects, and mentioned it to my management, and also volunteered for new projects and initiatives to boost my portfolio. I was praised with empty platitudes but not with what I wanted (which I had mentioned to my bosses before). For me personally, I personally feel resentful that some projects that I have carefully created and groomed were taken away and given to other colleagues who are either being groomed for promotion or newly promoted, in order to boost their profile/portfolio.

I have always been obsessed with the FIRE movement and made some investments in stocks, REITS, and SGS, various bonds. But I am also exploring to start home-based online business of my own. It is not just about solely making a side income but also, something I can call my own and can’t be taken away from me (like my projects in my portfolio in my full-time job).

I think right now, my fear is the organisation I work for. I have done my research into my organisation’s policy on conflict of interest and there isn’t any but I also looked carefully at my employment contract and it was extremely explicit that I cannot engage in any other kind of work, even if I am working for free. I am planning to consult a lawyer about it to see my options.

Of course, I could go ahead and just register my company but I am not sure of my organisation does regular checks through ACRA using staff name and NRIC. I know my organisation has full time staff that does nothing but check social media (Yotube, facebook, Instagram, twitter) for people that mention the organisation on social media, so I am not very sure if they do this to regular conduct background check on current employees.

Alternatively, I can choose not to incorporate a company but just trade under my own name.

I don’t plan to tell anyone in my organisation ever. But I am also wary that if I report any extra income (provided that I even manage to make a profit) to IRAS, word would get back to my organisation.



Has anyone ever been in a similar situation as me? I was wondering if so, how did you go about it?

 

[andyhtc]

Register in your parent name is safer.

Sometimes you don't even need to register a company if small scale.

Don't lose money in your business.

Good luck!

 

[reddevil0728]

Hi everyone, I would like to seek some advice here.

This may sound silly, so please don’t mock me. I acknowledged that I am very inexperienced in life but that’s why I am here seeking advice from the many gurus and experts here.

I recently have been thinking of registering (incorporating a company) to start a home-based online business of my own. I had done my research for about a month (reading ACRA/IRAS websites, watching youtube videos, signing up for e-commerce courses and also contacted corporate secretarial firms to look for a company secretary and help me incorporate a company). As for why, my reasons for doing so are complex and not just about solely making money. I also have verified that there is no conflict of interest (as it is an entirely different industry), and I do not plan to use company resources and my daily working hours (it is not possible in any case). I have also started contacting suppliers and vendors to look at logistics arrangements.

But so far, I have not pulled the trigger or implemented anything yet.

I am nearing 40 and it is harder for me to find a job now. I have been in my current job (Office admin role) for slightly more than 9 years. I cannot rise any further, no matter how hard I tried. Though technically neither civil service nor public service, my organisation is a privately-incorporated company fully owned by a government body. Each employee has a job grade tied to him or her and there is a salary range (minimum to maximum) tied to the job. I have already hit the maximum salary range and know that I cannot get any more salary increases unless I get a title promotion or an upgrade in job grade. I have attended career counselling and implemented all the advice: attended skills-relevant courses (e.g Project Management courses, advanced excel skills) and used such skills in my projects, and mentioned it to my management, and also volunteered for new projects and initiatives to boost my portfolio. I was praised with empty platitudes but not with what I wanted (which I had mentioned to my bosses before). For me personally, I personally feel resentful that some projects that I have carefully created and groomed were taken away and given to other colleagues who are either being groomed for promotion or newly promoted, in order to boost their profile/portfolio.

I have always been obsessed with the FIRE movement and made some investments in stocks, REITS, and SGS, various bonds. But I am also exploring to start home-based online business of my own. It is not just about solely making a side income but also, something I can call my own and can’t be taken away from me (like my projects in my portfolio in my full-time job).

I think right now, my fear is the organisation I work for. I have done my research into my organisation’s policy on conflict of interest and there isn’t any but I also looked carefully at my employment contract and it was extremely explicit that I cannot engage in any other kind of work, even if I am working for free. I am planning to consult a lawyer about it to see my options.

Of course, I could go ahead and just register my company but I am not sure of my organisation does regular checks through ACRA using staff name and NRIC. I know my organisation has full time staff that does nothing but check social media (Yotube, facebook, Instagram, twitter) for people that mention the organisation on social media, so I am not very sure if they do this to regular conduct background check on current employees.

Alternatively, I can choose not to incorporate a company but just trade under my own name.

I don’t plan to tell anyone in my organisation ever. But I am also wary that if I report any extra income (provided that I even manage to make a profit) to IRAS, word would get back to my organisation.



Has anyone ever been in a similar situation as me? I was wondering if so, how did you go about it?

Consult lawyer is not free one leh.

btw what business you looking to do?

very long post might have missed it

 

[zeroX26]

Hi everyone, I would like to seek some advice here.

This may sound silly, so please don’t mock me. I acknowledged that I am very inexperienced in life but that’s why I am here seeking advice from the many gurus and experts here.

I recently have been thinking of registering (incorporating a company) to start a home-based online business of my own. I had done my research for about a month (reading ACRA/IRAS websites, watching youtube videos, signing up for e-commerce courses and also contacted corporate secretarial firms to look for a company secretary and help me incorporate a company). As for why, my reasons for doing so are complex and not just about solely making money. I also have verified that there is no conflict of interest (as it is an entirely different industry), and I do not plan to use company resources and my daily working hours (it is not possible in any case). I have also started contacting suppliers and vendors to look at logistics arrangements.

But so far, I have not pulled the trigger or implemented anything yet.

I am nearing 40 and it is harder for me to find a job now. I have been in my current job (Office admin role) for slightly more than 9 years. I cannot rise any further, no matter how hard I tried. Though technically neither civil service nor public service, my organisation is a privately-incorporated company fully owned by a government body. Each employee has a job grade tied to him or her and there is a salary range (minimum to maximum) tied to the job. I have already hit the maximum salary range and know that I cannot get any more salary increases unless I get a title promotion or an upgrade in job grade. I have attended career counselling and implemented all the advice: attended skills-relevant courses (e.g Project Management courses, advanced excel skills) and used such skills in my projects, and mentioned it to my management, and also volunteered for new projects and initiatives to boost my portfolio. I was praised with empty platitudes but not with what I wanted (which I had mentioned to my bosses before). For me personally, I personally feel resentful that some projects that I have carefully created and groomed were taken away and given to other colleagues who are either being groomed for promotion or newly promoted, in order to boost their profile/portfolio.

I have always been obsessed with the FIRE movement and made some investments in stocks, REITS, and SGS, various bonds. But I am also exploring to start home-based online business of my own. It is not just about solely making a side income but also, something I can call my own and can’t be taken away from me (like my projects in my portfolio in my full-time job).

I think right now, my fear is the organisation I work for. I have done my research into my organisation’s policy on conflict of interest and there isn’t any but I also looked carefully at my employment contract and it was extremely explicit that I cannot engage in any other kind of work, even if I am working for free. I am planning to consult a lawyer about it to see my options.

Of course, I could go ahead and just register my company but I am not sure of my organisation does regular checks through ACRA using staff name and NRIC. I know my organisation has full time staff that does nothing but check social media (Yotube, facebook, Instagram, twitter) for people that mention the organisation on social media, so I am not very sure if they do this to regular conduct background check on current employees.

Alternatively, I can choose not to incorporate a company but just trade under my own name.

I don’t plan to tell anyone in my organisation ever. But I am also wary that if I report any extra income (provided that I even manage to make a profit) to IRAS, word would get back to my organisation.



Has anyone ever been in a similar situation as me? I was wondering if so, how did you go about it?

Consult your HR on having your own business / own source of income outside. Do you know civil servants (apart from those in Mindef in uniform) are actually allowed to moonlight as long they abide by certain guidelines, including starting home businesses? Don't assume its against your organisation rules. Case in point: My SO is a civil servant. She wanted to experiment with a small home-baking biz and she spoke to HR about it. HR told her its ok as long certain rules are met (nothing complex nor were there problematic hoops to jump over). She was able to try it out and concluded its not for her.

 

[blasterlord2]

A friend of mine was in a similar situation as yours and he went ahead to tell management about it. They approved because there is no conflict of interest.

 

[firsttimebuyer]

A friend of mine was in a similar situation as yours and he went ahead to tell management about it. They approved because there is no conflict of interest.

Consult your HR on having your own business / own source of income outside. Do you know civil servants (apart from those in Mindef in uniform) are actually allowed to moonlight as long they abide by certain guidelines, including starting home businesses? Don't assume its against your organisation rules. Case in point: My SO is a civil servant. She wanted to experiment with a small home-baking biz and she spoke to HR about it. HR told her its ok as long certain rules are met (nothing complex nor were there problematic hoops to jump over). She was able to try it out and concluded its not for her.

Just to be on the safe side, i thought it was better for me to spend the weekend to first check the organisation’s written policies other than my employment contract. Main reason I did it is because I believe my management will not be supportive (they literally have a sinkie pwn sinkie attitude, as the last time I asked for their help was due to my elderly parents falling sick and I explained it to my management, asking if I could shift my working hours slightly, not even asking to cut short my hours but still working full hours with different timings, and I was neither front line nor customer-facing nor in operation role but merely office administration, they refused to help me and even downgraded me in my performance appraisal).

Hence, I did not approach my management first. Unfortunately, according to company written policy, while "external appointments" were allowed so long as immediate management approved (I.e being invited to sit on the boards or appointed as directors of other organisations), it is written explicitly there is no room whatsoever for part-time jobs or side businesses. Examples given included part-time retail jobs and part-time drivers, or any other kind of freelance jobs, which all were not allowed.

I still want to go ahead but I am taking some time now to think it through.

 

[zeroX26]

Just to be on the safe side, i thought it was better for me to spend the weekend to first check the organisation’s written policies other than my employment contract. Main reason I did it is because I believe my management will not be supportive (they literally have a sinkie pwn sinkie attitude, as the last time I asked for their help was due to my elderly parents falling sick and I explained it to my management, asking if I could shift my working hours slightly, not even asking to cut short my hours but still working full hours with different timings, and I was neither front line nor customer-facing nor in operation role but merely office administration, they refused to help me and even downgraded me in my performance appraisal).

Hence, I did not approach my management first. Unfortunately, according to company written policy, while "external appointments" were allowed so long as immediate management approved (I.e being invited to sit on the boards or appointed as directors of other organisations), it is written explicitly there is no room whatsoever for part-time jobs or side businesses. Examples given included part-time retail jobs and part-time drivers, or any other kind of freelance jobs, which all were not allowed.

I still want to go ahead but I am taking some time now to think it through.

Actually, what's stopping you from seeking employment with another company since you are so unhappy in this current one? No try you won't know leh, seriously.

 

[DevilPlate]

Actually, what's stopping you from seeking employment with another company since you are so unhappy in this current one? No try you won't know leh, seriously.

Iron rice bowl?

 

[reddevil0728]

Iron rice bowl?

then that's the trade-off one need to accept

 

[zeroX26]

Iron rice bowl?

Got many other organisations which are iron rice bowl but more flexi HR rules leh.

 

[direbmem]

The company sounds like Ez link, SG Pools and CAG.

 

[Eternit]

What biz do you plan to start exactly? Who are your target clients, what's your product / services?

 

[donut88]

Hi everyone, I would like to seek some advice here.

This may sound silly, so please don’t mock me. I acknowledged that I am very inexperienced in life but that’s why I am here seeking advice from the many gurus and experts here.

I recently have been thinking of registering (incorporating a company) to start a home-based online business of my own. I had done my research for about a month (reading ACRA/IRAS websites, watching youtube videos, signing up for e-commerce courses and also contacted corporate secretarial firms to look for a company secretary and help me incorporate a company). As for why, my reasons for doing so are complex and not just about solely making money. I also have verified that there is no conflict of interest (as it is an entirely different industry), and I do not plan to use company resources and my daily working hours (it is not possible in any case). I have also started contacting suppliers and vendors to look at logistics arrangements.

But so far, I have not pulled the trigger or implemented anything yet.

I am nearing 40 and it is harder for me to find a job now. I have been in my current job (Office admin role) for slightly more than 9 years. I cannot rise any further, no matter how hard I tried. Though technically neither civil service nor public service, my organisation is a privately-incorporated company fully owned by a government body. Each employee has a job grade tied to him or her and there is a salary range (minimum to maximum) tied to the job. I have already hit the maximum salary range and know that I cannot get any more salary increases unless I get a title promotion or an upgrade in job grade. I have attended career counselling and implemented all the advice: attended skills-relevant courses (e.g Project Management courses, advanced excel skills) and used such skills in my projects, and mentioned it to my management, and also volunteered for new projects and initiatives to boost my portfolio. I was praised with empty platitudes but not with what I wanted (which I had mentioned to my bosses before). For me personally, I personally feel resentful that some projects that I have carefully created and groomed were taken away and given to other colleagues who are either being groomed for promotion or newly promoted, in order to boost their profile/portfolio.

I have always been obsessed with the FIRE movement and made some investments in stocks, REITS, and SGS, various bonds. But I am also exploring to start home-based online business of my own. It is not just about solely making a side income but also, something I can call my own and can’t be taken away from me (like my projects in my portfolio in my full-time job).

I think right now, my fear is the organisation I work for. I have done my research into my organisation’s policy on conflict of interest and there isn’t any but I also looked carefully at my employment contract and it was extremely explicit that I cannot engage in any other kind of work, even if I am working for free. I am planning to consult a lawyer about it to see my options.

Of course, I could go ahead and just register my company but I am not sure of my organisation does regular checks through ACRA using staff name and NRIC. I know my organisation has full time staff that does nothing but check social media (Yotube, facebook, Instagram, twitter) for people that mention the organisation on social media, so I am not very sure if they do this to regular conduct background check on current employees.

Alternatively, I can choose not to incorporate a company but just trade under my own name.

I don’t plan to tell anyone in my organisation ever. But I am also wary that if I report any extra income (provided that I even manage to make a profit) to IRAS, word would get back to my organisation.



Has anyone ever been in a similar situation as me? I was wondering if so, how did you go about it?

It's ok.

I'm in public service. I got colleagues doing outside jobs. As long as you declare and if yr side line is within the guidelines, it's ok.

My colleague is Karate instructor outside and teaches classes. No problem at all. He just declare to HR.

The most important thing for u to do is to declare it. If u don't declare, it becomes your fault. If u declare, the onus is on HR side.

 

[reddevil0728]

It's ok.

I'm in public service. I got colleagues doing outside jobs. As long as you declare and if yr side line is within the guidelines, it's ok.

My colleague is Karate instructor outside and teaches classes. No problem at all. He just declare to HR.

The most important thing for u to do is to declare it. If u don't declare, it becomes your fault. If u declare, the onus is on HR side.

actually may not be necessary ok. if declare they say no. then LLST not really ok ma