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Anonymous

28 Jul 2020

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Should I register my business and how should I go about doing it?

I am currently selling stuff on local platforms to earn some extra income on top of my salary. Thinking of registering my company, but not sure if it's advisable to do so cause revenue is very low (<$8k per year), as i'm not actively managing it.

Also, I'm not sure how to prepare the books if the business needs to be registered with ACRA.

Any advice?

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28 Jul 2020

Def at Abc

Hi there,

you can check out ACRA's page for a start https://www.acra.gov.sg/how-to-guides/before-yo... on whether you need to register.

It also depends on the kind of business structure you are adopting.Most individuals/small businesses (1 person) prefer to start with sole proprietorship, though there are pros and cons for every structure.

Hope the above helps!

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