The Department for Enterprise promotes a range of schemes and initiatives to encourage new businesses to start up on the Island. A cash-flow analysis is especially important since you could be selling your products like hotcakes, but if you won’t be paid for six months, you could still run out of money and have to close your doors. Taxes with businesses can get complicated, so you’ll need (at a minimum) a tax advisor.
Incidentally, helping others grow their wealth is also a good way to grow your own financial worth as a side business idea. Plan to grow your small business beyond yourself (one person) and then sell it, then a Private Limited Company would likely be the most suitable structure.
The Indonesian government set a high requirement in order to attract large scale companies and investors, while protecting smaller sized local businesses. To start a limited company, you need to have a registered business address. The success of your business is primarily dependent on your ability to sell your product or service.
Or maybe before you start a business, you choose to build a following on Instagram so that you have an audience when the time to launch comes. At the outset of any business venture with multiple owners, time should be taken to discuss what happens if there are problems.
If you are planning to get into a completely new business, it would really help if you got a second opinion from someone who knows the market and the challenges involved. Whether you need to register your business, obtain licences and permits or start paying taxes we can help to get your business up and running smoothly.