How’s an extract from the radio.  ,
Andrea Heng:
What is the financial aspect of that (viability ) assessment that I need to take into account?
David Gan:
What a lot of people do not know is beyond… setting (up ) our business, which just costs you a couple hundred dollars, you have to maintain and manage it on an annual basis.
Therefore, when people set up a business object, they fail to realize that, hey, I have to assign a business secretary. That’s a cost average of about maybe anywhere from S$ 500 to S$ 800 a year. And finally, how are you going to maintain your ebooks on a month-to-month basis?
For F&, B businesses, we have a lot of invoices coming in because you are talking about supplies, raw products, ( and ) materials from different suppliers. So those bookkeeping processes, are you well aware ( of ) how you should keep them?
Andrea:
People frequently mistake startup costs for things like the computer you need to pay for your business’s operations, for instance, billing the tools you need to do it on.
What options do I have for funding in terms of what I can develop for money?
David: