The Trinituner Entrepreneurship/Self Employed/ Side Hustle Thread

[Chimera]

strange enuff, i google what "Accordion type motorised gates" and didnt find anything at all, i guess they call it something else

[Rooki3]

U been to china??

U went one of those expos or sumtin

[Chimera]

yeah i was in hong kong and china in october for asia world, hk fair and canton fair

[Rooki3]

Errr, if you u don't mind me asking, wais airfare like to get to china & do I need some sorta VISA??

[Chimera]

depends when you booking for, once its around the fairs..airfare is around 20k upwards for economy
i booked 2 months before and paid $2500 US for economy
a week before the fair,it was 5000 US for economy seats
trinidad to new york to miami to van couver to hong kong
return was hong kong to los angeles to miami to trinidad

around the fairs, hotel prices are crazy, holiday inn in hong kong which is $1000 to $1500HK(almost same as TT) in off peak times, was $3000-$4000 per night for the 3 days of the fair, and hardly had any available rooms




and yes you need a chinese visa & US & Canadian visa (as you have to pass tru the USA and depends on what flight u take..u hadda pass tru canada)

for the chinese visa you hadda show the receipts/printed itinerary that you done pay for the flight and that you done book hotel plus the other usual photo requirements
i think the fee was 400 or 600 for double entry

You hadda plot out your movements before so you know how much entrys you gonna apply for.
If it's your first time, the most you gonna get is a double entry and you also have a time stipulation to leave the country within 30 days of entry.

I wanted to go from from Hong Kong to China (1st entry used), then back to Hong Kong, then back To china for a 2nd fair (2nd entry would have been used) then back to Hong Kong and back to china again (3rd entry would have been needed)

they only gave me a double entry visa in Trinidad tho, they told me you could apply for an additional entry while in Hong Kong but I ended up not going to the 3rd fair so didn't bother.

[Chimera]

btw- first class seats a week before the fair in october was 30k USD.

[Rooki3]

thanx, very helpful info

[Sanctifier]

...YOU have to believe in it it so bad you could taste it-literally, you refuse to stop, when you look at the blank canvas that others see you see a masterfcukingpeice.You know how it WILL END -you have no idea how you will make it happen-but happen it will.

You will never be so exhausted and so energized at the same time.
So scared you could puke-but 100% sure that you on the right track.
Look at your son sleeping and KNOW without a shred of doubt,why you do what you do...

Well said, my friend... WELL SAID!
My past... (self-employed for 31 years and counting)... My future!

A couple tips though...
EMPLOYEES are people too. Treat them as more than just a smart "HR effort"... but ALWAYS be careful with your $$$ because dishonest employees can "sink" your business VERY quickly.

NEVER go into business with family or friends if you can avoid it... You may loose both. It's the quickest way to find BIG trouble... for a LONG time.

If you MUST have shareholders... Arrange the divorce BEFORE the wedding... Less headaches & misunderstandings that way.

...and the MOST important of all... Once the feasability study is accurate and positive... NEVER GIVE UP!...

There are honest and dishonest businesspersons. You have to decide which one you are going to be.

Well said!

[speedfreak99]

Stumbling across this thread tonight has been a real blessing and has really inspired me.

A couple of weeks ago, I unknowingly began the process starting my own business.
I am currently working on a Blog. I also started laying the groundwork for a related content based (static) website, which will host a virtual store offering products within the same niche, catered to driven traffic. So far I have created a YouTube account, Facebook, twitter and connected them all.

During this process i realized that i possess a passion for photography and video production that i never even knew that i had. Right now...(deep breath) i am creating and publishing content (audio/visual), establishing links (local/international), registering the company name, researching business & customs law, logistics etc.. Yall know the drill.

This process has also lead me to discover that i have the resources to "monetize" other stuff (e.g catering, event planning) that i have a background and social capital in. I also now realize that i can string ALL (good and bad) of my life experiences and draw from them. I am about 25% completion on the first phase of my plan but i still believe that i can share the knowledge or experiences i have gained thus far to anyone attempting something similar. So to whosoever..feel free and you're welcome.

EVERYTHING i read in this thread is veritas. From what i have experienced directly and vicariously, i can say that "the highs and lows" of being self employed is striking when compared to alot of the subordinate stuff.

[varung]

can anyone guide me as to the tax return form to use for a partnership where the partners ALSO earn emolument income as they are also permanently employed as well.
i am not sure which form applies from BIR website
http://www.ird.gov.tt/load_page.asp?ID=6

[john101]

anyone have experience dealing with http://www.nedco.gov.tt ?

do anyone know where someone can get financing for a new business?

[john101]

i just called nedco they said you have to have 60-75% download to get the loan, why in gods name would i have 60-75% and go to them for a loan.

nedco makes no sense......

[marcus8860]

thats alot of load there john =] ...... dont worry pal just find something that requires a smaller investment and take small steps ... find something you really like and be real good at it =]

[john101]

thx marcus8860

[Casadoma]

strange enuff, i google what "Accordion type motorised gates" and didnt find anything at all, i guess they call it something else

Is retractable automatic gates you probably looking for

[hustla_ambition101]

Was just discussing with a friend starting up my own business. My main issue, more like my only issue is finding a nice spot to start production, I've got a lot of time on my hands now and since employment isn't forthcoming I think I need to focus on getting land. Anybody know of Agriculture land available for leasing or rental at a reasonable price

[Sanctifier]

^ ^ ^ Good luck with that, my friend! I've been trying for over three years for State or Private land.
Even if your "uncle" is a Minister, these days with all the scandals going on, that might not help either.
Our Company is formed... Closed escrow on land over four months ago... still no word yet... Still Hoping!

Your main problem is the sh!t people sell as so called "agricultural land"... usually for $Millions!
This is what you hear these days...

Water... Maybe a stream nearby... or pay to connect to WASA 1/4 to 1/2 mile away... $$$$
Electricity... Now you have to buy a generator for $150k +... as if you don't have enough start-up costs...
Access road... Usually non-existant... or in terrible condition... More $$$

Then they tell you the land is "slightly undulating"... Meaning you can't use 1/4 to 1/3 of it unless you buy mountain climbing gear... or "terrace" with heavy equipment... More $$$$.

Flooding... Either part (or most) of the land floods when it rains... or the access road floods... so you can't get to your farm either...

BTW after all that, you must get EMA Clearance just to clear trees from the land before you start to produce... and another before you start building or adding infrastructure... or else NO funding... from anybody!

Other major issues:

Praedial larceny... LIVE ON SITE...with a shotgun!... especially in very remote areas... or build a house for your Farm Manager... $$$$$
BTW Gov't is offering grants to cover some costs for fencing / alarm & video systems etc.

Financing.. The ADB only gives loans with reasonable % for very secure projects...
e.g. If you want to go with a Greenhouse I heard they only offer 35% funding... I'm going to find out myself tomorrow.
BTW the banks are MUCH higher... They start at 8%+

Marketing... NAMDEVCO can help... but they still suffer from serious limitations...

After all that we are still trying... and WAITING! As I said before... Good luck!

My $0.02¢

[Chimera]

speaking of greenhouse, gonna try to build one in my backyard next 2 weeks, wanna try a small easy project.

will post pics if i actually get it done.

[hustla_ambition101]

^ ^ ^ Good luck with that, my friend! I've been trying for over three years for State or Private land.
Even if your "uncle" is a Minister, these days with all the scandals going on, that might not help either.
Our Company is formed... Closed escrow on land over four months ago... still no word yet... Still Hoping!

Your main problem is the sh!t people sell as so called "agricultural land"... usually for $Millions!
This is what you hear these days...

Water... Maybe a stream nearby... or pay to connect to WASA 1/4 to 1/2 mile away... $$$$
Electricity... Now you have to buy a generator for $150k +... as if you don't have enough start-up costs...
Access road... Usually non-existant... or in terrible condition... More $$$

Then they tell you the land is "slightly undulating"... Meaning you can't use 1/4 to 1/3 of it unless you buy mountain climbing gear... or "terrace" with heavy equipment... More $$$$.

Flooding... Either part (or most) of the land floods when it rains... or the access road floods... so you can't get to your farm either...

BTW after all that, you must get EMA Clearance just to clear trees from the land before you start to produce... and another before you start building or adding infrastructure... or else NO funding... from anybody!

Other major issues:

Praedial larceny... LIVE ON SITE...with a shotgun!... especially in very remote areas... or build a house for your Farm Manager... $$$$$
BTW Gov't is offering grants to cover some costs for fencing / alarm & video systems etc.

Financing.. The ADB only gives loans with reasonable % for very secure projects...
e.g. If you want to go with a Greenhouse I heard they only offer 35% funding... I'm going to find out myself tomorrow.
BTW the banks are MUCH higher... They start at 8%+

Marketing... NAMDEVCO can help... but they still suffer from serious limitations...

After all that we are still trying... and WAITING! As I said before... Good luck!

My $0.02¢

And now squatters going to get first preference for any lands available, the last Ministry of Agriculture ad I saw for leased land was back in 2008 or 2009. I guess I may have to go and do it on a piece of land another friend owns but there has to be an ironclad contract in place, because I don't want my money to go up in smoke

[sunnyman]

They should put up this thread on Nedco's site so that an aspiring business owner can hear real life, APPLICABLE instances of trials and tribulations.

I have been self employed for the past 6 years and only recently started reaping the fruits of my labour. Discipline plays a big part in this thing. Knowing that you are a making money and not touching it for a greater good are the downfall of many.

I agree with Redman. It drains you. A lot. You MUST have an end in mind and a map of how to get there. Not being clear is what makes the wheels fall off.

I am really heartened to know that so many persons are trying and are forthcoming with experiences to assist those who want to start up or those who need to be renewed in their endeavours.

Cheers!

[Sanctifier]

Financing... The ADB only gives loans with reasonable % for very secure projects...
e.g. If you want to go with a Greenhouse I heard they only offer 35% funding... I'm going to find out myself tomorrow.

I checked this morning... (26-05-11)

ADB terms for agricultural projects:
Ceiling on Principal.... = None... "open ended"
Land purchase.......... = Can be included in loan.
Downpayment........... = 20%... (10% for used vehicles.)
Loan %................... = 80%... (70% for used vehicles.)
Collateral required...... = Real estate, fixed deposits etc... just like a commercial bank.
Interest Rate............ = 3-5% per annum.
............................ = 1% less for approved advanced technology ...(minimum rate is 3%.)

A lot of paperwork is req'd, including Feasibility Study, Business Plan & Cash Flow projections... (Hire an Accountant.)
Still looks like a good deal IMHO.

My $0.02¢

[RNR66]

Need some advice on the basics of starting a cyber cafe -any info will be appreciated

[(l)bass]

...YOU have to believe in it it so bad you could taste it-literally, you refuse to stop, when you look at the blank canvas that others see you see a masterfcukingpeice.You know how it WILL END -you have no idea how you will make it happen-but happen it will.

You will never be so exhausted and so energized at the same time.
So scared you could puke-but 100% sure that you on the right track.
Look at your son sleeping and KNOW without a shred of doubt,why you do what you do...

Well said, my friend... WELL SAID!
My past... (self-employed for 31 years and counting)... My future!

A couple tips though...
EMPLOYEES are people too. Treat them as more than just a smart "HR effort"... but ALWAYS be careful with your $$$ because dishonest employees can "sink" your business VERY quickly.

NEVER go into business with family or friends if you can avoid it... You may loose both. It's the quickest way to find BIG trouble... for a LONG time.

If you MUST have shareholders... Arrange the divorce BEFORE the wedding... Less headaches & misunderstandings that way.

...and the MOST important of all... Once the feasability study is accurate and positive... NEVER GIVE UP!...

There are honest and dishonest businesspersons. You have to decide which one you are going to be.

Well said!

Wow! I feeling every word of these posts right now fellas! I joined some of you by now owning my own business (can't say self employed cuz no $$ making yet to pay myself a salary as the word 'employed' would suggest). I haven't read every post from the beginning of this thread but God bless all those who have valuable input so far. The vision you have for your business gives you a sense of purpose. The foundation that you set for this business determines how long you get to enjoy it when you reach your goal. Most ppl tell me I foolish but I make sure and register and do the whole BIR things from the jump. Don't want my kids inheriting no business that can crumble cuz the government of the future decide to dig up all who owe dem money and squeeze dem. We might eat little but we will live long . Thanks fellas.

[mediahouse]

I am looking to register a business in Miami Fl for future use i check online and some companies charge 800 USD etc which is insane. Can any one advise if they have done this and whats the most cheapest way/?/

[Yeo]

Do it yourself, check the links in article and read up on them.
http://miami.about.com/cs/business/a/aa041302a.htm

[Yeo]

http://www.vidaamericana.com/english/bi ... rtbiz.html

http://www.gaebler.com/Starting-a-Busin ... ida--Guide

[RapToR]

I am looking to register a business in Miami Fl for future use i check online and some companies charge 800 USD etc which is insane. Can any one advise if they have done this and whats the most cheapest way/?/

Actually is a us$1000 a year

[mediahouse]

per year??? i doh think so i saw some sites have one time fees

[RapToR]

per year??? i doh think so i saw some sites have one time fees

To keep it registered is 1k a year


Can't remember

I got 3 ppl there to do it for me

[pugboy]

you got a bunch of lil crap to pay online along the way too