Thursday, January 22, 2009

Singapore taps reserves for S$20.5b economic stimulus plan ( And my business idea )

Just in case those of you who have missed out on the info. Yup, you are right. Singapore is going to spend

S$20.5billion

for the economic stimulus plan, out of which S$4.9 billion is coming out from our reserves for the first time. Seems like the economic crisis is really bad this time round.

To keep things short, it is to help the lower income/middle group in terms of their tax reliefs like the individual income tax, property tax(only for homes that you occupy, hence the richer people with multiple homes do not benefit). But more importantly, it is targeted to helping companies.

Hence, it is technically the best time to set up a business, provided that you can find your niche. The lower corporate tax, the higher government guarantee and all the packages to help train workers. To me, it sounds like a possible business idea.

*picture taken from here


I am thinking of setting a business to educate people on personal finance . It may be similar to what a financial planner might be saying, but I am non bias, I don't get you to buy any products and I genuinely want to help you to save money. I am thinking of teaching simple facts like
  • Power of compounding interest
  • Places to make your money grow
  • Ways to save money
  • How to effectively make use of your CPF
  • And other things that will be financially
Essentially what this blog is talking about. ( even though i have heard of a similar company, to me , it seems that that particular company is not marketing itself as aggressive as i would like to do it )

Also, since the government is providing funds to send workers for training, I might be able to tap on these funds..as companies can send their workers to learn about financial planning.

To add on, the government also intend to spend $9200 per student for the next 5 years, which I suppose are for enrichment courses.

Imagine charging a fee of $20/ person per session, but doing it on a large scale, say for example 30 students at a go and trying to target ALL schools/community centres/youth groups/enrichment courses 'add ons' etc.

Any comments from anyone? Or anyone who is keen on helping develop the idea?

10 comments:

Zander said...

I do agree in some sense that education is one of the best business ever.

daniel said...

regards to the business we can talk more about it. Can email me daniel.sg@gmail.com
-Daniel

terence said...

Hi I have an idea for a business regarding personal finance education in Singapore as well - we can connect over email at snami8@gmail.com .

Roger said...

hello, i myself have thought of that idea! to date i have educate some of my friends in group level, maybe we can help each other and share ideas:) email: hastez@hotmail.com

Victor said...

Hi NTU Chartist,

I am also from NTU, from engineering year 4.

If you are going to start this buisness, I be your first student..:P

Please give me discount since we all from NTU..haha

You can contact me at victortansh@gmail.com or 93891468

Thanks

Cheers
victor

Wealth Journey said...

This is a good idea too.
Count me in for the company..
Maybe we can meet up with Daniel and Terence to form a team? :)

ntuchartist said...

Hi all, think will be holding a small meeting session soon..will email u guys..anyone else interested, just drop me an email

Anonymous said...

Actually a lot of people has done this and is still doing it in the market.

Stat board like CPF also doing it.

I would say its a slim chance bro.

Anonymous said...

Hi ,

I have my own consulting practice at the moment. I was from NTU as well but more than 10 years ago.

Do get in touch with me if you have some great ideas on this education programme business you might want to start.

I am teaching "Financial Knowledge needed for setup of business" at Singapore Poly to a group of "retrenched PMETs"...perhaps we can explore further and do something like Adam Khoo's setup and expand further into global market.

Do keep in touch.

My email address is : atlantes@singnet.com.sg

QUALITY STOCKS UNDER FIVE DOLLARS said...

Great post.