Partner Business Problem-urgent advice needed - Singapore Forums by SGClub.com
Singapore Forums by SGClub.com
Sitemap Contact Us FAQ Singapore Forums by SGClub.com
Home Photos Member List Register Mark Forums Read  
Go Back Home > Lifestyle > Workplace and Business Forum » Partner Business Problem-urgent advice needed

Why aren't you a member of SGClub.com yet??

» Join 130,000+ other members in chatting.
» Make lots of new friends here.
» Keep up-to-date with current events.
» Participate in Club outings.
» Download lots of Free Stuff!

Registration just takes 2mins and is absolutely free so join our community today!

I Want to Choose my Own Personal Nickname Now!


Reply
 
LinkBack Thread Tools Display Modes
Old 10th October 2010, 12:32 AM   #1 (permalink)
New SGClubber
bigbigboss is on a distinguished road

 
Posts: 2
Join Date: Oct 2010
Likes: 0
Liked 0 Times in 0 Posts
Gender:

Partner Business Problem-urgent advice needed

Hi there,

I had been with my partner for business for about 5years. We used to be good friend and that's why we can work as partner. Unfortunately, recently we found that we had different view of business aspect. Furthermore my business had been contributing about 70% of the total copany sales. But the company share is 50 50, therefore, when come to year end profit we will have equal share.

I think the simplest way is to close the company and split our own way. But is there any other way we can do so that, we can still continue the business without affecting our customer? (Like changing a new account and blar blar blar)

Appreciate if anybody can help to give a good advice? I'm really frustrated over this as cannot tahan my partner anymore.

thanks

Sponsors:
bigbigboss is offline  
Add to bigbigboss's Reputation Reply With Quote
Old 10th October 2010, 12:49 AM   #2 (permalink)
Cool SGClubber
JustinLee is on a distinguished road

 
JustinLee's Avatar
 
Posts: 191
Join Date: Sep 2010
Likes: 1
Liked 0 Times in 0 Posts
Gender:

Re: Partner Business Problem-urgent advice needed

You can choose to buy out your company's share and retain the brand name and everything else. There may be accountants at international plaza or lawyers who may be able to work out the details with you.

Be careful when you get lawyers involved though. Let your partner know that you're going for an amicable settlement and not suing him.

__________________
Ace Tutors - Singapore's Online Tuition Matching Service
Trusted and Professional

Last edited by JustinLee; 10th October 2010 at 12:50 AM.
JustinLee is offline   Add to JustinLee's Reputation Reply With Quote
Old 11th October 2010, 06:03 PM   #3 (permalink)
New SGClubber
bigbigboss is on a distinguished road

 
Posts: 2
Join Date: Oct 2010
Likes: 0
Liked 0 Times in 0 Posts
Gender:

Re: Partner Business Problem-urgent advice needed

Hi Justin,

Thanks for the advice. The problem here is my partner also wanted to have this company to maintain their business as well! This is the most frustrated thing that I had now.....though they contributed only about 30% of the total business, but to them, that is fare enough as they commodity is not very high value. Any further advice please????

bigbigboss is offline   Add to bigbigboss's Reputation Reply With Quote
Old 17th October 2010, 05:12 PM   #4 (permalink)
Addicted SGClubber
ParamountAssets will become famous soon enough

 
ParamountAssets's Avatar
 
Posts: 458
Join Date: Sep 2009
Likes: 1
Liked 3 Times in 3 Posts
Gender:

Re: Partner Business Problem-urgent advice needed

Get an accountant to value the shares, then sell it to him and you setup another company.

__________________
Our company is a serviced office provider with several offices in various parts of Singapore. We also offer a wide array of corporate solutions that are fundamental to businesses. More information can be found on www.ParamountAssetsCorp.com
ParamountAssets is offline   Add to ParamountAssets's Reputation Reply With Quote
Old 4th June 2011, 05:11 PM   #5 (permalink)
New SGClubber
lccglobals is on a distinguished road

 
Posts: 27
Join Date: May 2011
Likes: 0
Liked 0 Times in 0 Posts
Gender:

Re: Partner Business Problem-urgent advice needed

Undoubtedly you can omit from your joint business venture and can have your very own venture and one more good thing you can also use your current business name having different accounts, no worries get help of a business consultant and your problems will be resolved.

lccglobals is offline   Add to lccglobals's Reputation Reply With Quote
Old 19th June 2011, 08:55 AM   #6 (permalink)
Addicted SGClubber
enigmasam is on a distinguished road

 
enigmasam's Avatar
 
Posts: 963
Join Date: Oct 2008
Likes: 2
Liked 0 Times in 0 Posts
Gender:


Pte LTD or partnership? Partnership, you just need him to write a letter to you stating the reasons to liquify his shares or vice versa. If the letter is unreasonable, a simple consultation to any lawyer to demand from him statistics and figures is enough.

Pte LTD a little more tricky. Lol! Don't wanna advice here

__________________
The best way to get started is to stop talking and start working. - Walt Disney
enigmasam is offline   Add to enigmasam's Reputation Reply With Quote
Old 22nd June 2011, 12:27 AM   #7 (permalink)
Cool SGClubber
CarlisleSg is on a distinguished road

 
CarlisleSg's Avatar
 
Posts: 175
Join Date: May 2011
Likes: 0
Thanked 1 Time in 1 Post
Gender:

Re: Partner Business Problem-urgent advice needed

Originally Posted by bigbigboss View Post
Hi there,

I had been with my partner for business for about 5years. We used to be good friend and that's why we can work as partner. Unfortunately, recently we found that we had different view of business aspect. Furthermore my business had been contributing about 70% of the total copany sales. But the company share is 50 50, therefore, when come to year end profit we will have equal share.

I think the simplest way is to close the company and split our own way. But is there any other way we can do so that, we can still continue the business without affecting our customer? (Like changing a new account and blar blar blar)

Appreciate if anybody can help to give a good advice? I'm really frustrated over this as cannot tahan my partner anymore.

thanks

Try to visit www. rikvin.com, they can answer all your questions...

__________________
If interested to know more about Singapore Personalized Employment Pass. Just check this out.
CarlisleSg is offline   Add to CarlisleSg's Reputation Reply With Quote
Old 19th September 2018, 04:05 PM   #8 (permalink)
New SGClubber
sophia is on a distinguished road

 
Posts: 1
Join Date: Nov 2017
Likes: 0
Liked 0 Times in 0 Posts
Gender:

Re: Partner Business Problem-urgent advice needed

I hope your problem had been settled. To those who's having the same problem, always consult corporate consulting company to settle this kind of problem.

sophia is offline   Add to sophia's Reputation Reply With Quote
Reply

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
legal advice needed!!! Urgent! jp16 SGClub Cafe 23 8th May 2010 12:33 AM
no cca in jc. urgent advice needed! tyl23 School Life 15 22nd April 2010 09:36 PM
Help: urgent advice needed ImYourNemesis School Life 13 4th December 2009 12:11 AM
Business Partner - Low Capital needed ythan81 Jobs & Services 3 13th November 2009 12:28 AM
Business Partner Needed Axela Jobs & Services 0 28th October 2007 11:38 PM

» Sponsors
Watch Free Movies Online
Celebrity Gossip
Food Delivery

» Facebook Fans
» What's Going On?
Title, Username, & Date
Post anything random on this thread.
Boy who died in shower was electrocuted due to faulty electrical installations: Coroner's...
Inspirational Songs
108 suspected drug offenders arrested in 4-day islandwide raid
Car rental
Prefunding Risks Medishield-life Degenerating into a Bankrupt-Ponzi-Schem...
Elderly woman hospitalised after fire at Tampines flat
Singapore weddings
Hard objects including screws allegedly found in Quaker oatmeal packet; AVA looking into...
Public Warning System sirens to sound on Feb 15 across Singapore
O Level : Social Studies Venice's Notes : Need help!
Transcend 110S PCIe SSD Review
I really hate my mother!!!
[Healthcare] Singapore appointed the wrong Captain, and now the ship is sinking fast.
Food waste
[Parking Fees] Why is PAP subsidizing (encouraging) car usage in Singapore?
Forex
Baby taken to hospital after fire involving ebike at Geylang
Iceberg lettuce containing high levels of pesticide recalled from NTUC FairPrice, Sheng...
Confirmation name.
Featured Photos
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by pdsubbu
· · ·
Member Galleries
20359 photos
13619 comments
by Vikas Dhar
· · ·
Photography
35 photos
36 comments
by aaudreygan
· · ·
Guy Photos
1581 photos
946 comments
by aaudreygan
· · ·
Girl Photos
4352 photos
9918 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by aaricia
· · ·
Girl Photos
4352 photos
9918 comments
by aaricia
· · ·
Girl Photos
4352 photos
9918 comments

 

All times are GMT +8. The time now is 09:43 AM.


Powered by vBulletin
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Copyright© 2004-2013 SGClub.com. All rights reserved.