Franchise Systems Definition

Franchise, some people know but not well-know and some have heard about it but not much know about it. So, we will talk about this business system. Franchise systems are the protocols and processes that a franchiser makes available to franchisees as part of their franchising agreement. According to Scott Shane of the Sloan School of Management in Massachussetts, franchise systems are most successful when they make economical use of an organization's resources. In other words, franchising systems should enable a franchisee to operate his company cost effectively.

Company Secretary in Malaysia

Secretary, what you know about secretary??? It is a women with skirt and sexy???What i want to tell you now is a company secretary. Every company is required by statute to have at least one company secretary or more in Malaysia. Who can be company secretary??? The person which are a members of professional bodies such as:
1. The Malaysian Association of the Institute of Chartered Secretaries and Administrators (MAICSA)
2. The Malaysian Institute of Accountants (MIA)
3. The Malaysian Institute of Certified Public Accountants (MICPA)
4. The Malaysian Bar
5. The Sabah Law Association
6. The Advocates' Association of Sarawak
7. The Malaysian Association of Company Secretaries (MACS)
and also the person licensed by Commissioner of Company Malaysia (CCM) under Section 139 Companies Act 1965.

The secretary is to be appointed by the board of directors and either himself or his agent or clerk is required to be present at the registered office of the company on the days and at the hours which the registered office is to be accessible to the public.In most cases it is not practical for most small medium enterprises to engage full time secretaries. Instead, the service of an external secretary of a professional secretarial firm is engaged.

What are the general duties and responsibilities of company secretaries?
The duties and responsibilities of company secretaries depend mainly on the expectations of the board of directors. In most cases, the company secretary is responsible to ensure compliance with the disclosure and information requirements of the Companies Act.

These are some of the main duties of a company secretary:

1. Organise meetings

2. Send out notices for meetings

3. Take down minutes of board and general meetings

4. File statutory returns (in the prescribed forms) required by the Companies Act 1965 with the Companies Commision of Malaysia

5. Keep and maintain the various registers at the registered office of the company.

Duties of Directors

A company is a separate legal entity, separate and distinct from its individual members/shareholders.  For small company normally members of the company become the Director. Members of the company will appoint directors (members or outsider) who will be entrusted with the power and authority to make decisions for the running of the company and manage the company's affairs.

For many small businesses, members of the company who have come up with their own capital to fund their businesses are often involved in the day-to-day management of the company. These members usually appoint themselves to be the directors of the company.

For larger businesses such as public listed companies, it is practically impossible for the shareholders to manage the company's affairs and therefore directors are empowered to operate the company.

What are the requirements of directors of a company?

There must be at least 2 directors who each have his/her principal or only place of residence within Malaysia, whether he/she are Malaysian or not.

To qualify to become a director of a company, he must be:

1. A natural person
2. Of full age (18 years old and above)
3. Of sound mind
4. Not disqualified under the Companies Act 1965

Directors are not required by law to have special knowledge, or experience to act in that capacity.

Start Up Business in Malaysia

Do you need to set up a company to start up business in Malaysia?

Businesses in Malaysia are required to be carried out by either these two types of business organisations:

1. Business firms (governed under Registrar of Business Act 1956)

2. Registered companies (governed under Companies Act 1965)

Start up Business in Malaysia - What is a business firm?

Business firms can be either of these two types:

1. Sole proprietor/ Sole trader - Sole proprietor is a business carried out in the name of an individual.

2. Partnerships (governed by Partnership Act 1961) - Partnership is a business owned by two or more individuals.

Both these types of business firms have no separate legal existence apart from the persons who owns the business and properties cannot be held under the name of the business firms. All contracts are signed in the name of the individuals who own the business and their liability is unlimited.

Ramly Burger- The Fact and The Truth

Ramly Burger does not need introduction for Malaysians, and the popularity of the Ramly brand itself eclipses its very own creator, Ramly Mokni. Ramly is the guy who has almost single-handedly changed the way how burgers are commercialized via the 'gerai' concept. The  concept most of the people may said it impossible to be rich and far away to be millionaire but the truth is he proved it to the Malaysian people and around the globe by created his own history.  Some people say that this concept of business is just only suitable to people who are not graduate. Yes, i agree with that but the point is the opportunity can be see by opportunist person than create it become income. It those not matter who you are or which education you have.  

　

7 Critical Business Success Factors

Each business has its own unique combination of critical success factors, but some are important for all businesses. Here's my list for the millennium year.

1. Identify and implement the technology needed to support your business and its growth. You can't afford to ignore technology. It can reduce manpower needs, increase efficiency, reduce overall costs and create the means to reach new markets, add new products and significantly improve your bottom line. The key is to know the technology that makes a difference for your business and not to take on technology for its own sake.
2. Use the skills and resources of others to open growth opportunities and provide support outside the core mission of your business. The virtual nature of today's business means that you can tap into resources that previously would have to be purchased through capital expenditure, employee commitments or long-term arrangements. What you can't provide through core capabilities can probably be better and more efficiently provided through strategic alliances where each alliance partner realizes a benefit from working together.

Tips to Startup Entrepreneurs

Starting a business is scary in any economic climate. You’re putting yourself on the line – your ideas, sweat, capital, time, and relationships – in the hope that your gamble of starting a business will pay off.What do you need to succeed in business? Experts say that you need to have loads of persistence, passion, and hard work – and yes, luck. But there’s really no single winning formula that can guarantee the success of your business. You have just to do it, and do it right.

I’ve collected some of the tips given on books and internet, as well as from other experts and authors, on what a startup entrepreneur needs to do to increase chances for success. Here are the initial 25 tips: