SMEs in the GST era

Cheong discussing the challenges in managing GST for SMEs

Syntax Technologies Sdn Bhd Founder and CEO Bryan Cheong Chee San discussed several challenges in starting businesses after GST implementation at UTAR Sungai Long Campus on 24 November 2015.

With the implementation of GST in April, many small and medium-sized enterprises (SMEs) have faced numerous challenges in managing their finances. Without proper computer software, managing GST is impossible, he asserted.

“Accounting software such as UBS can only be understood by an accountant, and as such, transparency of a company’s finances is limited to none. Poor management of GST can cause severe consequences such as prison incarceration, fines, or both,” said Cheong.

He advised aspiring entrepreneurs that their business must benefit or solve problems faced by today’s society.He also advised aspiring entrepreneurs that they must plan ahead, and have patience before making the leap.

“With SQL accounting software, my aim is to let business owners without any accounting knowledge operate the software, as well as providing training and support in these challenging times for SMEs,” Cheong continued.

“Gaining experience through a few years of employment is the best way to learn how a business operates. Constantly observe and enquire, and from that work out a suitable business plan for yourself,” he urged. He also said that the early stages of starting a new business are difficult, but acts as a test of an individual’s determination and will.

Syntax Technologies Sdn Bhdis a solution provider forbusinesses of all sizes within industries. The focus of the business is on softwareconsultancy, sales, training, and support. In 2013, Syntax was certified as “Authorised TrainingCentre” and “Exclusive Exam Portal” for SQL Accounting System by its principal.

This talk is a continuation of the ongoing Entrepreneurial Talk Series organised by UTAR’s Department of Consultancy and Commercialisation (DCC).