Print generic “thank you cards” online and stamp it with your stamp!
You can use your stamp to stamp packaging and bags. Instead of buying stickers use your stamp to cut costs!
Stamp your receipts. If you use the normal receipt books , you can place your stamp on your receipts 🧾 to brand your business!
If you opened a savings business bank account 🏦 account for your limited liability company, you must walk with your stamp to the bank to make cash withdrawals over the counter.
In the future when you rent a new tenant a booth or stall , you can stamp the rental agreement.
When you successfully bid for contracts and you sign the contract , you have to place your stamp next to signature!
For those of you who bought my book “How to Hustle from Home: 50 Success Secrets” you saw that I stamped the bookmark with my company stamp!
As you can see you can do many things with your stamp after you use it to open your business bank account.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Do this after you open your business bank account !
1.Make a flyer that includes your account name , your account number and the name of your bank. Send this to your clients upon request!
2.Get online banking for your business bank account.
3.Check your account balance using your online balance! You can check it after you receive a screenshot of your client’s payment.
4.Accept bank transfers instead of doing “cash on delivery 🚚 “ . Say goodbye to those days of customers cancelling their order after you sent it with your courier!
5.Keep your account active by making at least 1 deposit per month in your business bank account. The bank likes to close bank accounts that are dormant ! If your account is closed you have to go over the same process to get a new account.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Remember when the cashier used to hold up your $100 bill to the light 💡 to look for the bird 🦅 to see if it was real?
You have to do the same thing with screenshots!
Some people out here feel that they have more head than garlic and will try to trick you into believing that they paid, when they didn’t.
If your account details are entered incorrectly by mistake or on purpose , the money will not reach your account,it will bounce back to the sender because the banking software could not find the intended receiver.
There is a higher risk of transfers bouncing back when your client sends from a different bank.
There are also people who are skilled with graphic design and can edit an old screenshot of proof of payment and you could be sending your items or starting work for free.
I really care about you and your business so do this when you receive a screenshot of “proof of payment”:
1.Ensure that your account # was entered correctly.
2.Ensure your account name is correct.
3.Ensure that the correct amount was sent.
4.Check the name of the sender to know who sent you money.
5.If they transferred from another bank , wait for the money to clear before you do anything else. Sometimes this takes 1 working day or 3 days or more.
6.Use your online banking to confirm receipt of funds. Contact your bank directly to sign up for online banking.
7.Check the date and time the transfer was made. This could help you to know if they used an old screenshot and forgot to edit the date.
This is important because you can be giving away your goods for free trusting that the money reach in your account.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
In Sales, you need a ‘yes’ or ‘no’ but never “I’ll get back to you.”
Just like when you are interested in somebody romantically. They either feel the same way (yes) or they don’t (no).
You don’t want somebody to say “Maybe”, or “I’ll see” or “I’ll let you know” or “I’ll get back to you”.
If you and your prospective client or your crush are not a good fit, NEXT!
Some people don’t like saying “No” or I am not interested.
Instead they say “I’ll get back to you”.
If this happens to you , say this “You can be honest with me, tell me what’s on your mind. When people tell me I’ll get back to you , I never hear from them again.
What you are really doing is trying to find their “objections” or reasons why they don’t want to buy your stuff.
Listen to them and see it there is anything that you can do to help them.
Some objections are;
1.They find your price is too high.
Solution- Show them the value of your stuff and how it makes their life easier or better. Try not to give a discount but to highlight the benefits of your stuff.
2.They don’t trust you 100% yet to send their money.
Solution- Show up consistently on social media and give free mini tutorials.
3.They need more proof that your stuff works through reviews , testimonials etc.
Solution- Post receipts in your stories and other social media.
The next step is to overcome these objections to close your deal and get paid.
Don’t hold your breath waiting for people to get back to you, most times they forget about you.
As a salesperson you want to be in control of the power dynamic . You have no power when you are waiting for them to reach out to you. If anything , you be the one to get back to them.
Also remember that the clients and money that are meant for you , will always find you.
You don’t have to run down anybody for their love or money! What is yours is yours.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
If your business is not established (like operating for at least 5-10 years) STOP 🛑 working by downpayment because:
1.When your business is 1-5 years old 👶 , you need your full payment to cover your operating expenses & salary 🥘 .
2.If you are honest with yourself , you may not have the money to keep your business afloat 🏊♀️ while you await outstanding payments from ALL your clients.
3.Big companies can start your project 👷🏾♀️with a downpayment & you pay your balance at a later date.They have a fat bank 🏦 account and can finance your project while they receive other payments from their hundreds of clients.
4.Big companies have a legal team who prepare contacts for clients who pay with a payment plan. The big companies may take a job letter , payslip , IDs and other documents from clients.
5.Big companies have debt collection agencies , private investigators and a legal team on stand-by to go after clients who owe them money! 🚧 I can help you to register your sole trader business for only $800. Whatsapp 373-1166 for more information. 🚧
6.You may have met your client online & all you have from them is their name & number. Same client who talking to you nice , nice , nice ,watch how quickly their attitude change when your ask for your balance 😂
7.It is my respectful view that people who ask for a payment plan either do not have the money to pay for your stuff or they do not trust you to pay you in full. Either way, this may not be the best client for you. Trust is everything in business.
8.Chances are that you may NEVER see the balance of your payment.
I would rather wait for a client who can pay me in full than work by downpayment and have to run down somebody for the balance of my payment for work I already completed.
Been there, done that & I’m never going back!
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
I had a situation where a client attempted to transfer funds from her account in Bank A to my account in Bank B.
She sent me the screenshot of her transaction and I kept checking my online banking to confirm receipt of same.
Usually when I got transfers from another bank it would take 1-3 days to reach.
I kept using my online banking to see when the money hit .
As you know by now I do not start working on documents until I receive full payment so it’s important that I verify payment.
After 1 week of not seeing the transfer (this is why the transaction number & confirmation numbers are important) I contacted my client.
I said “Hello! I know that you transferred my fees last week and I was wondering if you could check on your online banking to see if the transfer bounced back. I am not seeing the payment in my account.”
She responded quickly and told me that the money did in fact bounce back to her account. She went into the bank to do a fast deposit instead!
The next week I opened a business bank account in her bank. I promised myself that I wasn’t going through that again .
I tell my clients “I accept bank transfers from all banks , which bank is easiest for you ?”
Then I send them my bank account info for the bank that they bank with .
I don’t play with payment and people’s money.
Again hustlers , we see the importance of online banking for your business bank account.
Just because someone sent you a screenshot of a bank transfer doesn’t mean that the money is in your account.
Use your online banking to verify all your payments!
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
You have nothing to lose by opening more than 1 business bank accounts because…
1.You can build banking relationships with more than one bank to get loans and credit cards.
2.You can accept same day bank transfers from any bank.
3.You can use one business bank account for expenses and the other for savings or any other purpose.
4. The bank may put a hold on your account for any unusual activity. The hold could be for 2 weeks or more! This will restrict your access to your funds.
5. You can put your eggs 🥚 🥚 in different baskets 🧺🧺 🧺
You see, you have nothing to lose by having extra business bank accounts!
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Buyers remorse’ happens after someone buys something from you and they start to question their purchase 🧐
They may wonder if you over charged them ,if your product has any warranty or if you gave them a 6 for a 9.
You should contact your client as soon as they buy your stuff to show them that you care about them after they paid you!
In big companies ,there is a position called an ‘After Sales Manager” & their starting salary is around $20,000 per month.
The After Sales Manager deals with all issues that may arise after the clients bought a product or service.
In your small business you are that After Sales Manager and you have to be responsive after you receive payment!
❌You CANNOT take cash 💰 and dash 🏃♀️
Always do this after you make a sale :
1.Call 📲 or message or email 📧 your client as soon as you get their payment confirmation and ask them ;
2.Did your receive your items ? This applies to digital products that your client receives immediately after payment like an ebook or course. If you sent their items with a courier, keep following up until they receive their goods.
3.Is product X working to your satisfaction? They may say yes or no. If the answer is no ,ask them “What can I do to make it better ?” This also applies to a product that requires assembly like a ring light💡.
4.Are you pleased with your purchase ? They will tell you the truth! Yes I love it or no I am not impressed at all! If they are disappointed, that’s bad business for you! So ask “How can I fix this?”
You can also say this to your clients to say thank you: 5.I really appreciate your business!
6.Thank your for making your full payment today !
7.Thank you for choosing me!
When you do these things, you will hook your clients❤️
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
If the bank can repossess an item , it means the bank always possessed it.
The bank is merely taking back what it already owned.
It appears to me that we are all paying monthly subscriptions for the things we call “ours.”
Unless you paid for the item in full and you have documentary evidence that you own it (like a deed or certified copy) then the item belongs to the bank 🏦
That car that you are driving , mhm, it belongs to the bank 🏦,
That house you live in , mhm , it belongs to the bank.
That store you call “your business” mhm, it belongs to the bank.
The banks have been repossessing cars 🚗, equipment, commercial properties and homes because people have not been able to pay their monthly installments as a result of the pandemic 😱
Loans come with long contracts that state the power of the bank to repossess the item if you are unable to pay back your loan (among other things).
It’s sad 😞 and embarrassing to see the bank take back your home, car, or business place.
Many business owners have been begging the banks to defer loans for at least 1 year in the newspapers.
We forget that a contract is a contract and business is business.
It’s a tricky situation but this is the sad reality.
Even in the case of landlords and tenants, sometimes the landlord has to pay a mortgage installment to the bank every month from the rent they collect from you and other tenants.
So if tenants cannot pay rent , the landlord cannot pay the mortgage. Then the bank may be within its right to repossess.
A CUSTOMER will buy from you once , but a CLIENT keeps coming back!
We are clients to groceries , gas stations, dentists , doubles vendors , a/c technicians and we didn’t even realize it !
Once you build a good clientele you will have consistent income and stay in business!
Choose your clients carefully because:
1.Your competition can buy your product or service just to see how you work your magic! I know nail techs who refuse to do work for other nail techs and I respect this.
2.If you had to deal with a client that you could not stand but you finished their project or sold them products , they will send other buyers to you. The bad part is their referrals are JUST LIKE THEM.
3.No matter your price , there is someone who will not be able to pay it! Be careful that you qualify a client before accepting them and DON’T start their project or send them the product before payment. This is gonna sound harsh but they usually ask for discounts or to make a 50% downpayment. The reality is you may never see your other 50% because they honestly don’t have it. This is why I stopped working by downpayment , if you tell me your budget , I can refer you to someone else who can help you.
4.Some clients are just disrespectful and have no regard for your boundaries, or policies & you don’t need this stress.
5.Only deal with clients who love ❤️ & trust your brand! Social media is a powerful tool for building a relationship with your clients. When a client trusts you they will spread the word about your business on the mountain 🏔 tops!
6. Toxic clients will frustrate you and you may resent yourself or them.
7.Fire toxic clients!! I covered this in detail in my book 📚 “How to Hustle from Home “. You are wasting time and sleep over 1 toxic client while 4 high value clients are waiting to do business with you!
8.Focus on accepting paying clients who respect your business!
To build your business , you need “return business” or clients who come back with a paying friend or family member.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Your utility bill is used as proof of residential address & your mailing address 🚚 1.To open your business bank account
2.To apply for your business loan
3.To buy insurance for you and your business
4.As proof of address for other business transactions. You need a utility bill to open your business bank account 🏦
5.If the bill is not in your name , you must carry an authorization letter from the utility bill plus a copy of their ID/DP/Passport. The signature on the authorization letter must match the signature on the ID.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
BEFORE you open your business bank account do this 👉🏾
1.Register your business. The bank will ask you for your business registration certificate.
2.Make your business stamp. Ensure your business stamp has your business name just as it appears on your certificate. It may be a good idea to wait until your business name is approved and registered before you order your stamp.
3.Make a pricelist for your products or services. Consider all your costs before you set prices. Also be mindful of the increasing prices of your raw materials!
4.Do your research and pick a bank that offers what you need.
5.Find out the minimum first deposit from the bank to ensure you walk with it on the day of your appointment to open your account .
6.Get a recent utility bill no older than 3 months in your name. If bill is not in your name, get an authorization letter from bill owner and a copy of their ID. Ensure their signature on ID matches their signature on the letter.
7.Research the differences between a savings account vs a Chequing account.
8.Book your appointment to open your business bank account.
9.Get your 3 years cash flow projections and letters asking the bank to open your account. The bank accepts this for new businesses that were registered for less than 3 years.
10.Get your logo or letterhead to be used to prepare the letters asking the bank to open your account.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
You do not need any money to start these business ideas. The best part is that all of them are in demand, so you should have no difficulty finding clients. Honestly, the only challenge is learning the technical part of these businesses. You may consider performing the service for yourself or a friend or a discounted price at first so that you can learn the process.
1.Business Registration services
Some countries are experiencing something called “The Great Resignation”. Where employees are seeking higher paying jobs or are starting their own businesses. One Caribbean country revealed that about 10,000 new businesses were registered since the pandemic. It seems that during the crisis, entrepreneurs are registering businesses to solve specific problems. You can capitalize on this and offer business registration services. Further research may be conducted to learn the process to register a business in Trinidad and Tobago.
2.BIR # Application
This is related to business registration above. You can offer #1 and #2 like a package or as separate services. A Board of Inland Revenue (BIR) number is required to create a file or an account for individuals and registered businesses to pay their respective taxes. Further research may be conducted to learn the process to acquire a BIR# for individuals and registered businesses in Trinidad and Tobago.
3.Trademark Registration
Generally, when you register your trademark in your country you protect your logo and or business name from being used by anyone else. You can take the appropriate action if you are of the view that someone else is using your registered intellectual property. Further research may be conducted to learn the process to register a trademark in Trinidad and Tobago.
4.Liquor Licence Application
Individuals and businesses such as mini marts want the permit to sell alcohol on their premises. They are willing to pay a service provider to complete the paperwork for them. Further research may be conducted to learn the process to obtain a liquor licence in Trinidad and Tobago.
5.Money Lenders Licence Application
Many people are experiencing financial difficulties and are seeking loans to help them to meet their monthly financial obligations. Person who have the disposable income are prepared to lend money with the expectation that they will be repaid with interest. A money lenders licence is required for loans for a certain amount. You can provide the service of completing the documents to apply for the money lenders licence. Conduct your research to learn all the steps.
6.Business coaching
You can help new business owners to start and grow their business with your business coaching services. This is perfect is you already did #1 and #2 for your clients. Create a monthly business coaching subscription package for your clients. Your monthly income will be more predictable.
7.Online Tutoring
You can offer tutoring services for students who are preparing for examinations at the SEA level or CXC level or CAPE level. The more students you enroll means that you will receive more money every month. You can offer real-time online individual sessions or pre recorded sessions and sell access to multiple students. Create your YouTube channel and share mini tutorials to help your potential students who may sign up with you after they like your teaching style.
8.Video editing
You can offer video editing services for content creators who make videos for social media and YouTuber. Some content creators dislike editing and are willing to outsource a video editor. Your clients may live in different parts of the world and you can use your computer and phone to communicate with them.
9.Scrap Iron Recycling
We have all heard the trucks passing playing the recording “scrap iron, old battery buying”. In one day, you may hear or see at least 2 trucks pass. I have been told that people are selling their cars to buy a truck to collect and deliver scrap iron to the recycling yards. There are big international and local contractors who collect scrap iron and other scrap metal and ship them in containers all over the world.
10.Commercial Cleaning services
Companies have focused on maintain sanitized settings for customers and employees during the pandemic. You may have noticed that the cleaning staff at the bank and supermarket sanitizing the counter when you leave and the grocery. They are usually employed by a cleaning company who was contracted to perform these services. You can start your own cleaning company and work strictly by contracts. This will ensure that you receive predictable reliable income.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
What we are not about to do is laminate our business certificates!
What is laminating?
Laminating is covering a document in plastic to protect and preserve it. A machine is used to seal the document using one sheet of plastic in the front ,another sheet of plastic at the back and heat is applied.
People usually laminate academic certificates and other documents to preserve them.
Never laminate your business registration certificates because:
1.Laminating (destroys) flattens the security seal.
During the process of laminating, your security seal on your business certificate will be flattened. Authentic business certificates contain a security seal placed by the Companies Registrar. This seal is an important way to verify that your business was registered. (There are fake business certificates.) When you go to the bank to open your business bank account the bank checks for the security seal to ensure your certificate is real.
2.Laminated business certificates are void.
Your certificate becomes void and meaningless when you laminate it.
3.Laminated certificates will not be accepted.
Laminated business certificates will not be accepted by banks and other institutions when you want to conduct business.
4.Difficult to photocopy laminated certificates.
It is difficult to photocopy your business certificate when it is laminated. Sometimes copies of your business certificate may be requested when you are conducting business.
5.The heat can burn your business certificate.
Do this instead of laminating your business registration certificate:
Leave your certificate in the clear protective plastic envelope I gave you when you used my service.)
Frame your certificate in a picture frame and display it in your office.
Store your certificate in a cool, dry location.
Remember your business registration certificate will last you for the rest of your life.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Do you know someone who shared a business idea with a friend and that friend stole the business idea and successfully launched it? You do not need anyone to validate your business idea before you proceed.
When you get your business idea you simply start to put things in place. I know hustlers who shared their business ideas with their loved ones, and they were shut down. Start your business and you will know if the idea is good or bad. People are selfish by nature. They may consider how your life will change when your business succeeds.
Their insecurities may consume them and they may fear that you will meet someone else while running your business. If you must tell someone about your business idea, make sure that you tell someone who loves you and has supported you in the past.You can share your idea with a positive person who you has earned your trust. This person can encourage you and remind you of your past successes. A positive person may introduce you to the right people to help you to get started. If you do not have any positive friends, then you need new friends. Summary You do not need anyone to approve of your idea.
After you get your business idea start to put things in place.
To do list •
Make a list of the positive people that you can share your business idea with.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
I saw my colleague recently and she looked distressed. I recalled that she accepted a position at a small law firm and her salary was not more than $7,000 so I suspected that this was frustrating her.
I asked her why she did not consider starting her own law practice. She replied that she thought about it but she was uncomfortable asking for her payment.
I once heard that “begging” is asking in a pathetic manner.
But it is still asking.
I am of the view that you can confidently ask for your full payment from the start.
A few tips
Know your worth.
Take a good look at yourself and realize that you are a professional.
You must first be convinced that you deserve your full payment.
When you value yourself and respect your time and work, new clients have no choice but to make your full payment.
Let your clients know that you can start working on their project as soon as you receive payment:
I can start working on your documents as soon as you make full payment.
I await full payment.
I will send your receipt as soon as you make the full payment.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
There was an incident in Trinidad in December 2019 involving a cake that was delivered by a cake baker that was not well received by the customer.
I am of the view that in a case like this a full refund must be offered right away. Social media may be used by dissatisfied customers to post pictures of items received from an online business owner or of screenshots from conversations. There are legal options to seek redress but the immediate aftermath is embarrassment, less clients, reputational damage and hurt feelings.
Always be able to give a full refund.
A refund will not stop your customer from being disappointed with your service or product but a customer is less likely to rant on social media about an online business after they received a refund. It is my desire that you only accept projects that you can complete and that you accept clients that you love to work with.
I take written instructions from my clients and I read it over to them to ensure that we are both on the same page. I do not accept every client that approaches me because I am not always able to give their matter my full attention and they deserve my undivided attention.
May you always select clients who love your work and support your purpose.
To do List •
Create a Refund Policy and share it with your customers.
• Decide under what circumstances you are willing to give a full cash refund.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Are you struggling to manage your online business and your life?
Do you feel exhausted, overwhelmed, and overworked ?
How to Hustle from Home: 50 Success Secrets will teach you how to create a balanced life and a successful online business.
The goal of this book is to inspire hustlers to keep hustling. This book will teach you 50 Success Secrets to automate your online business and practical steps to enjoy your life.
Business Consultant and entrepreneur Antoinette Sydney teaches you how to hustle from home. After serving and observing hundreds of hustlers, Sydney discovered the 50 Success Secrets of successful online businesses. This self-help book will teach you practical steps to create systems to automate your online business so that you can have more time for yourself.
You will also learn how to create systems in your personal life to enjoy the joy of living.
Each chapter presents a story of a hustler who was frustrated and struggled to manage her online business and her personal life until she learned the 50 Success Secrets. Practical steps are included in each chapter to show you how to grow your successful online business while enjoying your life.
Once the Success Secrets outlined in this book are applied, you can expand your online business and maintain boundaries in your personal and professional life. This book also provides practical business advice for new and experienced hustlers. Solutions for most problems faced by online business owners are included.
Sydney has dedicated her life to helping young people hustle so that they can become financially independent. There was an online business revolution in 2020 because of the pandemic and Sydney wants to ensure that these new hustlers build successful online businesses to stay in business beyond 2020. The future is home. If you are ready to learn the 50 Success Secrets that can help you start and expand your online business while enjoying a fulfilling life then buy “How to Hustle from Home:50 Success Secrets” by Antoinette Sydney now .
Hi Hustlers!!!!! I am Antoinette Sydney. I teach you how to hustle from home. Subscribe and turn on post Notifications to be the first to see all my videos!
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice. No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this channel up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this channel is hereby excluded to the full extent permitted by law. #antoinette #sydney #trinidad #business #ideas #registration #llc #incorporation #entrepreneurs #trinidadonlinelawyer #aml #amlexpert #consultant
A hustler is an ambitious person who works smart to create the life that they want without regard to the circumstances.”-Antoinette Sydney
Traditionally the word “hustler” has been given a negative connotation. It has been interpreted as being involved in illegal activities such as narcotics or selling happiness. On one platform the hashtag “hustler” was banned. Posts that use this hashtag will be flagged . This is not the interpretation that we will be using because it is disrespectful and far from the truth.
Hustlers never quit, we find innovative ways to take care of ourselves and our families. We use our skills to pay the bills. We are willing to give our customers value in exchange for full payment. A hustler is not to be confused with a “con man” or “smart mam” or “scamp”. The latter must understand that every “six for a nine” that is given to innocent, unsuspecting customers will come back tenfold. You may have a full-time job, or you may be a mother who takes care of her family and you want to start your online business. When is the best time to start an online business?
My answer is now, you are well able to start and succeed in your online business with the help of my book that I wrote just for you.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
If you are thinking about opening a business bank account for your Partnership business in Trinidad and Tobago, this post is just for you.
S.U.B.S.C.R.I.B.E. to my Youtube Channel.
The general requirements to open a business bank account for a Partnership Business are:
1.Certificate of Registration;
2.Two valid forms of Government issued, photo identification for each Partner;
3.A utility bill for each Partner, if the bill is not in your name, you will need an authorization letter from the person whose name appears on the utility bill and a copy of their unexpired Government issued photo identification. I am always telling my clients to get a utility bill in their name. See my YouTube video where I explain the importance of this.
4.A Business Stamp with your business name on it.
5.Special letters such as a letter of request, a letter requesting online banking.
6.Cash Flow Projections for three years.
7. Some banks require a Board of Inland Revenue (BIR) number;
8.Additional documents such as F.I.U (Financial Intelligence Unit) Registration
9.The minimum deposit payable to the bank, as the first deposit in your account.
10.Partnership Agreement. Some banks will insist on this!
Other documents may be required according to the sector that you operate in.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
The general requirements to open a company bank account for a Limited Liability Company are:
1.Certificate of Incorporation;
2. The Incorporation documents, these are Forms 1,4,8,27,
3.Most Recent Annual Returns;
4.Two valid forms of Government issued, photo identification for each director;
5.A utility bill in your name, if the bill is not in your name, you will need an authorization letter from the person whose name appears on the utility bill and a copy of their unexpired Government issued photo identification. I am always telling my clients to get a utility bill in their name. See my YouTube video where I explain the importance of this.
6.A Company Stamp with your registered company name on it.
7.Special letters such as a letter of request, a letter requesting online banking.
8.Cash Flow Projections for three years.
9.Some banks require a Board of Inland Revenue (BIR) number each director and for the conmpany;
10.By-Laws, if applicable.
11.Additional documents such as F.I.U (Financial Intelligence Unit) Registration.
Other documents may be required according to the sector that you operate in.
Antoinette Sydney LLB LEC CAMLFC CFRMP is an author based in Trinidad and Tobago.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
Have you ever visited the bank to open a business bank account and you were told to come back because you did not have all the required documents? Naturally, this is after you waited for three hours!
Thank you for stopping by!! In this post, apart from inviting you to subscribe to my YouTube channel, (PLEASE SUBSCRIBE) I will be describing the requirements for you to open your business bank account in Trinidad and Tobago.S.U.B.S.C.R.I.B.E
The general requirements to open a business bank account for a Small Business (Sole Trader) are:
1.Certificate of Registration;
2.Two valid forms of Government issued, photo identification;
3.A utility bill in your name, if the bill is not in your name, you will need an authorization letter from the person whose name appears on the utility bill and a copy of their unexpired Government issued photo identification. I am always telling my clients to get a utility bill in their name. See my YouTube video where I explain the importance of this.
4.A Business Stamp with your business name on it.
5.Special letters such as a letter of request, a letter requesting online banking.
6.Cash Flow Projections for three years.
7. Some banks require a Board of Inland Revenue (BIR) number;
8.Additional documents such as FIUTT (Financial Intelligence Unit of Trinidad and Tobago) Registration.
9.The minimum deposit payable to the bank, as the first deposit in your account.
Other documents may be required according to the sector that you operate in.
Antoinette Sydney Attorney at Law is an author and entrepreneur based in Trinidad and Tobago.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
Congratulations on registering your limited liability company. Please be gently reminded that there a few post-registration considerations such as tax compliance, AML/CFT compliance for listed businesses and the filing of annual returns with the Companies Registrar every year.
Importance of an Annual Return
An Annual Return is critical to a company since this document presents a correct, updated reflection of the company’s state of affairs. This documents presents an up to date snapshot of all directors and officers of the company, share capital as well as company debts. Once this document is filed at the Companies Registry, this information will be registered with the Registrar. When conducting company business, banks and other stakeholders will request the most recent Annual Returns. From this document all present company officers and company debts can be discerned.
When should a Company file an Annual Return??
The law states that a company should file an Annual Return no later than 30 days after each anniversary date of its continuance, incorporation or amalgamation at the Companies Registrar.
What happens if a company fails or refuses to file an Annual Return?
Where a Company fails or refuses to file a document with the Registrar within the time specified in the Act, the Registrar shall be entitled to collect from that Company a penalty of three hundred dollars ($300.00) for every month or part thereof.
The Companies Act of the Republic of Trinidad and Tobago requires companies to file an Annual Return every year even if the company has not been trading. In accordance with Section 194 (1) of the Companies Act of the Republic of Trinidad and Tobago, each company must file an Annual Return no later than thirty (30) days after each anniversary date of incorporation in the applicable form. At any point, the officers of the company can change directors, corporate secretaries, issue shares or acquire loans and these changes must be captured in the Registrar’s records of the company.
The following must be updated in the Annual Returns:
(a)Name of the Company
(b)The Registered Office of Company
(c) The Anniversary date of the Company
(d) Share Capital
(e)Authorized Share Capital
(f) Details of the persons holdings shares in the company
(g) The Total amount of indebtedness of the company (loans, mortgages, charges)
(h) Updated details of all directors of the company
(i) Updated details of corporate secretaries
(j) Signature of the corporate secretary or the director
ABOUT THE AUTHOR:
Antoinette Sydney is an author and entrepreneur based in Trinidad and Tobago.
Disclaimer: The content herein is only for informational and educational purposes and does not constitute legal advice. Please be advised that no attorney/client relationship is created by the publishing of this content. You should consult with your attorney at law for independent legal advice.
No representations or warranties are made about the suitability, comprehensiveness and or accuracy of the information and other content contained on this channel. It should be noted that legal information and content can become out of date and I give no undertaking to keep this blog up to date. All liability for any loss or damage of any kind which may be suffered as a result of accessing and using the information and or content of this blog is hereby excluded to the full extent permitted by law.
The bank keeps asking you for proof of address over and over because:
1.It is part of something called KYC, it means Know Your Customer. Part of knowing you, is knowing where you live and where you operate your business.
2.The KYC information that the bank has on file for you must remain current. If there is a utility bill on file for you from months or years ago, when you visit the bank to conduct a transaction, you will be asked to provide a more recent bill.
3.If you want to do a transaction that is out of the ordinary for you, like deposit plenty cash, the bank may ask for the updated bill as part of additional due diligence.
4.Verifying your home and business addresses helps the bank detect identity theft and prevent fraud.
5.Banks have internal policies and procedures that requires them to obtain your updated proof of address to comply with anti-money laundering laws.
6.The bank also asks for your updated proof of address just in case you moved out or changed business locations.
The bank is not asking your for utility bills for fun, they are getting the paperwork from you to comply with the law and to follow their banking policy.
When a new customer asks for a discount, your response should be strategic.
There are some buyers who are working with a budget, or they are just shopping around for the best deal.
You cannot build a business by dishing out discounts.
These are 10 dangers of giving discounts in your business:
1.You attract low quality clients. They are a nightmare to work with, complain about everything and if they are not 100% satisfied with your product and service, they will gladly go broadcast it and spoil your good reputation.
2. The customers who asks for a discount, do not value your time, experience or expertise.
3.When you give one person a discount, they may go and tell people that they got a discounted price and the others may expect you to give them a discount too.
4.The customer who got through with this discount may push your other boundaries, since they got to beat down your price.
5.You still end up doing the same amount of work or more for less money and this reduces your profit and makes your income unpredictable. This is why some entrepreneurs work all month and wonder where the money went.
6.You exploit yourself when you charge less than your set prices.
7.These low ball, discount loving customers are stressful to work with.
8.If the customer who got a discount refers you to their friends and family, their referrals may also be low quality and not good for your business.
9.Your self confidence drops a little every time you give a discount that you genuinely cannot afford to give.
10.These same customers who want a discount, pay full price by the competition and they give 5 star reviews.
Your price should not be negotiable.
What do you do when new customers ask for a discount?
WhatsApp 868 373-1166 to order your business bank account documents for $660. No discounts, don’t even ask!
Antoinette Sydney LLB LLM LEC CAMLFC CFRMP C.C.Sec is an attorney at law and author based in Trinidad and Tobago. She teaches business banking to entrepreneurs and helps them to open their business bank account.
The Business Bank Account Book: 50 Banking Secrets by Antoinette Sydney is the first book in the Caribbean that comprehensively teaches entrepreneurs how to open and manage their business bank accounts. Entrepreneurs struggle to open their business bank accounts in Trinidad and Tobago because their applications are incomplete or they do not meet the banks’ compliance requirements. Antoinette Sydney is an attorney at law and AML compliance consultant based in Trinidad and Tobago. She is well known as the business bank account boss and over the past 10 years she helped over 1000 entrepreneurs to open their business bank accounts.
Are you interested in opening a business bank account?
Have you tried to open a business account and the bank rejected you?
Do you already have a business bank account and you want to use it to get a business credit card or business loan?
This book will expose 50 of the best kept secrets in the business banking industry. The book also contains responses to 50 frequently asked questions from entrepreneurs about business bank accounts.
The Business Bank Account Book: 50 Banking Secrets will teach you how to open and use your business bank account as a tool to grow your business. You will learn:
How to use your business bank account to get credit cards and business loans.
How to shift your mindset from a small business owner to a structured business owner.
How to navigate the banks’ compliance requirements to successfully open your business bank account.
How to avoid the common mistakes that cause banks to reject entrepreneurs’ new business bank account applications.
A sole trader can use their business registration certificate and business bank account statements as proof of income.
For example, if you get a deal to buy a vehicle or to buy property and you want to go by the credit union or the bank to get a loan to complete the purchase.
The bank or credit union will ask you for proof of income, self employed persons do not have access to a job letter or payslip.
You can submit your business registration certificate and business bank account statements as proof of income.
What happens when you did not open your business bank account? It means that you do not have business bank account statements.
You will lose out on that deal to buy the car or property and someone else who has the cash or can get a loan approved will buy it.
As an entrepreneur, think ahead, 2 years from now, 5 years from now, where can your business take you?
I believe in your business!
I am putting it to you that you should open your business bank account so that you never miss out on opportunities that are meant for you.
WhatsApp 868 373-1166 to order your business bank account documents for just $660.
Do you need to open a business bank account in Trinidad and Tobago?
I am here to help you when you are ready.
I am Antoinette Sydney from ASYDNEYGROUPTT, aka the Business Bank Account Boss and over the past 10 years, I’ve helped over 1000 entrepreneurs to open their business bank accounts.
I created a framework called the ASYDNEY Approval System to ensure that the bank opens your business bank account.
Many entrepreneurs are struggling to open their business bank accounts because their applications are incomplete or they do not meet all the bank’s compliance requirements.
WhatsApp 868 373-1166 to order your business bank account documents for just $660.
Your business must already be registered!
It takes me 3-5 working days to prepare your documents.
Paid 1:1 consultations are available for just $300TTD. #asydneygrouptt #businessbankaccountboss
10 Red Flags that show the bank that you use your personal bank account for business
1.Plenty small payments.
2.Description or notes or comments stating ‘hair, nails, shoes’.
3.Daily cash withdrawals or transfers.
4.Random people sending you money.
5.Same amounts being deposited or transferred from random people.
6.Business expenses being paid from personal account.
7.You received plenty payments over the weekends.
8.Money comes to your personal account and there is no job letter, payslip or employment history on file for you.
9.Your personal account looks like a business.
10.Your account triggers a suspicious or unusual alarm on the bank’s internal banking system.
To avoid the bank flagging and freezing your personal bank account, order your business bank account documents from me for $660, WhatsApp 868 373-1166.
To close your limited liability company bank account in Trinidad and Tobago, submit a written request to close the limited liability company account on the company letterhead.
The letter should be signed by the same signatories that were stated as the persons who can sign to close the company bank account on the letter of request when the company bank account was opened.
Stamp the letter with the company stamp.
Also consult the company by laws to see if there are any special instructions.
Attach the board meeting minutes or resolution where the Board of Director’s decided to close the company bank account.
To book a 1:1 consultation with me for just $300TTD click the link in my bio.
Welcome to The Business Bank Account Show episode 2, hosted by Antoinette Sydney, attorney at law and AML Compliance Consultant. In today’s episode, I discuss 10 things that your new customers think when you send your personal account information for a business transaction.
Your new customers hate it when you send your personal bank account information when they are ready to make payment for your products or services.
1.Hmm, this business looks sketchy, shaky and not legit by sending me their personal account information.
2.Wow, this is so unprofessional.
3.They probably now started the business and don’t know better.
4.They are not a serious business person
5.This business is disorganised
6.Next thing they block me after I pay.
7.I wonder if the person’s name on the personal bank account is the same person behind the page.
8.Nope, I am not continuing this transaction or purchase.
9.I have a bad feeling about this.
10.Hmm, I thought that this was a big business, but they don’t even have a business bank account.
Click the link in my bio to order your business bank account documents or a consultation.
ASYDNEYGROUPTT 