I honestly regret registering a company with PSIRA. Instead of supporting small businesses, the process feels like a punishment, especially when the company is not operating

I established the company but never managed to find work, and it became difficult to keep up with the annual fee since the business was not operating. I asked if they could allow me to pay the outstanding amount in instalments, but they refused and demanded 50% upfront, which I could not afford.

This year, when I contacted them again, I was told I had to pay the full amount in order for them to withdraw the company. No wonder so many "fly-by-night" security companies exist — those who want to do things by the book are punished instead of supported. On top of that, they are adding penalties of 11–12% every month on the outstanding amount.