Find grants, funding and support programs from across government to help your business grow and succeed. When searching for funding in Downtown Singapore, keep in mind that you’ll generally need to meet certain criteria to be eligible, and that aside from funding assistance, many programs can help your business by building your skills and knowledge.
In addition, the job search process can be mentally and emotionally challenging, not to mention the financial opportunity costs of not working in Downtown is usually high.
Common scenarios include fresh graduates looking for their first full-time job; mature workers hoping to start a new phase of their career; or those who got retrenched and wish to find employment.
Unlike in the past, where people work for the same employer for the entire duration of their working lives, the working adults of today will find themselves in the market for a job much more often.
Positive Approach To Obtaining Business Grants From The Government
Many don't realize that in order to be successful in business funding one must always be aware of where your business is at in terms of its development.
For clarity there are three broad areas that cover the various rounds of funding. They are:
1. Seed Stage
2. Early Stage
3. Later Stage
The seed stage is the start up stage where you dig into the financial network that you have readily available to you. Namely your own funds or that of family and friends.
During this time Angel Investors and Venture Capitalist are difficult to come by because the business model has not shown enough promise at this point. This phase deals with the building of the foundation and infrastructure of your business.
This is the stage where you will refine your model and build a strong team around you that will be able to maximize on the business opportunity at hand.
The next stage is The Early Stage. This stage focuses on:
This is the stage where you will be in pursuit of Angel Investors who would look strongly at the progress you have made in the seed stage.
The Later Stage focuses on:
At this point if your business model is showing the potential to garner 25 Million in earnings or more a year you would be in proper alignment to take on venture capital funding.
This stage considers an IPO (Initial Public Offering) or Buyouts be they MBI or MBO. Also under this umbrella would come;
At the end of the day if your company has the potential to go global while remaining profitable money will come. The pursuit of Angel Investors and Venture Capital Funding has been compared to building another business in terms of the energy and resources that have to be exerted.
Yet what we have seen in looking at models such as Google, Microsoft and Amazon is that with the right knowledge of funding you can take that business that you started in the basement or garage and turn it into a billion dollar company.
To support Singaporeans based in Downtown in these aspects, here are the government grants and resources that you can utilize. These programs are administered by Workforce Singapore, a statutory board under the Ministry of Manpower.
A service excellence seminar will give you the competitive advantage you need to survive in a tough business climate. In today’s customer-oriented business environment, people skills are critical for personal and organizational success.
Likewise, a customer service excellence seminar gives you the skills you need to communicate professionalism, gain respect, enhance customer relationships and secure an overall competitive advantage through customer service excellence.
How you handle your customers can directly affect your individual goals as well as your team’s and company’s performance.
Apply For Free Government Grants
You may have a vision for a new real estate development project, a new business, or expansion of an existing real estate or business project. Perhaps you have already invested time and money in developing the preliminary concept, but prior to securing financing, partnerships and/or investment capital for your project it must be appropriately positioned and prepared.
The pre-development work that takes place at the initial stages of the project is critical for funding, and it has a direct influence on the timing and success of the project. You must be able to elaborate your concept and the details of your project in a concise and compelling manner, and demonstrate market demand, feasibility, financial realities, profitability and the circumstances surrounding the project professionally and comprehensively. Some entrepreneurs attempt to take on these tasks themselves, and they rely on their own expertise to document their concepts and to pursue financing, partnerships, and investment funding. Other entrepreneurs work with consulting firms or other organizations that provide additional expertise in these areas. Regardless of the approach, pre-development work is a necessary and critical part of the funding process for your project because it comprises much of what lenders, partners and investors will review when considering funding your project.
Seed capital (or start-up capital) is often a source or strategy for funding pre-development work. The amount of seed capital required depends on the project, but it is usually significantly less than the equity and financing amounts that will be sought after later to fund the entire project. Seed capital can be secured by an asset, or unsecured; and it is typically used to fund the following processes and services: Strategic development plan, and/or business plan; Design details (preliminary architectural and engineering); Financial pro forma analysis; Feasibility analysis; Capitalization plan; Market study; Multimedia presentations; Legal work; Site analysis; Site acquisition; Municipal approvals; Government incentives; Pre-marketing/sales; Accounting; Prototypes; Web page; And other professional services.
While all or some of the above services and processes may be necessary to obtain project funding because they help professionally convey the concept, benefits and details of your project effectively to prospective lenders, partners and investors; They can also be costly and can create a barrier in the development process if you cannot afford to pay for them. Seed capital funding can be a helpful strategy used to secure the required professional services and implement processes that bring life to the project and help position the project for funding.
Many companies that have been successful in raising seed capital in today's economy have implemented some or all of the following strategies:
1) Strategic development plan: Have a professional strategic development plan prepared for your project. Not just a business plan. A strategic development plan incorporates various components of the business plan, but also demonstrates the step-by-step processes and strategies that will be implemented to take the project through the development process to profitability, and provides a greater depth of financial and market analysis with validation documentation for the financial and statistical information provided. A professionally-written strategic development plan highlights the strategies, funding structures, incentives, tactical relationships, methodologies, and approaches of the project to effectively carry out the development process and create an advantage for the project in the marketplace.
Note: Many lenders, partners and investors may give greater merit to a strategic plan that is prepared and presented by a third-party consultant on behalf of the principal of the business, than a business plan that is prepared by the principal himself/herself; In the same way that a lender may give more merit to a market analysis prepared by a certified appraiser, than by the borrower.
2) Multimedia presentation: Prepare a concise and impressive multimedia presentation that will effectively convey the details of your project in a bullet-pointed and illustrative manner.
3) Compile a list of investors: Prepare a list of prospective seed capital investors, including their contact information. Consider the following possible sources for compiling your list of prospective seed capital investors:
* Engage a professional organization with expertise in this area to assist you in sourcing prospective seed capital investors.
* Work with chambers of commerce to identify businesses and individuals in the area that may be interested in your opportunity
* Online research. Spend time to find investment companies and individuals using the search engine of your choice (Google, Yahoo, Bing, etc.), and "weed-out" those that are least likely to invest in your type of opportunity, so that your list is as relevant as possible.
* Local business and social organizations.
* Attend business networking events, activities and conventions related to your market, product, services and industry.
* Engage a financial broker with expertise and a track-record of success in this area.
Note: Sourcing seed capital investors on your own takes time, dedication and devotion to the amount of research, networking and other activities involved. Rarely will a company find their seed capital investors after a few hours of searching online, or after making a few phone calls. It is a dedicated effort, thus a team approach is involving multiple parties is recommended.
4) Investment documentation: Structure the seed capital investment opportunity by creating the necessary documentation that will be provided to prospective investors, such as an investment proposal, investment agreement, prospectus document, subscription agreement, escrow agreement, etc. It is strongly suggested to proceed with the advice and guidance of an attorney to ensure that SEC regulations are not violated.
Note: Reducing the minimum investment amount required per investor and providing generous returns typically provides a larger availability of prospective investors for your project. Find the balance that is most suitable for you and your project.
5) Seed capital presentations/negotiations: Contact the list of prospective seed capital investors, and meet with them individually or arrange group presentation meetings to present and discuss the opportunity with them. Describe the terms in detail, and provide the investment documentation.
Note: It may be advantageous for the presentation and negotiations to be given by a third-party professional firm on behalf of the principal, with the principal present and participating in each presentation and negotiation meeting. Investors tend to feel greater assurance concerning the project and investment opportunity when they see that a professional firm is involved with the principal.
6) Funding. Once an agreement is reached, funding from seed capital investors can take place in a variety of forms. An effective strategy that provides additional assurance to investors involves creating an escrow account that is managed by the project attorney or a title company. In this case, the investor writes the check (or provides another form of payment) to the escrow holder, not directly to the principal. This helps to ensure that the funds will be used for the purposes specifically described in the investment agreement. This process involves creating an escrow account, escrow agreement and other formalities, but the effort an expense is often worthwhile to give investors the additional assurances that can help engage their interest in investing in your project.
This article is intended as a brief summary or overview for arranging a seed capital investment program for real estate and business development projects. It provides an outlook of viable approaches that have been used successfully to raise seed capital for a wide variety of projects. There are numerous additional strategies, methods and approaches can be incorporated, however, a basic understanding and the above insights and summarized strategies can be a good first step to help you develop a successful seed capital investment program.
Who Should Attend ?
Thelearningtobefearless advocates that you belong to any of this you should consider attending such skill enhancement programs. Small business owners, customer service representatives, technical and support personnel, field service representatives, account managers, credit and billing specialists, as well as managers who want service excellence training.
How You Will Benefit ?
You would be able to deliver better, faster service, and increase customer satisfaction through a customer service excellence seminar. You will learn how to gain repeat business in Downtown Singapore.
In addition to all this you should often check the Government jobs portal that aims to provide Singaporeans and Permanent Residents (PRs) with free job search service that matches them to jobs based on their relevant skills.