Find grants, funding and support programs from across government to help your business grow and succeed. When searching for funding in Bedok 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 Bedok 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.
Capital Funding For A Small Business
Sources of business finance can be studied under the following heads:
(1) Short Term Finance:
Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.
Sources of short term finance are as follows:
(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.
(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.
(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.
(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.
(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.
(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.
(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.
(2) Medium Term Finance:
This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:
(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.
(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.
(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.
(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.
(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.
(3) Long Term Finance:
Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:
(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.
(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.
(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.
(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.
(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.
These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.
To support Singaporeans based in Bedok 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.
Stages Oof Capital Funding
After completing your guide, you need to get that reviewed by someone. There are three types of reviews. First one is Peer Review, second is Subject Matter Expert (SME) review and the third one is Grammar Review. The first review, which is Peer Review, has to be done by your fellow technical writers. During this review, the reviewer goes through the stuff for clarity of instructions, verify and validate written functionality, and check for grammatical errors. Eighty percent of the guide review will be completed during the peer review stage. Unfortunately, most of the times, people do not find time to do a satisfactory peer review. And in some cases, employees' tries to settle personal scores using this as a tool. However, peer review if done properly, then the chances of finding errors in later stages of reviews will deliberately go down.
Technical writing demands a precise, concise, and surgical way of presenting the content to the end user. The writer is supposed to follow the task, understand it, and need to convey the same to the end user in a lucid way. Understanding complex functionalities and presenting them in a lucid manner so that a layman can understand the stuff is not so easy. The writer need to know where s/he has to chunk the stuff so that it is properly convey the underlying idea without wasting the precious time of the reader. However, most of the times, it is easier said than done.
After completion of the task or guide, as per Document Development Life Cycle (DDLC), the said document has to undergo different kinds of reviews. The idea is that by the time the document completes its final review stage, the matter in the document represents exactly the original functionality of the product without any errors or deviations. Most of the companies follow a process where the written document will get reviewed at least once or twice for both the functionality and grammar check.
Peer review is the first stage review. In this review, the document is expected to be cleaned from different errors by at least 80%. The colleague technical writers will do this review. Concentration will be on the functionality and grammar part during this review.
Peer review is heavily dependent on good relations and understanding between the colleagues. One can mar the advantages by playing office politics and cornering the writer in question. These kinds of problems are so common in organizations. The only remedy for these kinds of problems is to conduct the peer review under the supervision of a Project Manager, who has good experience in managing personnel.
In summary, peer review has many advantages. It has the capacity to filter 80% of the errors in the first stage itself. Peer review, when conducted under the supervision of a good personnel manager, will definitely give best results.
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 Bedok 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.