There are various startup schemes and government grants provided by the government in Little India Singapore that you can benefit from. There are a number of business support grants for companies to help them overcome obstacles in their growth. Overall aim of these grants is to help businesses in capability upgrading and internationalization.
Government knows the important role that its startups and SMEs play in its economy and hence support these entities with business support grants. Financing is one of the most fundamental aspects of starting and growing your business. There are hundreds of government grants available for small businesses that help in saving money, lowering startup costs and helping grow your business.
Business support grants are small amount of seed money that further the goals of federal, state, or non-profit organizations. Unlike a loan, you don’t have to repay it. Most business support grants in Little India are awarded to help launch a start-up or new business, with the aim to generate jobs and stimulate the economy. There are fewer grants available for established businesses.
Importance of On-The-Job Training
Government can assist businesses in two ways- financial help and administrative support. Understand what government grants are available to businesses. Grants are available to sole traders, partnership, limited companies and social enterprises.
Now grants aren’t just government funded as more and more organizations develop grants program in Little India. Grants are now offered by government, private agencies, universities, corporations and humanitarians.
Business grants are available in all kinds of forms. Generally, business support grants are either a direct grant, equity finance or a soft loan. Direct grant is money given to your new business to cover startup essentials such as investment in equipment, training or reaching new markets. Equity finance, not strictly a grant, offers reduction in income tax on investment made in new businesses. Soft loans are actually loans with lower interest rates and more generous terms than other lending.
Training and development (also labelled as "learning and development") is always acknowledged as crucial to the success of any business; both in-house and outsourced; whether training courses, on-line learning or executive coaching. Conversely, it is often the first area to feel the cutbacks when times are hard. As a busy executive, it can be challenging to balance the responsibility for developing your team with reducing budgets and focusing on the bottom line. However, think positive, it may not be your responsibility only.
So how do we define training and development (or T&D for short)? How about: equipping people with new skills, knowledge, attitudes or experience which they are then able to apply to their workplace and careers? That's a nice, broad definition which we can break down into three broad categories:
* what people need to do their job as it is today;
* what people need to do their job was it will be tomorrow; and
* what people need to do the jobs they want in the future.
From this we see that T&D can equip people to do their job, stay abreast of the changing requirements of that job and also help them in their career progression. Therefore, there are clear immediate benefits to the business (the first two categories) and definite future benefits to the individual (their career.) Of course, the individual also benefits from being well-trained in their daily role and the business benefits from developing its own future executives in-house.
At this point, we might want to question this word, "training", which tends to suggest activity geared towards a specific task or role. It also implies a process that is done to the individual rather than being something that they can fully engage with (after all, dogs are 'trained'.) Perhaps the better and more inclusive term would be "learning", which suggests a wider range of options (including mentoring and coaching) and also, perhaps, a wider range of applications.
Returning to the issue of responsibility: if the benefits are shared, shouldn't the responsibility also be shared? Traditionally, a manager might appraise each team member (sometimes in secret), personally decide what they needed by way of improvement and then prescribe the appropriate off-the-shelf training course. This is a Doctor model, where the manager acts as authority, diagnostician and decision-maker. Within limits, it can be efficient and it certainly saves time, but the lack of involvement of the individual can lead to lack of engagement with the training and therefore a lack of benefit.
These days we see more of a Coach model in which the manager and individual discuss the training needs and make decisions together. The coach guides the individual through the process of identifying and meeting their development needs with an emphasis on which solution will suit both them and the business. Those with particular potential, the 'rising stars' may even manage their own development allowance or budget and be free to seek tailored coaching outside the organisation (on the understanding that the results are applied within the organisation.)
Ask yourself how it works in your workplace. Do individuals have development objectives? Are they imposed or agreed? How are development options chosen? Is the criteria solely business efficiency or does it also take into account the individual's learning style? Is there support available to apply the learning to their role? Are they coached through their career development?
So think positive and engage your team in their own learning. The key factors are: involvement; discussion; business needs and personal aspirations; not just "training" but "learning"; and joint decision-making. That can mean joint success for you and your people.
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Many programs can assist small business to access professional advice and support in critical early stages of establishing a business. While there are a lot of grants available, getting a business support grant from the government can be a challenge. Government grants are often complex with lots of processes and stages, and each grant will have its own requirements and criteria for applying.
While being awarded a grant is winning, they are notoriously hard to acquire. Not only are grants programs highly competitive, they can take months to process. Aside from finding one you’d be eligible for, you have to compete with other companies for the same. The other downside is that grants usually come with specific instructions on how you can use the money.
A grant for companies in Little India Singapore can give your business a huge leg up and can be a great alternative to traditional finance. To apply for grants, first become familiar with the process. Eligibility for grants will vary depending on the grant in question.
Do your research. Identify programs that are a match for your business. Apply for the grant and submit eligibility requirements. Keep in mind that you’ll need to meet certain criteria to be eligible.
1.On-the-job Training and Lectures
The two most frequently used kinds of training are on-the-job training and lectures, although little research exists as to the effectiveness of either. It is usually impossible to teach someone everything she needs to know at a location away from the workplace. Thus on-the-job training often supplements other kinds of training, e.g., classroom or off-site training; but on-the-job training is frequently the only form of training. It is usually informal, which means, unfortunately, that the trainer does not concentrate on the training as much as she should, and the trainer may not have a well-articulated picture of what the novice needs to learn.
On-the-job training is not successful when used to avoid developing a training program, though it can be an effective part of a well-coordinated training program.
Lectures are used because of their low cost and their capacity to reach many people. Lectures, which use one-way communication as opposed to interactive learning techniques, are much criticized as a training device.
2. Programmed Instruction (PI)
These devices systematically present information to the learner and elicit a response; they use reinforcement principles to promote appropriate responses. When PI was originally developed in the 1950s, it was thought to be useful only for basic subjects. Today the method is used for skills as diverse as air traffic control, blueprint reading, and the analysis of tax returns.
3. Computer-Assisted Instruction (CAI)
With CAI, students can learn at their own pace, as with PI. Because the student interacts with the computer, it is believed by many to be a more dynamic learning device. Educational alternatives can be quickly selected to suit the student's capabilities, and performance can be monitored continuously. As instruction proceeds, data are gathered for monitoring and improving performance.
4. Audiovisual Techniques
Both television and film extend the range of skills that can be taught and the way information may be presented. Many systems have electronic blackboards and slide projection equipment. The use of techniques that combine audiovisual systems such as closed circuit television and telephones has spawned a new term for this type of training, teletraining. The feature on " Sesame Street " illustrates the design and evaluation of one of television's favorite children's program as a training device.
Training simulations replicate the essential characteristics of the real world that are necessary to produce both learning and the transfer of new knowledge and skills to application settings. Both machine and other forms of simulators exist. Machine simulators often have substantial degrees of. physical fidelity; that is, they represent the real world's operational equipment. The main purpose of simulation, however, is to produce psychological fidelity, that is, to reproduce in the training those processes that will be required on the job. We simulate for a number of reasons, including to control the training environment, for safety, to introduce feedback and other learning principles, and to reduce cost.
6. Business games
They are the direct progeny of war games that have been used to train officers in combat techniques for hundreds of years. Almost all early business games were designed to teach basic business skills, but more recent games also include interpersonal skills. Monopoly might be considered the quintessential business game for young capitalists. It is probably the first place youngsters learned the words mortgage, taxes, and go to jail.
Each scheme is different. Check you meet the general terms and conditions. Talk to the grant body to assess chances of success. Read grant objectives carefully. Have a great business plan.