There are various startup schemes and government grants provided by the government in International Business Park 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 International Business Park 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.
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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 International Business Park. 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.
Confucius once said: "If all I do is hear, I will forget. If I hear and see, I will remember. If I hear, see and do, I will understand."
On-the-Job-Training or OJT is job training that occurs in the work place. It has many advantages, but it can also have a few disadvantages if the OJT is not planned and executed properly. It is part of a college curriculum that aims to train and orient students about the work and their future career. It is very important not only to teach students their chosen career but to show students the reality about working.
Most students nowadays are not serious in their training. They don't plan ahead and pick the best company that they can choose. Worst, they ended up cleaning the desk of their superior or doing unrelated tasks.
Here is why students should not take OJT for granted:
1. If you will get a high evaluation grade, your employer might hire you when you graduate.
2. Your background OJT is very important when applying for a job. Oftentimes, employers will ask you the relevance of your training to your course and to the position you are applying for.
3. Some companies will give you a monthly allowance if you are doing well in your tasks.
4. OJT will be your training ground. If you still have no idea on what is meant to be a worker, OJT will give a hint of career realities.
5. Your OJT superior my recommend your skills to other companies whom he knows.
6. It will give you a sense of confidence that you can use when applying for a job after graduation
7. Help individuals make informed career choices
Students should realize the importance of OJT on their future career. Having a good performance during OJT is very important especially now that there's a tight competition towards job seekers and the high qualification of companies.
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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 International Business Park 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.
United Kingdom residents who are between the ages of 18 and 60 may be entitled to a family income support benefit if they are working less than 16 hours per week. Children between the ages of 16 and 17 are rarely entitled to such a benefit, although there are exceptions for lone parents and students who are following a training course approved by the government.
In the case of a person living with a partner, only one partner may claim a family income support benefit on behalf of both people. In order to remain eligible for this benefit, a person's partner may not work more than 24 hours in a given week. If you claim on behalf of both yourself and your partner, their assets shall be taken into account along with your own. This policy is not intended to be discriminatory and applies equally to heterosexual and homosexual couples, regardless of marital status.
Residents of England, Scotland or Wales must open a claim application by telephone. There are freephone numbers available for both English and Welsh speakers. You may also visit a Jobcentre Plus location to make a claim in person; however, you likely shall be guided to use a public telephone to finish the claim. Northern Ireland residents should visit their local Jobs and Benefit Office or download a claims form via the Internet for job seekers allowance.
Applying for a family income support benefit requires a national insurance number. Claims representatives can look up a misplaced number if given evidence of your identity such as your birth certificate. If you do not possess a national insurance number, you must apply for one prior to applying for a family income support benefit. Partners must both provide their numbers. You will also be required to provide proof of your income within a month of making your application.
The Department for Work and Pensions takes benefit fraud quite seriously, so you must supply all information to the best of your ability and report any change in income or circumstances straight away. If you are not confident about the application process, you may consult with an adviser via your Citizen Advice Bureau.
Once your application has been accepted, the Department for Work and Pensions shall determine your benefit amount. You will receive a personal allowance based on your needs. In certain cases, you shall also receive a benefit due to higher living costs related to a disability or medical condition.
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.