There are various startup schemes and government grants provided by the government in Admiralty 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 Admiralty 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 Admiralty. 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 Admiralty 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.
I actually Googled online marketing course and Get Smarter came up first. I researched it and decided this was something I really wanted to do. I had become quite stagnant in my business although I love my business! But my business partner runs most of the operations.
I just felt that I needed to just get some more nurturing and innovation - I was feeling a bit flat. The reason I decided to take the course was very simply; when you are in the marketing field you've got in stay ahead - it's like on a treadmill, if you don't keep walking, you are going to end up behind at the back-end of the pack.
So, for me it was imperative that I actually know exactly what's going on on the internet marketing side. You've got Social Media, you’ve got Advertising you've got Search Engine Optimization, you've got Content Marketing. It's a whole host of different platforms. Where the web design course would be basically on how to develop a web, learning HTML. I am still getting my head around HTML. This gives you an overall platform.
The Internet Marketing is a practical course, that's the difference! breaks the divide between knowledge and application, and also the application into your business. The concerns that I had to study online were various; first of all I was completely intimidated. I don't come from that base, I'm not a computer guru. Also how am I going to manage running a business, three children, two of my nieces also at UCT live with me, from Zim, my son. How I can manage? But But in essence, the online is the easiest. It's the best! Because you can actually fit it around your lifestyle. I'm a preacher for it, I say "Guys, you have got to go online".
There is no intimidation, you are not worried about next student. Potential students considering doing the course, quite simply tell them: do it! Do it now. Don't wait. The reasons being, if you young, you are with it. You can get to grips very easily with the actual content. If you're older, in a job like me, you can do it part-time. Its internationally-recognized, its recognized by UCT which is my old University. I would love my son to take this course, and he's busy studying up at UCT, he's doing B. Com Economics, and I would love him to be studying course! He's 24.
I think anybody in business, I think it's vitally important if you are in business. If you want your business to be successful and you want, particularly us in the hospitality industry, you want to be successful, that's the route you have to go. Also, on top of it, t does it in ten different bite-size chunks. That allows you to carry on working as in my position, a senior position, and also do the course.
How did I feel when my certificate arrived? I felt so huge in my house! My partner of 14 years, he is ex-UCT boy, my son is at UCT, my two nieces who live with me are at UCT, and now I was part of that. I felt like I was in digs! And it's just been fantastic, I have it on my wall at the office for everybody to have a look at, and i really feel like I have achieved something. Just having that little logo, makes me very proud.
So my advice is: don't hold back. It doesn't matter how old you are - it is fantastic! I wish I found this 15 years ago. And I am pleased that I have found it. My goal is to to try and do a course every year.
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.