Updates

Greater government support for business loans

Kwang Wei No Comments

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“More than half of the companies polled in SBF’s National Business Survey 2015/16 faced financing issues. Moreover, SMEs, by virtue of their scale, often face obstacles obtaining credit from banks and financial institutions. Despite their financing challenges, SMEs are keen to expand and restructure. The SME Working Capital Loan offers a welcome relief for some of these SMEs, enabling them to address their immediate financial concerns as they look for growth opportunities.”

Mr Ho Meng Kit, Chief Executive Officer of the SBF

 

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  1. Local SMEs will have greater access to financing starting 1 June 2016 through the SME Working Capital Loan. Administered by SPRING Singapore, the programme addresses SMEs’ cash flow concerns and growth financing needs through unsecured working capital loans. SME Working Capital Loans will be offered by 12 participating financial institutions (PFIs). SPRING Singapore will co-share 50% of loan default risks with PFIs and SMEs can apply for unsecured term loans of up to S$300,000 each. The scheme is expected to catalyse more than S$2 billion of loans for SMEs over the three-year period.
  2. The SME Working Capital Loan was introduced at Budget 2016 as one of the measures to address near-term concerns while encouraging business growth and restructuring activities. The programme provides an additional financing channel to support viable SMEs with larger working capital needs. These companies may have cash flow concerns or wish to continue growing their business in the slowing economy.
  3. Based on Singapore Business Federation’s (SBF) National Business Survey 2015/2016 findings, more local enterprises are facing financing issues, such as rising cost of bank loans, and difficulties in renewing financing. At the same time, the survey found that close to three in five companies have plans to increase their investment for business expansion this year, in areas such as employee training and development as well as technology deployment for productivity improvements.
  4. Mr Ho Meng Kit, Chief Executive Officer of the SBF, said, “More than half of the companies polled in SBF’s National Business Survey 2015/16 faced financing issues. Moreover, SMEs, by virtue of their scale, often face obstacles obtaining credit from banks and financial institutions. Despite their financing challenges, SMEs are keen to expand and restructure. The SME Working Capital Loan offers a welcome relief for some of these SMEs, enabling them to address their immediate financial concerns as they look for growth opportunities.”
  5. “The SME Working Capital Loan is introduced to enhance financing support for enterprises and improve credit availability in light of the current economic situation. The objective is to help viable SMEs continue meeting their cash flow needs, and stay the course in their upgrading journey,” explained Ms Chew Mok Lee, Assistant Chief Executive of SPRING Singapore. “We will continue to monitor SMEs’ financing needs vis-à-vis economic conditions, and adjust our schemes to address situational changes.”
  6. To be eligible for the SME Working Capital Loan programme, SMEs must be registered and operating in Singapore, have a minimum of 30% local shareholding, and a group annual sales turnover of not more than S$100 million or group employment size of not more than 200 employees.
Information extracted from SPRING official site

 

Motra: process-driven Point of Sales system

Kwang Wei No Comments

motra-logoMotra was initially developed with the mobile retailing businesses in mind for an effective solution targeting a rather niche industry. Recently Motra has gone through some changes where certain components of Motra has been re-designed to be modular in view of the variability in business processes of other industries.

 

Process-driven POS solution

Motra surveryed different mobile retailers in the market to identify best practices whose activities mainly revolves around sale of mobile device, accessories, performing repair and buying back pre-owned handsets. While the cluster of activities may indeed be unique to the industry, individually they may be useful to other industries.

Amongst them, is a job module that allows repair processes to be closely monitored for parts utilization, cost computation and staff performance. This also enhance accountability in automobile repair processes where costly components are utilized over the course of repair.

The pre-installed modules include workflow for buy-back, job, package, scheduling and rental on top of the standard goods and service transaction on regular system.

 

Unique entity inventory management

Another unique aspect lies in the inventory management. In most cases, homogeneous product (like how one bottle of water is not too different from the next) is grouped by a single SKU, bigger ticket items like phones are treated as a unique SKU with their individual ID number.

For example, if your shop is carries 10 units Iphones 6 plus, with each bearing a unique imei number; they are reflected as a group of 10 items by their name and common attributes (harddisk space or even color ). You may also configure the system to average the cost price across this group or simply keeping to their individual original cost price. When you sell or transfer items, you will be required to select specifically the units by the id/imei number unique to the set.

 

Infinite possibilities

Motra is built to be future-proof. You will be able to perform your transactions and generate reports in a way unique to your industry through customized modules. If you feel that Motra could be of service to your business, we would like to invite you to experience our product. Kindly drop us an email at kwangwei@sol59.com to arrange a product demo.

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