“I want to be an employee for as long as possible!”
Said absolutely no one ever.
There’s no better time than the present to make use of the new measures announced for Budget 2016 to kick some of those plans into action. Already started your own business and looking to expand overseas? You can stop being a Lone Ranger and become an Asian powerhouse.
1. You get a senpai (senior)
Let’s face it. Starting a business is serious business. Suffice to say, we all need someone to hold our hands, especially when you are new AF in the cut and thrust world of business.
Say you’ve this potentially amazeball idea but not sure whether it will fly.
Don’t worry. The gahmen has indented some senpais to guide you towards the light (no, not lights of a freight train).
The new entity, SG-Innovate, will match you with mentors and allow access to capital venture firms. Pretty much everything you will need to get things off the ground.
2. Loans to get you started
Any budding towkays should really take advantage of the new SME Working Capital Loan scheme, where the Government will loan you up to $300,000 to kickstart your business.
How? The gahmen will co-share 50 per cent of the default risk of such loans with participating financial institutions.
3. Create your own Skynet. Sorta
With the nation’s obsession with automation and robotics, you can be sure there’s a loan scheme that helps boost productivity while you kick back.
Are we surprised to see a better loan scheme that will see the gahmen increase risk-share from 50% to 70%? Or the $450 million pumped into the new National Robotics Programme?
Nope and nope.
4. Want to upsize?
A McDonald’s aficionado wet dream, you get free upsize.
Ok it’s not really free upsize for your business but at least you get a leg up when you want to grow it.
The SME Mezzanine Growth Fund will increase from $100 million to up to $150 million to help those ambitious towkays who want to upsize their business.
5. Level up for free
At least for the first $500. Because SkillsFuture.
While the going might be tough at the start, upgrading your skills on the government’s dollar might be the best possible scenario. At the end of the day, you will be totally awesome and self-sufficient for any challenge ahead.
Change is always a constant but wouldn’t it be more awesome if you could navigate the tides yourself instead of riding the wave? The time to act is now.
Top pic via
This post fuels Mothership.sg and helps us be our own towkays.