Since the start of the COVID-19 pandemic, both digital-service use and the digital market have grown rapidly in Southeast Asia. According to the e-Conomy SEA 2021 Report by Google, Temasek, and Bain & Company, there are now 350 million digital consumers in the region (defined as consumers who have made …
What is a Business Term Loan?
Many SMEs face difficult day to day challenges that stem from short term cash flow problems. These cash flow problems cause a rippling effect which not only hinder daily operations, but may also impede the long term growth of the company. A study in 2021 by Mastercard indicates that financing …
Trade Financing: Gearing up SMEs for business growth in 2021
Trade finance has been increasing in popularity as a tool to smoothen out financial demands and drive business growth for Small Medium Enterprises in Singapore. This article will give a brief background of what Trade Finance means, its benefits, as well as the four key types of trade finances in …
Understanding Supply Chain Financing for SMEs in Singapore
Understanding Supply Chain Financing for SMEs in Singapore Supply chain ecosystems are like arteries of today’s globalised economy, allowing international trade flows. As world trade gets more and more complicated, competitive, and deglobalised, supply chain financing has evolved along to address the demands of buyers and suppliers. This article explains …
Weathering the COVID-19 Storm with Fintech!
As the tail end of 2020 approaches, it becomes clear that the COVID-19 pandemic and ensuing economic crisis are far from over. On 28 October 2020, The Monetary Authority of Singapore (The “MAS”) published the latest Macroeconomic Review where they maintained the prediction that the Singapore economy will face a …
How SMEs Can Survive and Thrive in the New Normal
One in two small businesses across ASEAN faces cash flow challenges as a result of the pandemic, and Singapore is no exception. While an optimistic V or U shaped economic recovery is possible, the recovery may be L-shaped if the world is unable to control the virus outbreak. This …
SME Grants Singapore: The Definitive Guide 2023 (Updated)
What are SME grants? In Singapore, a small and medium-sized enterprise (SME) grant is a sum of money that has been allocated or given to an SME to further its growth. SME grants are typically distributed by governments, corporations, foundations or trusts. These grants can help SMEs finance their business …
How To Manage Vendor Relationships
Due to the strain in manpower, SMEs typically work with third-party suppliers to fulfill specialised and non-core functions. The question for outsourcing lies with how and when. Managing vendor relationships is key to ensuring an efficient, problem free and sustainable operation. Spend time to communicate regularly Regular communication is crucial …
4 Things To Know Before Getting A Property-Backed Loan
What are property-backed loans? Do you know that you can potentially free up working capital for your business if you own a local residential, commercial or industrial property? Property-backed loans are secured loans taken by pledging a local property as a form of collateral against the loan. The pledged local …
Financing Products Are Aplenty, But Why Aren’t Enough SMEs Getting Them?
In Singapore, SMEs (small and medium-sized enterprises) represent close to 99% of all enterprises. However, numbers can become glaring quickly when we look at mortality of these SMEs. Amidst the coronavirus pandemic in 2020, SMEs are expected to see slower growth and experience a sink in business sentiments. In trying …