SMEs take cue for deep change

According to tabulations released by enterprise development agency Spring Singapore last week, the number of SMEs that tapped government grants to embark on productivity initiatives fell to 16,300 last year from 20,000 in 2015. The lower grant uptake last year was also the result of Spring becoming more selective in its spending of grant funds. No more incentives were given for adopting applications like basic accounting software. As a result, SMEs had to get serious about skills and equipment upgrading. Spring’s report shows that some SMEs are recognizing that a downbeat economy might be the best time to carry out deep change. Thus more working capital and funds are needed for the growth of SMEs in Singapore. It is New Fintech solutions can provide in-time help for the companies.

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P2P Platform: A contemporary approach for Singaporean investors

The growth in Fintech has provided new sources of alternative finance. Some online Platforms have become more than just a means of matching borrowers with lenders for a higher yield and less volatility than conventional fixed-income asset classes.Invoice financing is one form of alternative finance which is set to become even more important in Southeast Asia especially in Singapore. By replacing traditional “brick-and-mortar” middlemen with technology, such platforms are able to reduce the cost of servicing, and funding typical loans. As a result, borrowers receive a lower interest rate whilst lenders receive a more attractive rate of return. Investors are able to earn relatively high return (<20%) on a short-term loan for a relatively smaller risk. This has become the new methods for accredit/institutional investors as well. Continue reading