10 Easy Steps to a Perfect Pitch For Investors

10 Easy Steps to a Perfect Pitch Investors Can’t Resist

Anxious about your business pitch? You have the right reasons to be. We prepared 10 easy steps to a perfect pitch. Find out how.

A pitch may just take a few minutes. But, it has the power to propel your business to the top. Or crash it into dust.

That is why you need an irresistible pitch that gets funded.

Open a golden opportunity.

Create a pitch that makes heads turn and lingers in the investors’ minds.

easy steps to a perfect pitch

Credit: https://blog.hypeinnovation.com/6-steps-to-pitching-your-startup

10 Easy Steps to a Perfect Pitch

1. Focus on a single product

 

2. Write a business plan

 

3. Show your figures

 

4. Keep your elevator speech short

 

5. Your presentation should not be longer than 15 minutes

 

6. A thought-out executive summary

 

7. Realistic exit strategy

 

8. Never ask for a Non-Disclosure Agreement

 

9. Work on your delivery

 

10. Be open-minded

Each investor has their own reasons for funding a business.

Some invest based on facts and experience, while others consider how they deliver the pitch. And your goal is for the investors to beg for a piece of your business.

It sounds impossible, isn’t it?

But don’t fret. It can be done. If you know what your investors want, learn how to tempt them. Therefore, create an irresistible pitch to entice and convince them. Take note of our helpful tips to achieve your goal.

However, what if you failed and didn’t win the additional funding you need for your business? Don’t worry. Also, you can reach out to trusted licensed money lenders for immediate cash.

Some reviewed moneylenders and credit companies such as Cash Mart offer business support. Through a small business loan in Singapore, it is possible to help you have a better cash flow for your business.

How to Use Pokémon GO to Instantly Boost your Sales

How to Use Pokémon GO to Instantly Boost your Sales

By the looks of the social media platforms, you will instantly see how Pokemon Go caught players all over the globe. With the combined existing fandom of hit anime series and Nintendo video games, Pokemon, and unique role-playing simulation game with augmented reality, Pokemon Go had made a grand hit. And it has landed here in Singapore.

To give you an idea of how much impact it brought to Singapore, you can see various organizations posting and using relevant hashtags to keep players within safety boundaries. For example, the Republic of Singapore Air Force, Singapore Police Force, and PUB reminded the Pokemon Go players to keep out of the restricted premises and be alert to their surroundings. With Poke-fever, now is your chance to lure more consumers.

use Pokémon GO

Credit: https://www.bbc.com/news/blogs-trending-37752730

Your Business Can be a Gym or PokeStop

You have to open the Pokemon Go app to check the map if your shop is a Pokemon Gym or a PokeStop. The Pokemon Gym is where players of one team coming from either team Mystic, Valor, or Instinct can challenge another team and gain leadership over the gym. A PokeStop is where players can get items, eggs, and pokeballs and see where other Pokemons could be hiding.

If your shop is not indicated as either a gym or a PokeStop, you can send a request.

Activate ‘Lure’ for just US$1

With a Lure Module, you can attract Pokemons for at least 30 minutes. Pokemons do not just pop up in many locations. Some players are voicing frustrations over social media as they can’t find any Pokemons in their places. Use this to your advantage.

To activate Lure, you must tap the Pokeball icon at the bottom. Next, choose ‘Shop,’ then tap the purple icon. You will have to pay at least US$1 for 30 minutes of luring effect. Once redirected to the app, tap the Pokeball Icon to choose ‘Items.’ You can finally activate the Lure. Pokemons will appear and spawn faster than in other areas.

Capitalize on your business near Pokemon Gyms

If you are lucky enough to be near a gym, then take advantage and use it as a marketing tool. Since gyms attract a lot of players, you can whip up various marketing strategies.

  • Give freebies to those who can show a screenshot of a high-level Pokemon caught. It could be a small item, but a freebie is still a freebie. If your shop is a café, you can offer free Pokemon latte design, in which the player can take a photo and post on Facebook and other social media.
  • Give discounts for the winning team: either team Mystic, Valor, or Instinct. In addition, you can keep a board on top of your counter to inform players which team the gym currently belongs to.
  • Expand your social existence by using relevant hashtags such as #pokemongo. You can post various catch praise with hashtags or even use photos of players in your store and screenshots of items and Pokemons near your brand or logo.

Take your business where Pokemon Go

Open the app Pokemon Go and activate Incense, then take a screenshot photo of a rare Pokemon that appeared in your shop. Post it on your social media accounts and website. Optimize your Facebook existence with tools such as AdEspresso to catch the attention of the locals specifically.

Put signage on your window offering charging stations with free Wi-Fi

Pokemon Go uses data or WiFi because it is an online line. It also uses GPS to track the players. While players are out catching Pokemons, it is very possible that they run out of battery juice. Attract the players by letting them charge up in your shop either for free or at a cheap price.

You can ask players to Check-In while they are in your shop.

Users can Check-In in on their social media apps. It will tell their friends and followers their current location. Imagine what this can potentially do with your shop. Facebook keeps tabs on the number of people who ‘check in’ in a particular spot. Also, it creates suggestions for their followers and friends. For example, you can offer a freebie in exchange for a check-in.

With permission, take a video of the players in your shop.

Have you seen various videos players put up on Facebook and Instagram? You can do the same in your shop. If you spot players taking their time catching Pokemons, ask their permission you can take a video. Sometimes Pokemon hunting makes people look ridiculous. Players must walk the distance and go to places just to get a rare Pokemon and special items. You can attract them by showing that your shop is the hub players usually hang out.

Take advantage of the Pokemon Go and the cheap advertising chances. If you need more cash to add to your working capital, do not hesitate to choose Cash Mart. While the Pokefrenzy may not last forever, these advertising tips are still ventures worth a try as this make be your chance to take your brand to the top. Get the best personal loan in Singapore only from Cash Mart to start luring your consumers today.

Do You Make Mistakes When Taking Personal Loans?

Are you Committing these Mistakes when Taking Personal Loans?

It’s common yet regretful to make mistakes when taking personal loans. Find out if you’re one of the people who fall into this trap.

People have different reasons why they apply for fast cash loans in Singapore. Unknowingly they make mistakes that may cost money and time. However, inevitable mistakes are easy to avoid. Read on to know and understand each, so you won’t make mistakes when taking personal loans like many others.

Top 13 Mistakes When Taking Personal Loans

1. Taking the First Offer

Take your time to do some research and shop around. You are the one who needs the money. So you need to shop around to avoid those who will take advantage of your needs. You might consider taking loans from a bank. But, it will take much longer since banks usually require a lot of paperwork. Instead, try a private legal moneylender that gives more choices with terms, interest and repayments.

The money lending business is a competitive market. Therefore, you will indeed find the best personal loan that will fit your need and ability to pay.

RELATED LINK: Where to Get the Best Instant Cash Loan in Singapore

2. Not Knowing the Credit Rating

You have the right to check your credit score because getting a loan considerably depends on it. So make sure that your credit score is accurate. Your lenders are the one who updates your credit history. So make sure they include the times when you repaid on time.

The credit score reflects your credit history. There are a lot of ways to keep it in good shape. These are avoiding too many loans, paying credits on time and not defaulting on a loan. With a good credit score standing, you may have your loans easily approved and get a lower interest rate.

3. Not going to Eligible Money Lending Company

There are a lot of lending companies floating on the web (see updated licensed moneylender list in Singapore), both illegal and legal. Therefore you have to be careful when choosing a licensed money lending company in Singapore. First, find out how long the company has been in the business. A tenured company means providing quality service enough to keep them in the industry.

Mistakes when taking personal loans in Singapore

Credit: https://moneyloans.com.sg/5-signs-youre-dealing-with-a-personal-loan-scammer-in-singapore/

4. Don’t Check the extra Cost

When it comes to personal loans, make sure that you add the additional fees and closing costs to the total price of what you need to pay. Look at the terms carefully and ask your licensed money lender if you don’t understand some parts.

5. Rushing through Fine Prints

There will be some terms that might add some costs if you are not careful. Avoid late payment penalties and prepayment penalties.

6. Getting Emotional

When borrowing money from a lender, think wisely and do not get carried away by your emotions. Do not get too excited. Get the loan that best fits your needs and financial status. If you borrow money to help a family member or a friend, that is not a good idea.

7. Fabricating Information

Never lie about your income and credit score. Your lender will have the means to counter check your info. You might be in deep trouble if you get caught by losing your loan and paying a large penalty.

8. Payback

Be realistic. Even though you have a steady income, you may think you can easily pay off a loan. Remember that there are still a lot of expenses, bills and needs to attend to. Budget the money well and pay your loans on time.

RELATED LINK: Best Instant Loan for Low-Income Earners in Singapore

9. Skimming the Terms and Conditions

Read the term and understand the words in them. Do not rush. Read the conditions and take note of certain specifics that might cause you to lose money and end up with bad credit.

mistakes when taking personal loans: skimming through terms and conditions

Credit: https://sg.finance.yahoo.com/news/bank-loans-vs-licensed-moneylender-050119888.html

10. Not Asking Questions

It is fine to talk to your lender about some vague terms. Ask away. It could save your time and money. Let them know your personal case because they are most likely able to offer you the best loan right for your needs. Each borrower is a unique case. If there is a problem, it is better to let your lender know. Do not be afraid when they try to contact you. They just want to help you pay off the loan the way you have agreed on.

11. Borrowing Too Much

Make sure that you borrow what you can pay off. If you cannot pay off the loan, you might end up defaulting. Once defaulted, the interest rates will dramatically increase, and you might lose your assets. Your bank accounts will be seized and might get closed.

RELATED LINK: Singapore Loan Shark Scams to Watch Out

12. Not Negotiating

Many do not negotiate with terms and just accept what the lenders present. Usually, borrowers can deal with terms to avoid being financially constrained. Therefore, you are getting a loan to help with your financial needs and not add to your debt problems.

13. Unnecessary Over Extending

Some lenders talk the borrowers into extending their loans. Do not be tempted to do so if you do not need it. In addition, it will only make your credit score look bad. Plus, you will end up paying much more than you had borrowed.

People apply for immediate money loans for various reasons.

They may be single moms who are stuck on a budget, want to pay off debt, buy a gadget, go on vacation, try the best steamboats in Singapore or pay a medical bill, but all need extra cash. It is tempting to have a lot of money. But, do not open a loan if you do not really need it. Be serious with the repayment schemes and never hide from your lender. Loans are supposed to help you not overuse them.

Why New Graduates Need to Start Working ASAP

Why New Graduates Need to Start Working ASAP

Welcome to the real world! Where news grads need to start working asap.

Students are excited to end their college days and earn that degree they have been striving for.

Well, most of us know that many fresh graduates look forward to a grand vacation regardless of what the future may bring. Is it the right time to chill after years of burning the midnight oil?

Most of them have been given the notion that getting a job will not be as hard as it used to be a decade ago if you have a degree. Is it true? After graduation, should you go on a grand vacation or look for your first job? Here are why the latter could be the right choice.

5 Reasons Why You Should Start Working ASAP

Why New Graduates Need to Start Working ASAP

Credit: https://www.forbes.com/sites/ashleystahl/2020/06/11/4-steps-every-new-college-graduates-should-take-during-covid-19/?sh=587587452c1a

A ‘better opportunity’ will come

Really?

Let’s say you have been looking for a job. You went to interviews smartly dressed, but in the end, you declined the offered positions as it did not fit your expected income. However, you are confident you’ll strike a better offer. Is there such a thing as a better opportunity?

Some millennials have a high expected salary because they think their degree deserves it. And it is not just the income. They want a job they can flaunt on social media to impress their family and friends. It is not practical at all.

Remember that you are a fresh grad. You may have a degree, but you lack experience. So it does not hurt to start at the bottom and work your way up.

And if you think it will take a longer time to get to the job you want, you can take a job at the factories or car dealerships. The pay is fair, and at the same time, you can look for a job while already earning for yourself. Being young and financially independent is something also impressive.

The long break is unattractive to employers.

How long do you plan to stay on vacation? Some employers dislike fresh graduates who took a long time to find their first jobs. So you better have a good explanation for why you did not work for longer than a year.

Longer breaks will make you seem too picky for a job or happy-go-lucky. If you are asked for your reasons, you better not say that you are still looking for a better opportunity. It will earn you a negative impression.

Start your savings

The earlier you start your work, the earlier you can start saving up in your CPF account. So what’s in it for you? CPF can help you get your home, have retirement benefits and even get education loans for your future children.

No matter how much you earn in your job, your employer is subject to providing 16% of your CPF contributions. It is still something compared to a zero amount. Imagine how much you could save up in a year.

You will have a good head start if you start working earlier than your peers. You will not only have CPF savings, but you can also learn more skills, gain experience and get more contacts. These are advantages you do not get with a degree alone.

A degree isn’t a guarantee.

A degree isn’t guaranteed that you’ll get your target job position immediately.

Yes, you earned a degree after studying for a few years. So your degree might give you an advantage in getting a job, right? But what if there are a lot of fresh graduates also eyeing the same job and they also have the same degree?

A degree may give you enough knowledge and skill to start and stay in your chosen career. But, it does not guarantee that you get your dream job easily. Also, you are not certain if you will be offered promotions by just having that degree. Why?

A degree isn’t a guarantee that you’ll get a promotion.

Most employers prioritise interpersonal skills. They will consider how you interact with your colleagues. It includes your professionalism and leadership. It will be a real advantage if you can show that you have learned new skills while on the job.

Not diving in your industry makes you obsolete.

If you do not get a job as soon as possible, you will be obsolete. You have learned theories at school, but these will change after a few years.

Take, for example, Basic Life Support. Health care providers learned that it was ABC: Airway, Breathing and Circulation. They need to check the vitals and do needed actions according to this order to revive a person. After a few years, it is now changed into the CAB: Circulation, Airway and Breathing.

The good thing about working in the industry as early as possible is that you can move forward as the industry moves on. In addition, your employer will pay for your training, and you will learn more which you can use to show that you deserve future promotions.

Vacation may seem fun, but you can’t take back the time you could have used to kick-start your career earlier than your peers. However, you have time on your hands, and you can convert it into advantages.

Do you need to start working asap due to urgent money needs? Then, head over to Cash Mart. It offers a low-interest personal loan. Also, the licensed moneylender approved an online application for zero credit borrowers. Check it out now!

Singaporean Household: Cost of a Foreign Helper

Singaporean Household: Real Cost of a Foreign Helper

A domestic helper is famous for household chores. But before hiring someone, know how much is the actual cost of a foreign helper.

Whilst Singaporeans are very hard working to provide for their families. They have very limited time for household chores: from taking care of the laundry to walking the dog every day. Thus, having a foreign domestic helper has been popular to keep the household in order.

Why are we reliant on maids?

Taking care of elders

While there are nursing homes for the elderly, many can’t afford such facilities and having a maid is way cheaper for them. Thus the government gives tax deductions to those who hire maids to care for their elderly parents. Instead of paying the monthly levy of $265, they are only required to pay $60 a month.

Long working hours

Since Singaporeans are known to have great dedication to their work, they have very little time with the household. They sometimes take home some of their work which they deal with after putting the kids in bed. Thus the work-life balance has been too much altered. There is a slight possibility of having still the energy and time to deal with vacuuming the floors and cooking.

Many don’t know how to cook.

Many Singaporeans are used to eating out because they lack practice when it comes to kitchen matters. In the Electrolux Asia Pacific Food Survey in 2014, 65% of Singaporeans admitted that they think they have limited or disastrous cooking skills. While singles can still handle eating in restaurants and fast-food chains, those with children have to resort to getting a maid.

Hiring a foreign domestic worker (FDW) is a standard solution to taking care of most house-related activities. However, you must know that the Ministry of Manpower has strict regulations for hiring FDWs.

Ministry of Manpower in Singapore | The Real Cost of a Foreign Helper

Before you start applying for a work permit for an FDW, you must know your helper’s biographic data such as name, age, nationality and other passport and personal details. MOM will also require you to identify the personal information of everyone living at your address.

MOM assesses applications strictly by income. So naturally, you can only hire a helper if you can afford it with your current income. However, there are certain exceptional circumstances.

Sponsorship is when an elderly at the age of 60 wants to hire an FDW, yet there is a lack or absence of income, and he/she has no other living adult with him/her. MOM will assess the application based on the sponsor’s (children, grandchildren or siblings) income.

Another way is through Joint Application. The employer can combine income with an immediate family member (other than the spouse) living with them at home.

Foreign domestic worker eligibility

Generally, the FWD must be a female aged 23 to 50 years old from the government-approved country. In addition, it must have a minimum of 8 years of formal education with a recognised certificate by MOM.

You may interview your potential FDW. Ask about their strengths and weaknesses. Also, test the appliances they know how to use. In addition, assess their household skills like cooking. Furthermore, know their motivation for work. See if they have children to create an understanding of her goals further. Finally, determine their level of English language. While some are good at English during the interview, many still struggle with everyday use. While interviewing, you may also be upfront about your expectations and other particular household rules.

Are you Eligible to hire an FDW?

While there are a set of eligibility requirements for FDW, employers also have theirs.

To apply for an FDW, you must be 21 years old, have never been bankrupt, and have the full mental capacity to discharge your responsibility as an employer. In addition, as a first-time employer, you are required to attend an Employer Orientation Programme (EOP) before you apply for an FDW.

The Cost of a Foreign Helper:

  • The monthly salary is about $500 or more per month. Note that the salary depends on the agreed salary multiplied by 26 days per day.

$500 x 12= $6,600

  • The monthly Maid Levy costs $265. However, remember that the levy for sponsored applications is only $60.

$265 x 12 =    $3,180

  • Maid Agency Handling Fee: S$2000/ or more as a “package” for a “new maid.”

The package costs around $1500 – $1800 for “rehire maid” or helpers who already have a record as an FDW. These costs vary depending on the agency. However, choose carefully which agency you will use. Again, try to look for feedback on the agency’s website and social media accounts.

  • First, Time Employers have to undergo an Employer Orientation Programme with an online test set costing $40
  • Settling-in Programme – $75 for first time FDW
  • Work Permit application – $30
  • Work Permit issuance – $30
  • Security deposit – $5,000
  • Medical Insurance coverage – minimum coverage of $15,000
  • Personal Accident Insurance – minimum coverage of $40,000
  • Paid Day Offs if included in the agreement. Day Offs maybe 2 to 4 days per month, and on Sundays.

Total:    $71,355

Conclusion

Hiring a new FDW will cost you $ 71,355 in the first year. However, as different employers have various agreements with their FDW concerning lodging, food and other miscellaneous expenses, these are excluded from the calculated costs.

Now you know the real cost of a foreign helper. Do you seriously need extra help in your household? Do you need more cash to start applying for one? You can start your loan application now, as Cash Mart can give you cash disbursement today. So visit the Cash Mart website and start filling up the loan application to experience the fast and smooth loan process you deserve.

5 Tips In Finding Singapore Jobs

5 Tips in Finding Singapore Jobs

Earlier this year, Mercer’s 2017 Quality of Living survey ranked Singapore as the top city to live in—thanks to its infrastructure. However, the country is also facing challenges when it comes to employment.

In fact, the Ministry of Manpower revealed that the employment growth rate in Singapore was at its slowest since 2003. Moreover, the average unemployment rate also rose to its highest of 2.1% in 2010. Thus, it is not surprising that fresh graduates face difficult times in landing full-time jobs.

They reported earlier this year that some graduates are forced to do internships or pursue further studies to broaden their employment horizons.

But why is it difficult to find a job in the city-state?

Competitive Labour Market

One of the reasons it is difficult to find a job in Singapore is the competitive labour market.

Citizens and expats are competing for a highly educated workforce. In fact, 29.1% of the country’s residents aged 25 years and over are university graduates. Add to that the fact that Singapore offers enticing work opportunities for global talents.

Are you an honour student in Information Technology? Systems Analysts currently earn SGD 5,593 per month.

Who would not want to earn that much, right?

The same thing goes for looking for a “blue-collar job” or jobs that require manual labour. Singapore is a small and economically prosperous country. Rather larger, developing countries surround it. That’s why it makes the country attractive to overseas blue-collar workers.

RELATED: The Worst, Best, and Highest Paying Jobs in Singapore

Economic Conditions

In the Q2 2017 release of MOM’s Labour Market report, resident unemployment rate and retrenchments continue to go down, although slow. According to OCBC economist Selena Ling, companies are instituting a hiring freeze and are reluctant to replace their employees who resigned.

Ministry of Manpower | Tips in Finding Singapore Jobs

On the other hand, the continuing decline in overall employment is due to decreasing numbers of Work Permit Holders in the Construction and Marine sectors.

“The decline was mainly due to a decrease in Work Permit Holders in Marine and Construction due to low oil prices and continued weakness in construction activities, respectively.”

The Singaporean government seeks to boost the construction industry in line with this. How? Bring forward SGD 700 million worth of public amenities projects for the next two years.

What does this mean for the job seeker? First, consider the tips in finding Singapore jobs in the Building and Construction Authority.

Talent Mismatch

According to Dr Walter Theseira, an economist at the Singapore Institute of Management, skills mismatch is why new graduates are having a hard time gaining permanent, full-time employment. Usually, the job seeker’s skills do not suit the client’s expectations.

The Singapore Human Resource Institute also pointed out that companies seek graduates with specialised degrees. So students who have a degree in arts or social sciences may not be highly sought after. But on the other hand, SHRI’s president, Erman Tan, advises:

“This is not to say they don’t have prospects, but they need to be able to present to employers the additional strengths or skills that they have to stand out.”

So, how can you stand out from the sea of job applicants? Follow the five tips below:

5 Tips in Finding Singapore Jobs

It is already a given that it is difficult to find a job in Singapore. But, good thing, there are practical tips that you can do to make looking for a job less painful.

Know What is in Demand

The city-state can be a host to many markets. However, some industries are stronger compared to others. As stated in MOM’s Labour Market report:

“Hiring remains cautious in sectors such as Construction and Marine, but opportunities will continue to be available in Finance & Insurance, Infocomms & Media, Healthcare, Professional Service and Wholesale Trade.”

To know if your desired job has a high employment rate, you can always check out MOM’s Administrative Records and Labour Force survey.

Search for Job Openings Online

There are tons of resources available when looking for a job. And the easiest way to do that is to access the Internet. However, it is easy to get overwhelmed searching through the job board or job search sites.

The solution? Use a job aggregator or subscribe to LinkedIn’s job opening newsletter. That way, you can check out what jobs are available in your area in one place.

Some job ads also provide an email address where you can send your resume. So, instead of collecting all the online job ads, reading them one by one, and sending your application, send your resume via email instead. It is ideal since your resume and cover letter will go straight to the recruiter’s inbox.

Create a Catchy Resume

Speaking of resumes, it is also essential to create a catchy resume. Remember, you are competing against hundreds of job applicants. Therefore, you need to find a way to stand out and catch the recruiter’s attention.

Here are some quick tips:

  1. First, keep your resume headline short and sweet.
  2. Second, personalise your resume’s format.
  3. Use formal text fonts such as Times New Roman or Arial.
  4. Finally, proofread your resume and cover letter before sending them.

RELATED: Need a Job? Here are 5 Steps to Make Catchy Resumes

Visit an Employment Agency

Although a myriad of job openings are available online, it is also a good idea to join an employment agency.

A recruitment agent can help you work on your resume, understand the industry where you want to be, and prepare you for job interviews.

The good thing is that employment agencies are available for both Singaporeans and expats. So all you need to do is conduct thorough research. Then, look for agencies with a lot of positive reviews.

Join Networking Events

Job opportunities may come in unexpectedly. If you are not having any luck on job sites or employment agencies, meeting other people might help.

Attend networking events and reach out to other professionals. Some people attending professional meetups, like Startup Grind Singapore, are looking for people who can work with them. Either they have a startup or are venturing out to other markets.

Startup Grind | Tips in Finding Singapore Jobs

If not, they may be able to introduce you to someone who needs your skills.

Your Employment is Also an Investment

To many, having a stable job means being able to provide for their family. After all, Singapore is one of the costliest cities to live in, according to the latest Worldwide Cost of Living Survey.

On a personal level, being employed gives you a sense of fulfilment because you are being productive. As a result, you can alleviate your family’s economic status. And you are also helping the economy to move forward.

Regardless if you are a new graduate or looking for greener pastures, being employed could mean enjoying a good life—especially in the future.

Guide for Expats Financial Survival in Singapore

Expat’s Best Guide to Financially Survive in Singapore

Foreigners face many challenges living in Singapore. They encounter money problems, too. Here’s the best guide for expats financial survival.

Over the years, the expatriate population in Singapore has been blooming. There can be a lot of challenges for a foreigner living in Singapore, especially with managing the finances. Here are the things you have to know as soon as you land in The Lion City of Asia.

Quick Facts on Singapore

Capital: Singapore

Population: 5.535million (World Bank, 2013)

Major language: English, Malay, Tamil, Standard Mandarin

Currency: The dollar (SGD, $ or S$)

Time zone: GMT+8 Hours

The Best Expats Financial Survival Guide 

Rental property

If your employer is not going to handle your accommodation, you have to know the types of properties you can rent. There is nothing much to fuss about if you have enough cash to give your landlord a deposit for a month or two. However, if you are tight on the budget, here are some tips.

Shop Around

Take time to shop around. Look into various internet sites, ask your friends and colleagues, go to open houses and ask agents. Give yourself at least a month to look into multiple apartments that may interest you and imagine living in the place. Then, compare the areas before creating a shortlist at the end of the month.

By giving yourself enough time, you won’t be pressured when finally deciding. Consider your lifestyle, workplace, and preferred amenities. Search on Facebook forums to know what other expats have to say about the places you are eyeing. Also, you can search on EasyRoommate. There are rooms under $1,000 offered on the site.

Know the Real Price

Knowing the right price will give you the boost of confidence needed to negotiate with landlords. But, unfortunately, it is not enough to ask people you know how much they think apartments are.  Agents are also not a hundred present reliable, and so are the classified ads.

For the most accurate prices, you can look for Singapore’s Urban Redevelopment Authority (URA) lists of leases. You won’t just see the prices. Also, you can see some information. These are the location of the apartment, the size, bedroom, accommodation capacity, and the monthly rental. Plus, you can estimate how much other tenants are paying for a similar apartment.

Urban Redevelopment Authority in Singapore

Poor Quality Listings may Mean More.

If you are looking for cheaper apartments, don’t waste time looking through more than 50,000+ advertisements for premium condos. If many people compete for one apartment since the advertisement has hooked many, it is most likely that the landlord will not give you space for negotiation.

The quantity of photos does not change the quality of an apartment. The apartment with one image may end up better than the other. Give it a chance, get in touch with the agent and ask for more photos, information and other things you think might be personally meaningful.

Use an Agent

Many Singaporeans think that using an agent is a bad idea, but if it means that you have a good negotiator and a financial adviser at your side, then it beats the downside. However, we have to admit that the agent knows more than you do unless you work in the real estate business. So let him/her do the work.

Another advantage is the agent can drive you around to apartments that you might get interested in. You can save time, money and effort going to various apartments. Be vocal and ensure the agent knows your allotted budget for an apartment.

Choose the One You Need

We have to admit that many apartments offer extravagant facilities. These are jogging tracks, pools, semi-professional gyms, and many others. Since you want to save your money, don’t fall in love with facilities you are not even going to use much.

Bank Account

There is a good chance that you already have a bank account way back home, but it is still more convenient to have a local one. Choose between POSB or DBS, OCBC and UOB. You can make bank transfers easier as their ATMs are easy to locate. In case you need to transfer money back home, ask these local banks. Confirm if you can transfer it to your bank in your country.

Credit Card

Singaporeans use credit cards sparingly, and you should, too. You are living in one of the most expensive cities on the globe. You have to make sure that your cards are paid in full and on time to keep your credit score in good shape. You can link your Singaporean bank account to your credit card. So it will be automatically paid off each month.

Foreign currency spending

To save up money, use your credit card when spending abroad. Some cards, such as the UOB Visa Signature card, give a 5-cent rebate every time you reach the minimum expenditure requirement in foreign currency.

Mobile data plan

Singapore has three telcos, SingTel being the most expensive, M1, and StarHub being the cheaper. If you stay in the country for 2 years, you can apply for a plan. However, some expats financial survival instinct is still to use a plan despite staying for less than two years. Therefore, they disregard the option even if they can transfer it to another subscriber.

If you would instead take over someone’s plan, you can search the Expats Forums. Also, find someone who is about to let go of a plan. All you need is proof of your local residence. Finally, you can get a prepaid plan if you are not into calls and your job does not require it.

Internet Service

You can choose from SingNet, M1, StarHub, MyRepublic and ViewQwest. They all provide superfast fibre-optic and broadband connections. However, if you are going to stay for less than 6 months, you may choose between MyRepublic. Or ViewQwest as they have a pay as you go plan available for expats.

viewqwest for expats financial survival

Join expat organisational groups and forums to keep yourself updated. Some expats about to return to their country may offer some of their things up for sale. Visit theExpat.com and InterNations to get the hang of living in Singapore. In addition, find other expats who can relate to your situation.

On the other hand, you don’t have to sacrifice much of your luxuries. Follow this expats financial survival guide in Singapore.

Licensed moneylender Cash Mart offers loans for foreigners. Visit Cash Mart or give them a call, and the friendly staff will be ready to assist you through the process.

6 New Startup Schemes in Singapore for 2017

6 New Startup Schemes in Singapore for 2017

All startup schemes in Singapore need funding. How much are you willing to spend on it? More importantly, do you have enough funds for it?

Moreover, how will you launch and start your company if you lack the money to turn up the gear? So funding your business is a priority.

You must be thankful that startup schemes in Singapore are available. Also, the country offers grants to aid startups with promising futures.

However, there are various new schemes and grants present. So how will you know which one applies to your upcoming venture?

The Best New Startup Schemes in Singapore

Startup SG Founder

Eligibility for startups:

  • First-time entrepreneurs who are Singaporeans and Permanent Residents
  • Must hold or propose to hold at least 30% equity
  • The company must have at least 51% of local shareholding

This grant provides mentorship and startup capital of up to $30,000 for first-time entrepreneurs. In addition, it will match $3 to every $1 raised by the entrepreneur. It means that you can raise up to $30,000. It is the maximum possible funds from this grant.

SPRING selected Accredited Mentor Partners (AMP). Its responsibility is to choose qualified applicants. However, it looks for its unique business concept, feasible business model, strong management, and potential market value.

Remember, the application will not be granted if the company receives funds from another government organisation.

If you want to apply, you must submit all the requirements. These are a duly accomplished application form, your ACRA e-statement, business plans or your management teams’ CVs.

Upon successful application, startups will receive learning programs and networking contacts. All these are in addition to their funds.

Startup SG Tech

Eligibility for startups:

  • Startup applicants are registered or incorporated in Singapore
  • The company must be an SME. In addition, you must have a Company Group annual sales turnover of less than S$100 million. Plus, it must be at least 30% local shareholdings.
  • The company must not be older than 5 years at the date of application.

The Startup SG Tech is for a startup with promising proprietary technology solutions and a scalable business model. They can give the funds from this grant at the startup’s early stage to commercialise proprietary technology.

Moreover, the grant will ask for an equity component for SPRING. It keeps the company towards a growth-oriented mindset. Plus, it cultivates greater financial discipline.

Unlike the Startup SG Founder, you may apply to Startup SG Tech even if you have already received a grant from another government organisation. It is possible if the funding is for a different project. And even if you get rejected, you can still reapply. However, you must provide that you can address the highlighted reasons for rejection.

Once approved, you will receive funds upon the completion of each milestone. It starts from the Pre-requisite milestone. First, 20% of the grant will be released to help you kick-start your project. Then, they will release the rest of the funds depending on the verified completion of milestones.

Startup SG Equity

Eligibility for startups:

  • A Singapore-based company
  • Have paid-up capital of at least $50,000
  • Incorporated for not more than 5 years
  • Can prove substantial innovative and intellectual content of service, products or application
  • Have identified a third-party

With Startup SG Equity, the government will co-invest with an independent third party investor. It is their strategy to help a startup.

Furthermore, the grant focuses on three sectors. These are Urban Solutions and Sustainability, Health and Biomedical Sciences, and Advanced Manufacturing and Engineering.

To apply for this grant, you must email them. Send your business plans and financial statements to seeds@spring.gov.sg. Also, you might have to provide additional requirements. These are Business ACRA and the background of potential third-party co-investors. But keep in mind that it is only possible if applicable.

new startup schemes in Singapore

Startup SG Accelerator

This grant does not directly fund the startups. Instead, it funds the business incubators to help create a sturdy startup.

With incubators and accelerators, they can get funds and non-financial support. It helps to nurture startups and help them have the best outcome.

The Startup SG Accelerator may cover three different types of costs:

  • Programmes to nurture startups. It can help develop new services or products and improve market access.
  • Funds to hire mentors and experts. In addition, it provides management and technical guidance for startups.
  • In addition, it can cover operating expenses. However, it is only partial, as determined by SPRING Singapore.

Startup SG Talent

The Startup SG Talent is to create a more conducive environment. Also, it focuses on better leverage for innovative startups to market globally. Under the Startup SG Talent are three schemes:

  • EntrePass is a scheme which allows foreigners to jump-start their startups in Singapore. The startup applying for EntrePass must not be older than six months. In addition, it has at least $50,000 in paid-up capital.
  • Technology for Enterprise Capability Upgrading (T-UP) funds 70% of the secondment costs. It means it can support the research of scientists and engineers. But it must have a partnership with Agency for Science, Technology and Research (A*STAR).
  • SME Talent Programme (STP) for Startups facilitates internships. It goes well between students and technology-based local startups. Those schemes foresee the startup needs for recruitment, retention and talent management through the development of human capital capabilities.

Startup SG Loan

Startup SG Loan has Government-funded loans for startups. These loans are for SMEs which need funds for equipment financing, working capital or trade financing. In addition, there are two types of loans under this scheme:

  • SME Micro Loans are for startups. It is for those who need working capital financing of up to $100,000. Also, the company must have not more than 10 employees.
  • SME Venture Loan is for high-growth companies who want to expand their business. They can get as much as $5,000,000.

However, what if you need funds for a sudden need. Can you wait for an indefinite time for the grant to be processed?

We all know time is money. If you need additional funding right now, you can get a loan from Cash Mart. Call Cash Mart today at +65 6397 4111 or visit the office in Balestier Road to know more.

How to Polish Your Resume After Being Laid Off

How to Polish Your Resume After Being Laid Off

It isn’t easy to survive without a stable what’s more, after getting laid off.  So, polish your resume to get a new job and continue earning.

Employees are not supposed to know, yet you have a gut feeling that something is up.

There are way too many meetings, some vacant jobs are not filled in, and delayed purchases from vendors. Usually, the employees don’t get a share in the business’s internal affairs. However, you should prepare for the worst.

polish your resume

Credit: https://careers.workopolis.com/advice/part-resume-matters/

Indications Why You Might Be Laid Off

You must recognise the hints if your company is about to fold and you might be laid off.

Insanely Low Product Prices

The big bosses are desperate to make sales to keep the cash flowing. So the sales department is forced to search for more prospective buyers. As a result, they secure longer contracts above all else. In addition, they keep on pushing clients for early payments. Aside from that, your employer approved the sales of products at the lowest price. Plus, they even threw in insane freebies just to make sales. An example of promos is a buy one printer and get another one absolutely free.

Cost Cuts

Supply for papers for copying machines had long dried out before being replaced by lower quality papers. As a result, your planned training for the year has been cancelled. Furthermore, vendors are not paid on time. Therefore, your salary is suddenly late.

Promotions after Layoffs

After the heartbreaking layoff, the survivors get promoted. While it is good for the resume, brace yourself for the workload fit for 10 people. Or else you are the next in line to be laid off. The company has to keep up with the productions. You have to handle jobs from different departments.

Sudden Bookkeeping Surge

Is your company suddenly interested in bookkeeping and orders everything to be on paper? Then, they are looking for a hole, if not a scapegoat. They need to see what has gone wrong, what could be the possible solution or who is to blame.

Mass Resignation of Senior Leaders

Senior leaders enjoy a high salary. Also, they are the ones who maintain the high morale of the rest of the employees. However, if they had suddenly decided to leave one after the other and the level of competence had gone down the drain, you should know that it is not because they all received better job offers simultaneously. On the contrary, they know the company will fall and are not receiving what they think they deserve.

Whispers

You might get news saying the competitors quickly got hold of the key accounts you used to cater to. Furthermore, you check the social accounts of your senior leaders. Then, you see some messages hinting that they are no longer happy in their jobs. Sometimes, the industry has been waning, too.

Selling Shares

The directors have suddenly put their shares in the markets, and the prices won’t get any lower. It has ultimately set off some alarms that they are losing hope in the company. In addition, it makes a desperate move to escape as soon as possible.

What To Do With The Indications? 

It does not hurt to prepare yourself for job-seeking with these hints.

  • Start looking for job openings online, on the competitor’s career pages and ask your friends in the same line of career.
  • Make sure that you pay your financial responsibilities as much as possible. If this may be hard for now, try to get in touch with your bank or loan providers and seek possible ways to go around it.
  • Having gained much experience, you may not know how much your salary should be. You can try checking in the PayScale Salary Survey.

Be Prepared: Polish Your Resume 

The resume is your first representative of your future employer. Here are some tips to make an outstanding resume.

  • Have a cover letter that looks professional, neat, and concise, containing your request for an interview, self-introduction, your strengths, value, and background.
  • Keep your resume brief, concise and on points.
  • Grab your potential employer’s attention with the first few lines backed up with relevant details. Make sure that the resume fits the job you are eyeing. Highlight accomplishments, skills and experience related to your target position.
  • The hiring managers won’t take too much time browsing your resume. Therefore, put the most impressive qualifications on the first page.
  • As a standard rule, limit your resume to 2 pages of A4 paper.
  • Ask two professional friends to read your resume and give some feedback.
  • Read your resume the next day before sending it to your potential employers.

    Source: Singapore Workforce Development Agency

If you need help from a licensed money lender and you haven’t found a new job yet, call Cash Mart. Cash Mart offers flexible loan solutions that fit your needs.

While you polish your resume, let Cash Mart help you bridge your personal loan needs at the lowest interest rates.

Mutual Funds: What Are They?

Mutual Funds: What Are They?

Mutual funds are thought to be synonymous with investments. But do you really know what it actually means and how it works?

Investing always gets hold of Singaporeans’ interest. People tend to value finding alternative ways to earn more and save more. Folklore of Finance research proved it when Singaporeans topped the financial literacy test. However, only 5 per cent of investing Singaporeans genuinely believed they were ready to achieve their investments goals.

According to the same research, Singaporeans often give credit only to themselves for successful investments. 66% of investors claim that their best investments are only due to their decision call. It only reflects that most investors do not value the importance of soliciting professional advice. Also, they do not value getting further education on investing. Since there is a very high level of pride, they are usually afraid to ask questions about things which seem to be common knowledge among other investors.

If you usually ride the MRT, there is a high chance you have encountered sleek looking financial advisors. They try to sell mutual funds, which seem synonymous with investments. However, most Singaporeans will not admit that mutual funds puzzle them. So, here are the basic things you must know.

mutual funds in Singapore

Credit: https://www.livemint.com/market/stock-market-news/how-to-pick-stocks-using-mutual-fund-portfolio-fact-sheets-11648016965047.html

Mutual Fund is a Portfolio

A portfolio is a collection or grouping of financial assets. It can be bonds, stocks, funds counterparts, and cash equivalents. Moreover, investors keep their own portfolios. It includes Risk Tolerance or the level of returns variability the investor is willing to withstand and the investment objectives.

Mutual funds itself is a portfolio of assets. However, unlike personal portfolios, it contains collective investments involving hundreds of people. In addition, it gives small investors access to financial assets managed by professional fund managers.

Though this involves a lot of people, each one has an equal proportion of gain or loss. They can access the portfolio and see the investment objectives, which should ideally match its prospectus. Funds have an obligation to declare information that may affect the investors’ decisions.

You can purchase the mutual fund units at the fund’s latest Net Asset Value (NAV). NAV calculation is by dividing the total value of the securities in the whole portfolio by the total number of outstanding shares. However, investors cannot just sell their units at their whims. Why? Usually, there are rules on the number of units to be sold and when they can sell these.

Active Advertisement

Why do you usually hear about mutual funds? Also, why are they aggressively advertised? There is a rave of mutual funds advertisements these days mainly because you can make lots of money with them. For example, if a fund manager is entitled to 1% of the portfolio’s assets a year, it may not seem that big. However, if the assets total $40 million a year, $400,000 will go to the fund manager.

Another reason why it seems to capture the interest of many is the usual behaviour of Singaporeans when thinking about retirement. But, of course, everyone wants to secure retirement at ease. Or even better: an early retirement with the least financial worries.

Which Mutual Funds Should You Get?

There can be various lists of top mutual funds existing on the net. However, you should be mindful of how you will choose the one to invest in. Do not just invest in the first mutual fund you encounter. It is better to research its annualised returns over a 10-year period. While a fund manager holds the mutual funds well, that person may not stay there forever. You can change the person managing the fund in a few years’ time. Thus, the performance of the assets in the market may quickly change. It is better to see its performance for ten years to give you a more realistic idea of how it will fare in the future.

Not all mutual funds will show you their comparable rate of return. Therefore, it is better to ask for its Total Expense Ratio (TER). TER is the amount of money you are paying for the management and marketing of the mutual fund. For example, if the fund returns are at 6%, yet the TER is as high as 3%, you gain 3%. Various mutual funds have different TER fees.

Mutual Funds Eligibility

The Monetary Authority of Singapore (MAS) strictly monitors Collective Investment Schemes (CIS). Therefore, check the list licensed by MAS when choosing a mutual fund. It only ensures you that your investment will be a legitimate product that is not blacklisted. However, this does not guarantee that this is a quality mutual fund that will yield high returns.

No matter how believable and promising a mutual fund, it is unregulated. So then, your investments are not secured. That’s why it will be hard to go after the responsible people. It is better to talk with a financial advisor to assure diversification. Some investors buy the same assets just. Why? They don’t research well as some shares go in different names, yet from the same company.

Reselling Mutual Funds

Reselling mutual funds may have specific guidelines. So to avoid incurring penalties, check the mutual fund regulations concerning to whom can you sell specific units. While mutual funds can be an excellent investment to save up for the future, they may also damage your finances if you are not careful. If you do not understand the product, it is best not to buy it.

Do not miss the chance to strike a great deal on investments if you find an opportunity to strike a great deal. Get a personal loan from Cash Mart.