Singapore’s EntrePass is designed to facilitate the entry and stay of foreign individuals in Singapore to directly manage their entrepreneurial venture in Singapore. The EntrePass allows successful applicants’ families to live in Singapore. Dependant passes granted to the immediate family members allow them to live work and study in Singapore. The successful outcome of EntrePass application depends largely on the 10 page business plan which must accompany other supporting documents while submitting the application. Therefore it is imperative to draft a concise yet credible business plan.

The Standards, Productivity and Innovation Board (SPRING) of Singapore assess the Business Plan to determine the viability of the proposed venture. Therefore it is important to understand the key aspects that need to be effectively addressed in the plan in order to be successful.

SPRING as the nation’s enterprise development agency for growing innovative companies and fostering a competitive SME sector reviews every proposal for its commercial viability. Therefore it is important to illustrate that there exists an inherent or potential need for the product or Service which your business intends to promote. The evaluation of the market must be realistic and the management must demonstrate a well though out Plan of Action and an ability to tap the opportunity.

The business idea should not be mundane it must justify the need for the applicant to be personally present in the country to manage the business. One of the undercurrent objectives of the EntrePass is to foster innovation irrespective of nationality of the promoter. Singapore as an enterprise hub welcomes and nurtures innovative ideas so that they can be successfully commercialized. Therefore, a business that involves the application of innovative technology or complements any existing technical innovation, or contributes to the growth of innovations stands a better chance of approval.

How to draft Singapore EntrePass Business Plan. The plan must clearly demonstrate a sense of undivided commitment to grow the business. This means that a long term visionary approach needs to be adapted in assessing the market of its impending risks, competition and allied opportunities for growth. The plan must comprehensively enlist the milestones that the business intends to accomplish in a short term and in the long term.

The Plan must also express the significance of locating the business in Singapore. The logic for choosing Singapore to conduct the business should be convincing. Singapore as an Island state is a small market, but has immense potential to serve as a base for the regional markets, therefore if the business is also regionally relevant, the government will be enthused to support a venture with expansion prospects.

Last but not the least the inherent economic benefits that the proposed venture can bring to the country are of utmost importance. The plan should reveal how it is likely to create more employment opportunities, bring synergies to the existing enterprises by drawing intellectual and financial investments, create or fulfill a demand in the enterprise ecosystem, add to and amplify the vibrancy of the business or even cultural environment, magnify the spirit of learning, innovation and service.

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Exploring mid career switch and Upgrading your skills through professional conversion programmes

In the present economic crisis there are many people who have lost their jobs and many more in search of a better career. There have been several adverse effects of the economic crisis in the job sector. This phenomenon has been felt highly by the people of Singapore too. According to the Ministry of Manpower in Singapore, the economy of Singapore has suffered some heavy losses. For this reason there might be instances of more job cuts and unemployment in the year 2009. The Ministry of Trade and Industry has also reiterated the fact that the GDP growth for the fiscal year 2009 is lagging behind by 2% to 1%. The crisis has hit every sector including the tourism sector which is one of the most profitable sectors in Singapore. Professional, Managers and Technicians (PMETs) are now planning for mid-career switch with the help of Graduate conversion program such as Executive Master Programs and Postgraduate Diploma programs.

Singapore being the hub for professional courses, there are many professional conversion programs and SPURs oriented for the professionals. There are large numbers of PMETs employed in the labor force of Singapore. As these people draw high salaries so the government feels that they might face the crux of the financial crisis. Though there are many PMETs who have the skills to cope up with the changing job scenario there are professional conversion programs (PMP) and SPURs courses which assist in job search and training.

There are many government and non-governmental agencies that have come up with professional conversion programs (PMP) and SPURs courses. The courses mainly focus on enabling the PMETs to grab the job opportunities and thus make a wise career switch. The Workforce Development Agencies in association with the economic agencies in Singapore are trying to introduce professional conversion programs especially designed keeping in mind the requirements of different sectors. There are many programs that have been launched in the last few months for pre-school education, pharmaceutical manufacturing, health care and workplace safety. There are many SPURs (Skills Program for Upgrading and Resilience) that have been planed keeping in mind the needs of Digital animation artists and stage managers. These programs are direct initiatives by the government and the Universities in Singapore. There are other private organizations that are creating innovative programs for the overall development of the professionals.

The professional conversion programs (PMP) and SPURs include creating workshops, skills achievement tests, acquiring some key computer skills (including learning the new software and upgrades in the computer world). There are some organizations that also offer stipend to the students. The students also get the opportunities to work as apprentice in some of the top companies. Master Programs in Singapore can be taken up while you are pursuing a job too. The Singapore MBA School will make sure that you get a payroll leave from your job during the course.

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