How Local Enterprise Technical Assistance Scheme (LETAS) Can Help Your Business?

Local Enterprise Technical Assistance Scheme (LETAS)

Have you heard of LETAS?

Basically it is a grant given to Singapore Businesses to to hire external experts to improve their management and operations.  So what type of management and operations LETAS actually covers.

In every success stories of a business, a proven system is seldom missed out in their journey to victory.  A system can includes business process system, operational system, marketing system, leads generation system, client management system, after sale process system and the list go on.

With the help of technology, these systems can be easily pre-program into a software, website or platform. Businesses who implement various systems in their business models usually are more systematic and efficient, they will face less problems and reduce unnecessary workloads to all departments.

In this information age, a business without a system is most probably enroute to failure, a company with simple system implemented will probably get a better cutting edge but is it enough. If you want your business to accelerate further in the shortest possible time, reducing overheads at the same time, technology is your solution.

Converting and improving existing system using technology has been proven to bring your business to the next level. Having automated system to generate reports, quotation, documentation, etc can saves you lots of time and money in manpower.

Having a website that can helps you increase leads generation, sale conversion and even closing sale immediately online can boost your company revenue overnight. Data processing, payroll, documentation and other operation task can be pre-program into a computerised software to enhance your day-to-day administrative works.

Knowing all the benefit, why most company still fear to implement, review or change existing system.  Most business owner procrastinate to implement new technology into their business because of the high costs of implementation.

After talking to many business owners, I realise that people have not realise that as technology advances and increasing in competition in the market, the cost of IT implementation are not longer as skyrocketing as few years back. With great competition in the market and even with schooling kids who sometimes can build online portal much better than an adult designer, cost of implementation has reduced tremendously over the years.

Another reason why business owners refuse to upgrade is lack of knowledge. Many have heard, listen or even have bad past experiences about how technology fail and the trouble of implementation and maintaining.  To be fair, both human and technology might fail in anyway or any chance. We can choose to only see the negative side of the story but numbers can never lies.

If you do research, all successful businesses from small-sized to MNCs, spend lots of money into technology to improve their business. If these technologies do not help in increase profit and efficiency, why are these companies still spending money. Looking at the other side, most companies which are always struggling to breakthrough, most likely are not making use of technology or using it the wrong way.

What I am trying to say, technology can only bring lots of benefits to your businesses in many ways. Things you can control are doing it the right ways, with the right consultancy firm and trusted software development partner.  Talk to a consultancy firm now and you might realise the cost of implementing nowadays is actually very minimum considering the vast number of benefits it will bring to your company.

Good news, Singapore government are always looking for ways in assisting local companies to expand further and they see the important of technology and how it can speed up the growth of economic. They understand the difficulties of new start-up and SMEs companies during their early phases of business and therefore started the Local Enterprise Technical Assistance Scheme (LETAS) to reduce the financial burden.

With the Local Enterprise Technical Assistance Scheme, company can get a grant to engage an external consultant to implement quality management and IT systems. Project examples include upgrading computer systems, implementing of software, e-commence, CRM, CMS, portal and automated solutions etc.

You can apply for the Local Enterprise Technical Assistance Scheme if your company meets these criteria:

• registered or incorporated in Singapore
• at least 30% of your shareholding is local
• your company’s group fixed assets are worth below $15 million*
• you have not more than 200 employees (for companies in the services sector)*

LETAS subsidises up to 50% of the costs of hiring the consultant^#. The funding support for IT projects does not cover hardware and software costs. Funding support for Quality Management system projects does not cover certification fees.

For more information about how LETAS can assist you in your business, feel free to contact Intrillion Consultant at sales@intrillion.com.sg

Filed Under: Business Grants • Featured • Web Design Grant