iAdvisory Clinic: Driving Growth through Financial Services Innovation
Many profitable small businesses do not have adequate working capital to meet the needs of their growing business. There are a number of reasons for this, including delays in payment by customers, and these often result in financial difficulties. Thus, it might cause businesses to resort to a one-time loan which may be very costly.
This can be avoided if small businesses look for sustainable long term financing from alternative facilities at competitive rates. This issue might be aggravated if small businesses have their working capital tied down by large unpaid receivables as they do not have a systematic collection system.
Many are also keen on exporting but are concerned about the risks in sales on open account terms.
Small businesses should find out how alternative financing can:
- Assist them to expand their business
- Provide them with continuous back up fund
- Help them focus on sales and production by outsourcing their collection and receivable function
- Help them expand their sales overseas at minimum risks.
Content Coverage:
- The importance of having a backup fund
– Companies need to be aware that a profitable company may fail due to lack of working capital at critical time
- Alternative sources of financing
– Short term financing
- Money lenders
- Invoice by invoice financing
– Medium to long term financing
- Factoring
- Receivable financing
- Examples of how small businesses grew into listed companies through use of alternative financing
- Small business needs more than financing
– Small business do not have the resources to do the following:
- Collection
- Receivable management
- Export competitively on open account
– How to compete with the other Asian exporters on open account sales
– How to sell to more than 200 countries with:
- With 100% bad debt protection
- Collection
- Immediate cash advance
iAdvisory Clinic: Driving growth through financial services innovation
Date: 27 March 2014 (Thursday)
Time: 2.30pm to 5.30pm
Venue:
230 Victoria Street #10-00 Bugis Junction Office Tower Singapore 188024
IE Singapore, Little Red Dot Seminar Room
Price: $40 Nett (Payment Via Credit Card ONLY)
2pm | Registration |
2.30pm | The Importance of backup fund and alternative sources of financing Mr Lee Kheng Leong, Managing Director, Bibby Financial Services |
3.15pm | Tea Break |
3.45pm | How IE Singapore could assist you in your internationalisation journey IE Singapore |
4.10pm | How alternative financing can help small company to compete with their Asian competitors in oversea market Mr Lee Kheng Leong, Managing Director, Bibby Financial Services |
5pm | Questions and Answer |
5.30pm | End |
About the speaker:
Kheng Leong has been involved in SME financing for 36 years and has helped many SMEs, especially the smaller ones, to grow big. He started off in a local finance company which was primarily involved in providing financing to SME. In 2001 he moved to a local bank which provides factoring to both SMEs and large corporates.
In 2012, Kheng Leong joined Bibby Financial Services (Singapore) Pte, a subsidiary of Bibby Financial Services (BFS) of UK .
Kheng Leong who is a BBA graduate from NUS, acquired factoring knowhow from established factoring companies in the US and UK. He was also a member of the Factors Chain International (FCI) marketing committee from 1988-1992 and a member of the FCI Education committee from 2005-2009, the world’s largest international factoring organization
