Financial Management and Planning involve bringing the future into the present so that you can do something about it now.
Many businesses begin with a primary goal of maximising profits. To reduce business expenses while maintaining growth, business owners and management often limit the Accounting and Finance function, which is commonly perceived as a non-value-adding cost centre. The conventional view of Accounting and Finance primarily as a bookkeeping and financial reporting function remains prevalent among many small and medium enterprises (SMEs).
However, amidst fierce competition on both local and international fronts, Financial Management is increasingly crucial for handling cash flow, budgeting expenses, strategising for growth, and navigating global expansion. Senior decision-makers must undergo a mindset shift to recognise Accounting and Finance as more than just traditional bookkeeping duties.
Singapore Businesses that fulfill Enterprise Singapore’s criteria can use the Enterprise Development Grant (EDG) to optimise your company’s financial performance and equip your management team with better skills to steward your company’s assets and resources more effectively.