Singapore (IMCS), who will be announcing an initiative to offer pro bono diagnostic consultancy services to businesses in Singapore that are facing distress during these times of economic uncertainty. Seen here are Prof Cheng Swee Teo (left), President of IMCS, and Suhaimi Salleh (far left), Chairman of the Task Force (and Immediate Past President). --ST PHOTO: NURIA LING
FREE advice is at hand for embattled local firms needing advice on how to cope with the economic downturn.
As the recession starts to take a heavy toll on smaller businesses, the Institute of Management Consultants - Singapore (IMCS) is offering advice sessions by management consultants at no charge.
The IMCS is a non-profit, professional body for management consultants.
Firms which believe they need such help are encouraged to call the IMCS hotline at 6372-1728 to give a brief background summary of the problems they are facing.
An IMCS consultant specialising in that area would meet them at the IMCS office in Horne Road for a free, one-hour diagnostic session to offer possible solutions.
IMCS president, Professor Teo Cheng Swee highlighted one of the main problems faced by small and medium sized enterprises (SMEs) - getting a loan.
'Sometimes, the businesses may have a very good package but they do not know how to present it to the bank. As a result, the bank sees it in a more negative light as compared to the real situation,'' he said.
Mr Suhaimi Salleh, the IMCS immediate past president and chairman of a task force set up to offer the free consultancy services, outlined other assistance.
'Besides finance, right now a lot of companies are facing excess manpower. And they might not know how to go about redeploying their staff and not resort to retrenchment,' he said.
More than 30 consultants have volunteered to take part in the initiative. On average, a one-hour diagnostic consultancy service can cost $200 to $500, depending on the seniority of the consultant.
