The Business Advisors Programme (BAP) matches Business Advisors (BAs) as qualified professionals to SME projects. BAP enables SMEs to draw from the BAs’ experience, expertise and business contacts, to improve their businesses and processes. During its pilot run in 2009/2010, SPRING partnered SMU and NUS and close to 150 projects successfully completed by BAs.
A BA, who was a former CFO of a regional bank, helped a SME put together a financial dashboard to improve financial and risk management capabilities. Another SME tapped onto a BA's extensive experience as a HR director in a MNC to improve its understanding of recruitment and retention strategies of the key staff and plugged gaps in the HR compensation and performance management processes.
As of May 2011, Singapore Institute of Management (SIM) has been appointed by SPRING Singapore to administer the BAP. The advisory projects typically last up to six months with specific deliverables, and the BAs fees are co-funded between the SME and SPRING Singapore.
Under BAP, each SME can benefit from a maximum of two projects. For each project, SMEs are allowed one switch of BA subject to SIM’s discretion and approval. Each BA can undertake up to a maximum of two projects concurrently.
- Fulfil SME criteria*
- Demonstrate that company is recruiting above existing baseline and undertake not to displace existing staff by taking on the BAs
- No engaging of family members and related kins as BAs
- Offer meaningful and professional assignment scope as determined by SIM
- Ability to follow-up with the BAs on the project outcome/implementation
- Ability to co-fund 30% of the full project fee and 3% administration fee upfront to SIM
The SME criteria consists the following :
- Registered and operating in Singapore
- Have minimum 30% local shareholding
- Have group annual sales turnover of not more than S$100million, or group employment of not more than 200 employees
- At least 5 years of working experience in management position relevant to the project area required
- Free agents seeking short term assignments - should be retired, semi-retired, executives between jobs or independent experts. Practising Consultants, including owners and partners of consultancy businesses are not eligible to participate as BAs in BAP
Please refer to bap1.sim.edu.sg
for more information and registration.