Government Grant for Businesses with Accounting Software

The government of Singapore has said that it is going to provide grants to businesses who may find it necessary to seek help in beefing up their investments. One of the requirements necessary for the provision of such grants is that the business should be employing an accounting software. The said step is considered to be very good news for smaller businesses who are seeking for more capital in order to operate or to grow.  The gesture has opened the doors also to new entrepreneurs who are still in the process of establishing their own businesses but who may not have the financial capacity to start operations.

Aside from the necessity of an accounting software, an applicant for the grant should be a business that is registered or operated in the country.  The said business should have a local equity of at least 30 percent.  There are some requirements that basically qualify the size and the profitability of the company as well.  The business should have an annual sales turnover of not more than 100 Singaporean dollars and it should not have more than 200 employees.  Apparently, this is to make sure that those provided with the grant are those that really need additional capitalization.  The grant would be given as long as final approval is made by the government.

According to one government official, the need for an accounting software is based on the requirement that the business should be run efficiently and effectively, especially in the financial concerns. Without such a software, the business may encounter serious issues concerning its financial management.  The official added that there are already some businesses who may have all the requirements met except that of having an accounting software.  Because of this lack, the said businesses have failed to manage well its finances and ended up wasting the grant given to them by the government.

It is very important for the company awarded with the grant to succeed in financial management.  Its business credibility is based on this.  If a company does not do well in this regard, it may no longer appear credible enough from the perspective of the clients. On the part of the government, the said company may no longer be deserving of help or grants. Financial management would not be much of a problem with the use of an accounting software. With its use a requirement though, government sees to it that whatever grant is given to businesses is not wasted. Companies like One Stop Accounting provide solutions when it comes to meeting the needs for an accounting software.

About One Stop Accounting

One Stop Accounting is a company based in Singapore that specializes in providing businesses with software solutions for financial management.  The company has long been recognized as a valuable resource for different brands of accounting software.  Described as a premium accounting software developer, One Stop Accounting also has the capability of providing clients with customized software to come with solutions that best suit the actual conditions of the business. Its website is http://www.onestopaccounting.com.