The Coronavirus (COVID-19) outbreak has been very much in the news, and apart from its impact on public health, is also drastically affecting the global economy. While COVID-19’s effects on business finance and investment are not nearly as high a priority as that of people’s well-being and health, it is still important for both business owners and investors to learn, and grow from these challenges.
SeedIn remains committed in helping good SMEs
SeedIn understands that business owners are deeply worried about the situation and its impact on their businesses, their employees, and the ability to provide for their families and loved ones. We said from the very start that as part of our mission, we would support our local SMEs, and we meant it.
“We at SeedIn, want to play our part in our commitment to supporting our local SMEs. For most SMEs, cash flow is essential to them sustaining their business during challenging times like this. We strongly believe that our continued support can help reduce business disruption and lighten the pressure caused by the COVID-19 outbreak.”
The need for Singaporeans to support local SMEs
SMEs make up 99% of enterprises in Singapore, and contribute to 65% of Singapore’s employment. Without them, we simply would not be where we are today.
In fact, many of our local SMEs are actually good, profitable businesses with solid track records & business models. They may require additional funds, just to tide them through this unprecedented period, until business normalcy resumes.
As Singaporeans, we should all do our part to help one another, and that includes lending a helping hand to many of our homegrown SMEs, brands that make us Singaporeans proud of our little red dot.
SeedIn’s part to play in bridging the financing gap for SMEs
We all want to see our favourite local establishments survive so that we can patronise them when it’s safe to be back out in the world. At this moment, it seems entirely possible that many businesses will have to close their doors over the next several weeks. These closures could be temporary and in some cases, might even turn out to be permanent. Because unlike major corporations, many smaller local businesses generally don’t have the cash reserves to sustain themselves during these times.
Sadly, we will inevitably see many of our good local establishments close their doors permanently, just because they were unable upkeep their businesses during this time span.
This is where SeedIn and the local community can make a difference. The entire concept about crowdfunding is to give people the power to decide what truly matters to them, and to fund what matters most to them. In the past, this power was held exclusively only by banking institutions. In other words, we have the power to decide which entities get to “live on”, post COVID-19.
The truth is, we are all in this together, and there is no better time than now for us Singaporeans, to come together as one community to rally around our good local SMEs.
SeedIn will continue to monitor the current COVID-19 situation closely, and remains committed to helping our local businesses tide through challenging times like this, whilst at the same time, safeguard our investors’ interests effectively by managing the risks to our portfolio.
If you have any questions in mind, please do not hesitate to drop us a message via Live Chat or contact us via email at [email protected]
We wish you and your loved ones good health and safety.