09 October 2006

Busy SME business owners need not struggle to find time to travel out of their working areas to get a check on their business health. A new mobile clinic is bringing credit advisory services to them. .

Singapore, 6 October 2006 You've heard of the mammogram bus, but have you gotten wind of a similar clinic-on-wheels that offers free business-health screening for SMEs?

That's the idea behind the "KiM BizFlow: BizHealth On-the-Go" campaign, which deploys a 40-seater bus to key industrial areas - where there are huge concentrations of small-and-medium sized business owners - from this Monday, October 9th. The custom-fitted bus - complete with laptops, desks, chairs, service counters and credit specialists - will move around six industrial estates in Singapore to offer free "checkups" for tenants in these areas.

The credit advisory team will assist SMEs to help plan and design the appropriate amount of funds and mix of financing options suited to their businesses, and draw up an action plan to enhance their chances of securing bank financing, government-assisted grants and private equity / venture capital funding.

Using a proprietary artificial intelligent system called KiM Finalysis, business owners are able to instantaneously understand the financial and risk profile of their businesses, identify areas that require immediate attention, and focus on measures that could help them increase their rates of funding success. Additionally, the credit team utilises a mindmapping approach to integrate the business owners' financial and business objectives. Within an hour or so, the team will provide a preliminary set of recommendations based on the firms' current and future business position, together with a complimentary set of strategic reports for the business owners' follow-up actions.

This unique service is provided by Dun and Bradstreet (D&B) Singapore Pte Ltd (previously Infocredit D&B Singapore), the Republic's leading provider of business information and insight, and Evolve Maximus (EM) Pte Ltd, a local provider of credit advisory and research services. The programme is supported by the Association of Small and Medium Enterprises (ASME).

Mr William Lim, Executive Director of D&B Singapore, says: "Financing the growth of their business is one of the most important issues facing SMEs especially those who are looking to expand. While the financing environment has improved tremendously, we have noticed that SMEs here are still uncertain about the schemes available and what purposes they are tailored for. SMEs also tend to overlook their needs until it is too late. SMEs make up a large proportion of our customer base through our credit risk information services, and projects such as the SME Credit Bureau and the Singapore Business Toolkit. Hence, we decided to work with the various industrial landlords to get the necessary approvals to reach out to SMEs in these areas. The mobile clinic is a much easier option for business owners who have plans to grow their businesses but who may not have the time to look for help as it encourages them to get their "problems" looked at in a comfortable and convenient environment."

Mr M Nazri, Head of the Credit Advisory Unit jointly managed by D&B Singapore and EM, added that the organisers were galvanised into action despite recent feedback pointing that funding issues were no longer the top concerns of SMEs. "SMEs need to look at financing activities beyond getting the desired amounts to fund their growth plans. Some of the value-added services they can expect at the mobile clinic include assessing their balance sheet structure by looking at (i) the duration mix between long-term and short-term liabilities; (ii) concentration risk of funding sources; (iii) cost of capital; and (iv) adequacy of their balance sheet to withstand various stress scenarios. These proactive measures, if implemented and rigorously monitored through a mentor-based approach, will ensure that the firms' bottomline are robust."

He adds: "We believe that the key issue now is not just about how much funds should be made available to SMEs or whether there are those who are still languishing over the lack of funds - rather, it is about determining whether the funds that they seek will increase their risk-adjusted returns. While funds are being used to stimulate growth, it can also be a double-edged sword if not managed properly. SMEs need a more conscientious approach towards managing the optimal balance between debt and equity to generate adequate shareholder returns, and this service can help fill that need."

Mr Gary Law, Executive Director of ASME, says: "Progressive and proper financial planning is crucial to all businesses, especially for SMEs. Today, we are proud to be part of this new initiative. While doctors encourage regular health checks, our financial experts have long emphasised the importance of keeping the financial health of all businesses in tabs. With the introduction of this new mobile advisory, financial advice and assistance are now available with added convenience. I believe that our local business owners will benefit from this new initiative and we strongly encourage them to make full use of this opportunity to give their businesses a financial health check and to engage in proper financial planning, if not already in place."

The bus will hit the road starting from Monday and will bring free credit advice to SMEs through to Friday. It will be parked at the following industrial estates to enable tenants to access the service. Industrialists who wish to have their businesses "screened" need to take note of the following dates:

Day	Time	Venue
Monday, Oct 9	9 am - 5 pm	Ubi Tech Park, Lobby A
Tuesday, Oct 10	9 am - 5 pm	Shun Li Industrial Park
Wednesday, Oct 11	9 am - 12 pm	iHub
	1 pm - 5 pm	Phase Z.Ro Technopreneur
Thursday, Oct 12	9 am - 5 pm	Enterprise Centre
Friday, Oct 13	9 am - 5 pm	TechPoint

The screenings are targeted at business owners. To make an appointment, they can call D&B Singapore at 6565 6161 or email mcm@dnb.com.sg. Places are on a first-come-first-served basis. Business owners who go for the financial health checks will get a complimentary D&B credit ratings report and an ASME membership worth S$525.

The clinic is also made possible by the sponsors, DBS Bank and SingTel.

Says Mr Edwin Khoo, Managing Director and Head of Enterprise Banking, DBS Bank: "To further strengthen our SME banking franchise, we are partnering D&B in BizHealth On-The-Go as a refreshing new way of reaching out to this segment of the SME community. BizHealth On-The-Go also provides a timely platform for us to reinforce DBS' current brand positioning campaign."

Says Mr Wong Soon Nam, SingTel's Vice President of Business Marketing: "SingTel is pleased to partner D&B in this novel initiative to reach out to the SMEs. By bringing our services right to their doorstep via this mobile bus, we hope to help SMEs better understand our solutions, and how these services can help increase their business efficiency. We have also recently launched the BizWeb SmartOffice solution for SMEs. This robust and low-cost web communication service comes with free unlimited broadband access and will empower our customers to achieve better productivity and closer customer interaction."

Already, more than 40 companies have pre-registered for the clinic and the organisers expect to perform about 100 financial health checks at the industrial estates.

Dr. Giorgio Ferrari, Managing Director of Giorgio Ferrari Pte Ltd, a wine merchant that operates at Ubi Tech Park, says: "In our company, we believe in regular health check-ups of our business and do not go to the doctor when we are already 'sick'. In this way we can focus more on our business growth while we leave the doctor (D&B Credit Advisory) to keep in check our cash-flow pressure."