[27 March 2009]
SMU launches new Business Advisors Programme
SMEs can now tap into the expertise of experienced PMETs as Business Advisors, to work on short-term projects to build capabilities for growth
Singapore, 27 March 2009 (Friday) – The Singapore Management University (SMU) launched today a new Business Advisors Programme where experienced PMETs (Professionals, Managers, Executives and Technicians) who are currently unemployed will be matched with SMEs (Small and Medium Enterprises) for a full-time project-based attachment of six months. PMETs selected for this programme will be appointed Business Advisors to the SMEs to carry out short-term project advisory work.
PMETs interested to come onboard this programme should have accumulated a minimum of five years' experience working in industries such as (but not limited to) finance, technology, engineering, branding, management consultancy, retail, shipping, logistics, fast moving consumer goods and healthcare. More importantly, they are required to bring to the table the right domain expertise and skills set while demonstrating the right attitude and passion to help grow the SME sector.
SMEs seeking help in implementing a new project, initiative or business idea can apply for a Business Advisor under this programme. PMET candidates who meet the qualifying criteria will be shortlisted, interviewed and attached to SMEs of the best fit through a matching process.
PMETs who have been successfully matched with SMEs will be required to attend a two-day induction programme before they take up their appointments as Business Advisors. Designed and developed by SMU's Office of Executive Education and conducted on SMU campus, the transitioning workshop will help them understand the unique nature of SMEs' business culture, networks, leadership and management style. Please see Annex for details. The first run of the workshop will take place in May 2009.
SPRING Singapore sees in this a great opportunity for SMEs to engage experienced PMETs to help them grow their topline, improve profitability and productivity through this downturn. The agency will fund 70% of the $5,000 monthly project advisory fees while SMEs will cover the remaining 30%. The programme aims to achieve 60 projects in SMEs.
PMETs and SMEs who qualify can register their interest with the UOB-SMU Entrepreneurship Alliance Centre at SMU. The Alliance Centre is a first-of-its-kind collaboration between UOB and SMU to help grow and develop the local SME sector. Its principal initiative – the SME Consulting Programme – finances business projects mandated by local enterprises, undertaken by SMU students and supervised by SMU faculty and experienced business advisors from the industry. Leveraging on its wide network of local enterprises and business mentors, the Alliance Centre will serve as the interface to shortlist, select and match PMETs to SMEs. Contact details at the Alliance Centre are as follows: Tel: 68280954 / 68280622; Email: ea [at] smu.edu.sg; or URL: www.smu.edu.sg/usea
Said Associate Professor Annie Koh, Dean of Executive and Professional Education, SMU: “While there are many schemes and conversion programmes to help blue collar workers, fresh graduates and PMETs transition into specific industry types, more can be done for a group of experienced and well qualified PMETs from finance, technology, IT and other sectors. The Business Advisors Programme is one of the more meaningful contributions to corporate social responsibility by SMU. SMEs which do not have the financial means to engage business advisors can now do so with government funding support while jobs are created for retrenched or unemployed PMETs with a wealth of expertise to contribute.”
Said Mr Ang Ser Keng, Director of the UOB-SMU Entrepreneurship Alliance Centre: “The UOB-SMU Entrepreneurship Alliance Centre works closely with many leaders within the local SME network through the SME Consulting Programme and has established a good understanding of their business needs. The SMU Business Advisors Programme is an extension of what the Alliance Centre can do to help our local enterprises grow their business and improve profitability – by bringing in experienced PMETs as management talent for short-term assignments with SMEs.”
About the UOB-SMU Entrepreneurship Alliance
Established in 2005, the UOB-SMU Entrepreneurship Alliance is a unique collaboration between UOB, SMU and some 200 SMEs, to promote the growth and development of the SME sector and enhance the learning experience of SMU undergraduates in enterprise management and local enterprise consulting. The Alliance Centre's principal initiative – the SME Consulting Programme – finances business projects mandated by local enterprises, undertaken by SMU students and supervised by SMU faculty or affiliates who run their own consultancy businesses. It is a first-of-its-kind tripartite collaboration where a leading regional bank lends financial commitment, a world-class university makes available student and faculty resources, and successful local businesses provide sponsorship and entrepreneurial experience to nurture and develop the local business community. A total of 58 consulting projects funded under this programme have been undertaken by SMU undergraduates. Business projects cover largely marketing consultancy and research, business strategy and planning, and human resource studies. Each project team is usually made up of three SMU undergraduates. Qualifying SMEs can benefit from 70% to 90% subsidy of the total consultancy cost.