Misleading 'consultants' put firms seeking help in a spin

Misleading 'consultants' put firms seeking help in a spin

SINGAPORE - A new mini industry has sprung up: A plethora of consultants offering to help businesses take advantage of official schemes aimed at lifting productivity. But not all of them necessarily have the best of intentions.

On Wednesday, enterprise agency Spring Singapore warned of two websites which, it said, could mislead people into thinking they can apply for the Innovation & Capability Voucher (ICV) through those websites.

The scope of the ICV scheme - one of several aimed at lifting productivity - was expanded in this year's Budget to encourage more firms to take it up, although some have said this may raise the risk of the scheme being exploited.

Spring's corporate communications director Chin Sau Ho said the agency has encountered several such sites which attempted to associate themselves "in varying degrees" with Spring or its programmes.

An exact number of such sites was not available. "We wrote to some of them to seek clarification and voice our concerns, and they have since removed the inappropriate portions," said Mr Chin in a statement. He added that Spring has been monitoring the situation carefully.

Small and medium-sized enterprises (SMEs) The Straits Times spoke to appeared to have similar concerns. Food manufacturing company Hock Lian Huat managing director William Tan said his friends who owned SMEs had received spam mail from some operators.

And he had seen a Facebook page purporting to be from an SME Centre - facilities islandwide supported by the Government to offer advice to SMEs.

"I've warned my friends... Such misleading tactics will adversely affect SMEs that really need help," he added.

An SME boss in the education industry, who wanted to be known only as Mr Lim, said: "Those who are less savvy among us, like the more senior SME owners in traditional businesses, can easily fall prey."

Spring has a list of pre-approved participating service providers for the ICV, although consultants not listed can still dispense advice on the scheme.

Mr Wee Chin Chuan, who is executive director at one such participating service provider, Oriel Management Consulting, said:

"Such brokers are not well-equipped with government grant information and objectives. Many unknowingly misrepresent the information to SMEs. This creates confusion in the market."

Mr Gary Loh, director at business advisers PurpleClay Consulting, said the few "rotten apples" in the industry are likely newer players trying to earn a quick buck or undercut the competition.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.