FAQ
About Emerging Enterprise
1. How many winners will there be and what can each winner receive?
A: Up to 3 winners will receive S$360,000 worth of cash (interest free loan), grants, educational and consulting packages.
S$150,000 Interest-free loan from OCBC Bank
S$150,000 grant from SPRING Singapore
S$ 30,000 worth of educational package from NUS Extension
S$ 30,000 worth of consulting package from RSM Chio Lim
2. Is there any participating fee?
A: Participation is free.
3. Where do I send my entry?
A: Please submit your application form to:
Emerging Enterprise 2009
RSM Chio Lim LLP
8 Wilkie Road
#03-08 Wilkie Edge
Singapore 228095
4. Are application forms kept confidential?
A: Yes. The information on the application forms will be reviewed by RSM Chio Lim for the purpose of short-listing the finalists (in connection with the administration of the award), the sponsors (non-financial information), and the judges.
5. When is the closing date of the application?
A: The closing date of the application is on 31 March 2009.
6. How will I know if I have been shortlisted ?
A: All 10 shortlisted participants will be notified by phone and mail
7. If I am shortlisted, what will I be required to do?
A: All 10 shortlisted participants will proceed to round 2 which is a 30-minute face to face interview and presentation of the business plan with the judges.
8. How are the companies short-listed?
A: RSM Chio Lim will short-list the candidates based on the entrepreneurs’ written business plan and evaluate the candidates based on the judging criteria. The short-listed candidates will be invited to make a presentation to the panel of judges. Following the round of interview, the judges will then select the winners
9. How many candidates would be short-listed and how many winners will be selected?
A: 10 candidates would be short-listed and there will be up to 3 winners.
10. What if I do not have audited accounts?
A: If the accounts are not audited, the company has to submit two years of most recent management accounts. Figures for each year of submission must comprise a full set of 12-month operations.
11. Are financial projections taken into account when short-listing the candidates?
A: Financial projection will be taken into consideration. It will be judged based on the entrepreneur’s justification on how he/she is going to achieve the plans and if the projections are achievable
12. Do I have to submit any supporting documents with the application form?
A: No, you do not have to furnish any supporting document with the application form. However, if you are short-listed, you will be required to furnish the business profile search from ACRA (Accounting Corporate Regulatory Authority), audited financial statements (for private limited company), tax returns (Form P for partnership, Form B for sole-proprietorship) and the attached certified accounts for the 2 years.
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