my Fatherly Life: business

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Thursday, December 2, 2010

We have moved!

We have moved!

The renovation is not 100% done yet, but they are finishing touches only.

I was on leave from work for 3 days to do the unboxing and arranging and rearranging. That is usually the rigorous part of it. I'd usually go with the movers when they move the boxes and furnitures here and there, but for the 2nd batch, I stole away from them. I had to be in the flat for the houseworks!

Before the boxes came, we had to do a quick tidying up of the place. The usually debris and fine dust from the sawing and cutting and all others is quite a health hazard, so we did that before anything can be laid down on the floor. We did that on a Saturday night, and then concluded the neatening work on Sunday. So Monday morning was a clean day to unload and uncrate. it is not exactly a shining clean flat, but one that is now ready for transferring the whole motherload of things we brought from the other flat.

And today I'm back to work. 2 days, and I'd be again out for a weekend escapade with the whole family. It's been planned so long ago, last year actually, when we attempted, but was unsuccessful due to full booking on the rooms and all. So we thought of having it this year, and the booking was early, earlier than most folks would do, just to make sure we have slot available.

So, till then. We're next to the top, so I'll be snapping up some scenes, and be the judge whether or not they are nice pictures.

Au revoir!

Tuesday, October 20, 2009

Enlightening encounters with service angels

A special feature on service

Lynette Koh

lynettek@mediacorp.com.sg

Good service should never come at a cost.

In the course of checking out service standards at various retail outlets for this series (as well as my own extensive non-investigative shopping trips), I have found that a store's price tags are seldom commensurate to its level of service.

Some of the most polite and helpful sales people can be found in clothing stores where prices rarely go above a hundred dollars; and some of the most clueless and curt sales assistants are found in stores where prices rarely dip below it.

The most exceptional examples of service, in fact, can be free, as one of my colleagues, who we shall call Jane, discovered on a ravenous evening several months ago.

Having seized a window of opportunity to grab dinner at a nearby fast food outlet after 8pm — and hours of nonstop work — she had ordered an upsized meal costing about $8, and was about to pay for it when she realised that she had left her wallet at her desk.

Crestfallen and hungrier than ever, Jane prepared to make the ten-minute trek back to the office to get her wallet.

Sensing her distress, however, the server manning the counter unhesitatingly told her she could return the next day to pay for her meal.

Torn between not wanting to take advantage of his kind gesture, and the allure of the food which lay before her, Jane recalled how she had made several half-hearted protests.

Eventually succumbing to the hunger pangs, however, Jane thanked him and promised to return at the earliest opportunity to pay for her meal.

Unfortunately, however, she never saw him at the outlet again, and subsequently, our office moved away from the area.

Even as she got over her feelings of guilt towards the free meal, Jane remained profoundly moved by the server's unreserved gesture of kindness.

My own experience with similarly exceptional service, while not free, was certainly discounted.

I have long nursed a tendency to take more taxis than is fiscally advisable, as well as a chronic inability to make the trip to an automated teller machine even when I am down to my last dollar (or less).

And the increasing number of taxis outfitted with Nets and credit card processing facilities has only served to increase my disregard towards having sufficient amounts of cash in my wallet — which led to my recent cab-related panic.

After work, I had hopped into a cab, unthinkingly as usual, distracted by thoughts of dinner options.

It only hit me halfway through my journey that I was in a taxi that had no credit card or Nets facilities. I had a little over $7 and the journey from the office to town would typically cost about $10.

After rummaging through my bag for five minutes — and losing any hope of finding a forgotten, not-empty ang bao deep in its recesses – I confessed to the taxi driver, asking sheepishly to alight only as far as the seven dollars would take me.

Instead of making sneering noises and throwing me out of his cab at the next traffic junction, as I half-expected, the cabby simply asked me how much money I had.

Amazingly, his jolly demeanour remained unchanged even after I confessed, as he drove on towards town.

"It's okay, lah," he said, adding that it was difficult to get a cab at that time of the day.

Waving off my promises to pay him the balance at a later date, the driver told me about other passengers' similar cash-short situations, which occurred from time to time.

Said the driver good-naturedly: "I just tell them, if you can, donate the money to charity."

My embarrassment faded as he continued making friendly chatter for the last 10 minutes of the journey.

As I neared my destination, I asked the cabby: "When a passenger says that she doesn't have enough money, how do you know if it's true?"

With a smile, he replied: "I don't – but well, all that happens is that I make a little less money, right?"

From TODAY, Voices – Tuesday, 22-Sep-2009

Wednesday, October 14, 2009

Cause and (halo) effect

Image via Wikipedia

To what extent are our purchasing decisions based on the way products are packaged?

If a person is good-looking, does that mean he or she is also honest, kind and intelligent? Any rational individual will tell you the answer is "no".

Good looks have absolutely no relation to one's honesty or intelligence.

However, in real life, when we meet a good-looking person, research has shown that we will assign traits such as intelligence or honesty to the individual.

Researchers call this the halo effect.

The halo effect, a fairly common phenomenon, essentially refers to the tendency to generalize feelings or evaluations of an object, such as the way it looks and its packaging, and associate these evaluations with other aspects of the brand, such as the perception of its quality.

It is a form of cognitive bias prevalent in many aspects of people's lives. It may affect a teacher's judgment of a student's performance, a boss's evaluation of an employee and, of course, consumers' judgments of brands and products.

The halo effect may affect how we view products and brands in two ways.

Firstly, positive evaluations of a product's attribute may influence a person's judgment of the other attributes of the same product.

For example, liking a perfume bottle may also make one feel that the perfume smells better and is more appealing than other perfumes. Knowing that an apparel is produced in, for instance, Korea, may also make one think the garment is better designed and of higher quality.

Secondly, positive feelings towards or evaluations of an item may also be extended to the broader brand. For instance, one's positive evaluation of a product, for instance, the Sony VAIO laptop, may be extended to other products by the brand, such as its MP3 Player.

This is one of the main reasons why companies prefer to introduce new products under a parent brand. By using the same brand name, marketers hope consumers may transfer the positive associations they have about the parent brand to the new product.

This is especially so for companies with strong brands, as people are more willing to try the new products and services they offer. Taking advantage of the halo effect is also one of the reasons why we frequently see lesser-known brands mimicking the packaging of well-known brands.

Thus, the halo effect may lead us to make unsound judgments or judgments that are too heavily dependent on one or two factors.

So, why do people adopt such heuristics (or mental shortcuts)? For a start, many are generally unaware that they are engaging in such generalisations. They are unconscious of its effect.

Even when people are told that their judgments have been biased by the halo effect, research has shown that they are unable to discount it adequately. However, there is an upside to such heuristics.

Given the multitude of decisions one has to make each day, using heuristics is actually a good way to reduce one's cognitive load. It takes one's mind off the complicated evaluation process and simplifies the entire purchasing decision.

In essence, the halo effect is ubiquitous and to a large extent, unavoidable. The next time you make a decision, perhaps you should take a moment to figure out how much of your decision is affected by the halo effect.

This article is contributed by Associate Professor Sharon Ng. She is an associate professor at the division of marketing and international business, Nanyang Business School, Nanyang Technological University. Her research focuses primarily on two main areas: Cross-cultural differences in consumer behaviour and branding issues.

From TODAY, Business – Tuesday, 15-Sep-2009

Friday, September 25, 2009

Let teachers motivate ...

Image via Wikipedia

AT SCHOOL

But principal uses motivational speakers to boost school's results

Letter from Roland Ang

RECENTLY, I received an SMS from my daughter's school asking me to sign up for a paid workshop to help parents understand their children - to be conducted by some neuro-linguistic programming (NLP) practitioners.

My daughter told me that the school had also engaged the same people to counsel and motivate them as her school principal was not happy with the overall mid-year result.

The purpose of the NLP-trained motivational speaker, they were told, was to help them achieve better results.

Private organisations use NLP-trained motivational speakers to enhance sales targets and customer service, notably in the insurance and time-share industries. Their relationships are purely commercial. However, that cannot be said between schools and motivational speakers as the latter have no stake and vested interest in any school.

Schools should leave the teaching, inspiring and motivating of children to parents and school teachers rather than relying on external trainers to enhance their overall school results just to maintain their school ranking. Is education all about results and nothing else?

Miss Ho Peng, the director-general of Education at the Ministry of Education, said in a speech recently at the Teachers' Mass Lecture as well as the formation of Professional Learning Communities (PLCs), which are powerful platforms for teachers to learn from one another, that it gives her great fulfilment when teachers move on to greater responsibilities and, in turn, help to develop others.

I think this is a move in the right direction for teachers.

There are many advertisements in from NLP entrepreneurs. Their punchlines are about helping those who sign up for their courses to attain financial success, or to "get rich fast".

Legally, this is not wrong, but morally these people are capitalising on the weaknesses of people with a desire to get rich fast without the need to work hard.

Such courses may lead to an erosion of the work ethic in the gullible young, especially during this economic downturn when many are unemployed or desperate to recover losses from bad investments.

If parents want to send their children to accelerated learning programmes, they do so at their own prerogative. But I hope schools will avoid engaging NLP practitioners merely to enhance their students' results. Rather, they should keep faith and trust in their teachers to inspire and motivate their students.

Our children are human beings and not commodities.

From TODAY, Voices – Monday, 31-Aug-2009

Monday, July 6, 2009

Opportunities exist despite downturn, say Singaporean designers

Image by Ed Yourdon via Flickr

In this time of recession, some are badly hit, while some are benefitting from it.

Still others say that we are able to survive, and some profess that opportunities abound.

For one of such story, read it here.

Friday, June 26, 2009

Household electricity tariff to go up from July 1

By Lee Siew Hoon, Channel NewsAsia | Posted: 26 June 2009 1604 hrs

SINGAPORE: After two quarters of downward adjustment, household electricity tariff will go up by 6.93 per cent or 1.25 cents per kilo watt hour (kWh) from July 1 to September 30.

Electricity supplier SP Services said the increase is due largely to higher average fuel oil prices from April to June which hit S$76.24 per barrel.

This is a 26 per cent increase from the S$60.47 per barrel used in setting the previous quarter's tariff.

The tariff is calculated based on a new formula which kicks in next month.

Under the revised formula, the electricity tariff for the next quarter will be based on the average fuel oil prices in the preceding three months instead of the fuel oil price in the first month of the previous quarter.

SP Services said the tariff revision is mitigated by a reduction in the cost recovery fee which it collects to cover the costs of billing and meter reading.

The fee which forms part of the overall tariff will go down from 0.28 cents per kWh to 0.22 cents.

SP services said this reduction is due to its productivity improvements and cost reductions. - CNA/vm

From ChannelNewsAsia.com; see the source article here.

Tuesday, June 23, 2009

Traffic Lights: Is Green A Safe Color?

Based on this video, green light on your lane... hmmm... it's not 100% safe... at least, when a driver from the other intersecting lane is not following his traffic light color...

Office Stress 4

Ever been stressed in the office? See this video... 4th one

Office Stress 3

Ever been stressed in the office? See this video... 3rd one

Office Stress 2

Ever been stressed in the office? See this video... 2nd one

Office Stress 1

Ever been stressed in the office? See this video...

Wednesday, June 17, 2009

When age is the limit

MATURE WORKERS

Older jobseekers cite qualifications and skills as other obstacles

Leong Wee Keat , weekeat@mediacorp.com.sg

05:55 AM Jun 16, 2009

THE 48-year-old made the journey from her home in Boon Lay to an office in Middle Road for a job interview - only to be told she was “too old”. The job Ms Jennifer De Souza was applying for?

A telemarketer.

“I was so angry I demanded my bus fare back,” she told Today. “Age should not be a factor in this line of work. If I’m willing to work, what’s the problem?”

Mature workers, like Ms De Souza, have found it harder to get employment in the first quarter of the year, according to labour market figures released by the Manpower Ministry yesterday.

Nearly six in 10 who were unemployed for more than six months were such workers. Compared with the same period last year, the number of long-term jobless people has doubled from 7,500 to 16,600 this year. And familiar faces have been turning up at meet-the-people-sessions, Members of Parliament have stated.

These jobseekers cite a combination of age, skills and education qualifications as obstacles to their re-employment.

Those with secondary education or lower are the hardest hit. Ms De Souza, who has O-level qualifications, for example, sent out more than 600 job applications over six months before she finally landed a job as an administrator in April.

To help mature workers overcome any physical limitation, labour MP Halimah Yacob suggested employers consider reducing working hours - from eight to six or even to four hours - to allow flexibility.

However, even as various options - such as re-training, job matching and highlighting vacancies - have been made available to mature jobseekers, some have been adamant as to the kind of jobs they would do.

MP Cynthia Phua said some insist on being hired as security guards even though jobs as cleaners are readily available.

At Punggol Central, residents not matched with job offers are given other helping hands: The Sengkang Community Club lent out 14 pushcarts and also entrusted its car park to four elderly residents to manage. The residents take home any profits.

Mr Goh Cher Chye, 53, takes home between $70 to $300 a month selling toys from a pushcart. Even though he is grateful for the help provided, Mr Goh’s wife had to re-enter the workforce to supplement the family’s income.

Ms De Souza, who is single, is slightly better off - her $800 monthly salary helps to cover the monthly $500 HDB mortgage.

“It is not great, but it beats sitting around at home,” she said.

From TODAY, News – Tuesday, 16-Jun-2009; see the source article here.

Saturday, June 13, 2009

Whither the personal touch?

Image by publik15 via Flickr

EMPLOYMENT AGENCIES

Now would be a good time to raise levels of professionalism

Letter from Gilbert Goh

I HAVE sought out the services of employment agencies before, but have been disappointed, to say the least. I have since given up relying on employment agencies for a job. Many ask you to lower your salary range to ridiculous levels or ask whether you are willing to do something totally different from your area of expertise. Most offer part-time clerical work at around $5 an hour.

I have found, in general, their service to be terrible. Many simply do not respond to you at all after asking you to send a resume. Even if you attend their interviews, many do not get back to you thereafter.

To me, employment agencies here lack professionalism and the personal touch. They are merely interested in clinching sales, oblivious to the feelings of the jobseeker.

Due to the agencies’ focus on meeting sales targets, many of their staff move on when they are unable to meet sales targets so there is no continuity of service. A client could well be served by a few different consultants over a short period, say three to four months.

The consultants here are mostly in their 20s and can hardly be expected to be able to empathise with a middle-aged jobless person. They do not understand the struggles a middle-aged worker has and can be insensitive when trying to coerce someone to enter a totally new field of work.

Maybe there are too many jobseekers then and too few jobs available for matching; still, it would be nice to be treated as a person, not a statistic or sales target.

Now would be a good time for employment agencies raise their level of professionalism. For starters, a templated response should be provided to every email and enquiry over any job opening. This is simple professional courtesy.

There was one positive experience I had with a woman from a small recruitment company. Not only did she exhibit understanding and provide encouragement, she also took time to go through my resume and suggested some changes so it would appear more professional. Though she did not manage to get me a job, I still remember her many years on as one of the rare few to stand out.

I am not here to run down all employment agencies. I am sure some are well run, professional outfits. Nonetheless, I urge all jobseekers to try all avenues and spread your resources around, so that you can benefit from several job search vehicles.

From TODAY, Voices – Friday, 12-Jun-2009

Friday, June 12, 2009

Many facets to road safety

Image via Wikipedia

I wanted to tell about this… already told, so I'll wait for the reply…

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Indiscriminate parking puts other motorists at risk

Letter from David Zaccheus

05:55 AM Jun 11, 2009

I REFER to "Don't be a road menace" (June 10), a letter from DSP Paul Tay.

Another group of road users who endanger others are those who indiscriminately and illegally park their vehicles. This happens almost every day from noon to 2pm, and sometimes for the entire day. It doesn't matter what the road markings are - continuous white lines, zig-zag lines, double yellow lines ... It is an act that is committed deliberately, regularly and persistently.

The Land Transport Authority website, www.onemotoring.com.sg, states: "Parking illegally might save you a few minutes or a few dollars. The few minutes or dollars will not help when precious lives are lost.

"Drivers who violate parking restrictions may receive a parking ticket and get demerit points. However, do you know that illegal parking may have more serious consequences than fines or demerit points? "

According to the non-profit Association for Safe International Road Travel, "parking violations can contribute to congestion and may be some factors in road crashes".

The "hot spots" of chaotic, illegal parking are well known to most drivers, yet continue to exist. The road menace must be holistically dealt with, not selectively. I hope the police will address this nuisance.

From TODAY, Voices – Thursday, 11-Jun-2009

Monday, June 1, 2009

The family that works together...

Stays together — that's what the Teos are betting on

Tan Hui Leng, huileng@mediacorp.com.sg

WHEN Teri Teo told his family in 2007 that he was quitting his full-time job as a sales manager in the plastics industry, selling his car and pumping in some $300,000 of his savings into a recycled plastics business, they were concerned, to say the least.
After all, he was then drawing a comfortable salary of around $5,000 to $6,000 and his daughter, Si Qi, was just three years old.

"They were worried because my wife and I were putting in so much of our savings into the company," said Mr Teo, the 38-year-old operation director of Winrigo.

"As environmental awareness was not so high then, they also wondered if people would buy the concept of recycled plastic."

Despite their misgivings, the extended family threw their support behind the entrepreneur to help him in whatever way they could — from lending the couple $100,000 in capital to introducing business contacts to tips on where to find sources of plastic.

"Sometimes, when I have to go to our Malaysian factory, my sister or another family member lends me their car," he said. Mr Teo has stakes in two factories in Malaysia and Batam in which Winrigo's trademark recycled plastic, R3plas, is produced.

"My sister, who is in the construction industry, also lends us equipment, such as a forklift, whenever I need it."

And it's not just his seven siblings who are involved; his nieces and 11 nephews are also roped in whenever he needs help.

For example, his nephew has helped him in copywriting. A graphic-savvy niece designed the R3plas logo.

"Our family ties are really strong and family members will always chip in when I ask for help without asking for anything in return," he told Weekend Xtra.

Given the Teo family's initial worries, it must be gratifying for them to see Winrigo's promising outlook as an end-to-end solutions provider of recycled plastic products.

Winrigo not only provides plastic resin like other plastic companies in Singapore, it is also involved in the design and manufacture of products such as plastic bags, crockery and even hospital disposal units. Some of its products are biodegradable.

Nanyang Optical's spectacles are made from recycled plastic are made by Winrigo. The dog poo bags you see at Singapore parks, as well as at Sentosa Cove, are also from the company.

Last year, Winrigo achieved $1 million in sales turnover. His target for this year is $1.5 million, and aims to hit $2.5 million in 2010 and $5 million in 2011.

Mr Teo first realised the potential of recycled plastics when he was working for various plastic resin suppliers some 13 to 14 years ago. "I saw a lot of good, usable plastics thrown away and being wasted," he said. "I realised that these could be recycled and resold. It was a business opportunity."

His first convert was his wife of nine years, 31-year-old Madam Lily Toh, who quit her job in finance to run Winrigo's office and accounts.

"All the while, it has been his goal to set up his own business. What I can do is to give him my full support," she said.

Her 59-year-old father, who is a lorry driver in the logistics business, helps transport cargo for them.

Today, Mr Teo works 16 hours a day and draws less than $2,000 a month. Mdm Toh draws about $1,000. They employ another four staff in Singapore.

Mr Teo admitted candidly that the company is still in the red and that he has not yet returned the $100,000 or so he has borrowed from relatives. However, Mr Teo expects his company to break even by 2012. His confidence stems from the fact that both Winrigos' sales and turnover have spiked by 100 per cent since 2006.

This has been achieved even though recycled plastic costs 3 to 5 per cent more than prime plastic, as much more testing is involved to ensure that the reclaimed plastic is of suitable quality.

"Since the end of 2007, we have received at least one call every day from aunties who ask us where they can buy our recycled products," said Mr Teo.

Apart from the satisfaction that he gets from running the business, his involvement with Winrigo has also made the Teos and their extended family realise how vulnerable Mother Earth is.

"My family is now more aware of sustainability in our daily lives, like reusing and recycling items," he said.

"It's important to be environmentally friendly so that we leave a healthy planet for our next generation."

WEEKENDXTRA

From TODAYOnline.com; see the source article here.

Monday, May 25, 2009

CPI falls 0.7% in April

This is a related news to the 'Mum's cooking, and everyone's eating home' news, which is causing lower sales at eateries but more at groceries – a higher bill at home…

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Singapore is beginning to experience deflationary pressures, as consumer prices fell last month due to lower housing and transportation costs.

Data released yesterday by the Department of Statistics showed that the consumer price index (CPI) last month fell 0.7 per cent from April 2008, the first decline since June 2005. Analysts had expected it to rise 0.4 per cent.

April's CPI reversed the 1.6-per-cent increase in March. The fall was due mainly to a decline in housing, transport and communication, as well as recreation costs. Lower electricity and conservancy charges helped push the housing component of the CPI down. Transport and communication costs slid more than 6 per cent as a result of cheaper petrol and lower car prices.

The April CPI was 1.5 per cent down from the previous month after adjusting for seasonal factors, the biggest decline since records began in 1974, Reuters reported. The central bank is forecasting that this year's overall inflation rate will be between -1 and 0 per cent.

But Mr David Cohen, a director at Action Economics, doesn't think the latest data heralds the start of a deflationary spiral: "I think this is going to be temporary — several months below zero; it does reflect the easing of inflation pressure for sure. The energy prices globally have already started to steady. And maybe we will see softness on the housing side for a while yet." Channel NewsAsia

From TODAYOnline.com, Top News – Tuesday, 26-May-2009; see the source article here.

Mum’s cooking never tasted better

In my family's case, it's mum's and dad's cooking… I'm helping in the kitchen while my wife is on her pregnancy… maybe even after that… it is something enjoyable, especially when after dinner it is a scene of empty plates and empty pots…

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EATING IN

Household spending up as more eat at home and food prices go up

ESTHER NG, estherng@mediacorp.com.sg

IN A bid to tighten belts, more Singaporeans are opting for home-cooked meals instead of dining out.

As a result, the average monthly household expenditure has increased by some 14 per cent, according to the latest Nielsen survey.

This is due partly to higher food prices and Singaporeans spending more on fresh produce, groceries and household items compared to the same period last year.

"Fresh food spend registered an average growth of 15 per cent across households, with the biggest jump, 27 per cent, reflected among high-income households," said Ms Ooi Pin Pin, The Nielsen Company Singapore's associate director of retail services.

Though wet markets continue to capture half of shoppers' share of wallets, they are slowly losing their customers to supermarkets and hypermarts. Wet markets registered a 9-per-cent drop in fresh food spend by consumers last year, on top of a 7-per-cent decline in 2007.

On the other hand, supermarkets and hypermarts reported an increased spending of 7.7 per cent and 53 per cent on fresh produce, respectively.

The finding was backed by Mr Tng Ah Yiam, NTUC FairPrice's director of integrated purchasing.

Sales of fresh produce at FairPrice have increased by about 15 per cent in most categories — with fruits, vegetables, bread, fish and eggs registering the biggest rise compared with last October.

He added that sales of organic products at FairPrice "have increased by more than 20 per cent compared with the year before".

To combat inflation, some seven in10 Singaporeans said they have altered their spending patterns. For instance,74 per cent of shoppers indicated that they now buy only the essentials, such as rice, bread and infant milk.

Higher food prices, according to the survey, have led to shoppers cutting down on impulse buys such as chocolates, soft drinks and snacks.

However, said Mr Tng, this was not the case at FairPrice.

"Sales of non-essential food items — snacks, chocolates, ice-cream — remain largely unaffected. In fact, some items have seen sales increase. We believe this could be due to more customers opting to spend time at home in the recession," he said.

Nielsen surveyed 1,300 households between September and November last year. The inflation rate in November was 5.5 per cent. Singapore's inflation rate unexpectedly fell to -0.7 per cent last month, its first decline since June 2005. Food prices, however, rose 3.6 per cent.

From TODAYOnline.com, Top News – Tuesday, 26-May-2009; see the source article here.

Saturday, May 16, 2009

Overly Generous… to one’s self?

I found this striking thought about being generous to others, and more so, to one’s self… self-indulgence? May we not fall into this bondage… please God.

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“An upscale London department store launched a new gift card with the slogan, “The Gift of Self-Indulgence.” Throughout the store, signs, slogans, and even nametags called attention to the cards. According to one employee, sales of the gift cards during the first weeks of the promotion had been very strong, far exceeding company expectations. Generosity may prompt a person to give a luxurious gift to someone special, but too often we find it easier to purchase what we want for ourselves.”

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From Our Daily Bread, “The Gift of Self-Indulgence”, 16-May-2009

Tuesday, April 14, 2009

Passion is the key

I wanted to be in this (younger) man’s shoes some day, and oh, to wear my own shoes by then! That would be some achievement!

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Recession sees more interest in Talentpreneur Hub’s start-up programme

Tan Hui Leng

huileng@mediacorp.com.sg

IT IS the worst of times. It is the best of times. As a pall darkens over the economy, costume designer Muhammad Razy Ibrahim thought it was an opportune time to set up his own business.

The 28-year-old resigned from his regular job in January to strike out on his own. Today, he runs his start-up Costume Di Amour from his parents’ four-room flat in Jurong West.

“My friends thought I had a mental disorder,” he said. “They thought it was a very risky move because there’s no safety net if something goes wrong.”

But for the fashion graduate from the University of Huddersfield, it was time to set up shop — recession or not. Thankfully, his family was supportive.

“I’ve always wanted to set up my own business in fashion and have been thinking about it for a while,” he said. “So, I finally stepped forward and did it.”

For now, Mr Muhammad Razy does everything himself, from designing to sewing.

Like many small businessmen, cash flow has been his number one problem.

Fortunately, he has been winning clients by collaborating with event management companies. He has found some corporate clients, like Standard Chartered Bank.

Mr Muhammad Razy is currently in the midst of a 10-week start-up programme with private company Talentpreneur Hub, which helps young companies develop their businesses.

Talentpreneur Hub’s founder Ken Koh has been seeing more interest in the programme, especially from 20- and 30-somethings who have been toiling as salarymen and women for years.

“In a recession, opportunity costs are lower. You have more time to plan. Overhead costs like rental and manpower are lower,” said Mr Koh, who is an entrepreneur himself.

Furthermore, people may be more willing to work for an SME when big multi-nationals tighten their headcounts and budgets.

Another start-up that has benefitted from Talentpreneur Hub’s mentorship is Optimal Online Marketing (OOM), which offers online marketing solutions like search engine optimisation.

Set up two years ago by three secondary schoolmates from Deyi Secondary School, the business is now profitable with over 50 clients. Among them are familiar names like restaurant chain Jack’s Place.

“I think we are very lucky to be living in times when you don’t need a lot of capital,” said managing director of OOM, Wayne Eo.

If aspiring Singapore entrepreneurs want some inspiration, they should perhaps take a look at David Evans who started his business Grass Roots in London in the thick of the 1980 recession.

Toiling long hours in a basement office in Oxford Street with just himself and a typist, the then-32-year-old was clear about what he wanted and where he wanted to take his firm. Today, his performance improvement firm is a multinational operating in 16 countries with over 1,000 staff worldwide. Even in the downturn, it is now expanding in Asia with Singapore as its hub.

Rolls Royce and Bentley, Toyota, Barclays and HSBC count among his clients.

“Whether you start a business in a recession or during good times, the key is passion,” Mr Evans said.

From TODAY, Enterprise – Wednesday, 08-April-2009

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