Interview between World Business Mind (WBM) and Andy

Glad to share with you this news on TV. In case you missed it, I have recorded it and just click on this link with speakers on: http://www.themessagegroup.com.au/last-nights-news.php?title=20090126-ANDY-NG_create.html

Interview between World Business Mind (WBM) and Andy
WBM: Why is it that the Signapore Government itself is not lending money to SME and instead guarantees 80% of the bank loans? We know that banks only lend money to companies that have good prospects and cashflow, so most SMEs will not get the bank loan, even if there is government guarantee. But companies that buy over the weak companies will get the loan.

So looks like we end with the big companies eating up the small SMEs using government-guaranteeed bank loan!

Andy: Yeah, it's obvious that the government knows that many SMEs will not survive in this crisis. Actually this crisis is nature's way of correcting itself. In the busienss world, that means wiping out the inefficient and lousy businesses. Of course no government will lend to lousy business (except US).

WBM: So does this means you are expecting many SMEs to fold up this year?
Andy: Of course. The numbers will be about 2 to 5%, 3 times the normal 1%. This means about 2,000 to 5,000 SMEs of total of 100,000 SMEs.

WBM: Many of our readers are also SMEs, what advise can you give them to avoid being wiped out in this crisis?
Andy: The age-old advise: have a strategy and drive that strategy with determination.

Quote: In this Turbulance age, it is not the big fish eat the small fish, or the fast fish eat the slow fish, but the good fish eat the lousy fish.

WBM: One final question: do you have any quick fixes for SMEs that are strapped for cash?

Andy: 5 Strategies: Increase Sales, Get Free Salesmen, Get Business from Suppliers, Work on Government projects and Reduce Management Pay to almost $1 so as to get real followership. WBM: Wow! That is really radical. I wonder how many SMEs can implent that. Do you have any quick short courses on this? Andy: Watch for my next blog then... AndyTheCoach hpa88@singnet.com.sg