S$20.5billionfor the economic stimulus plan, out of which S$4.9 billion is coming out from our reserves for the first time. Seems like the economic crisis is really bad this time round.
To keep things short, it is to help the lower income/middle group in terms of their tax reliefs like the individual income tax, property tax(only for homes that you occupy, hence the richer people with multiple homes do not benefit). But more importantly, it is targeted to helping companies.
Hence, it is technically the best time to set up a business, provided that you can find your niche. The lower corporate tax, the higher government guarantee and all the packages to help train workers. To me, it sounds like a possible business idea.
*picture taken from here
I am thinking of setting a business to educate people on personal finance . It may be similar to what a financial planner might be saying, but I am non bias, I don't get you to buy any products and I genuinely want to help you to save money. I am thinking of teaching simple facts like
- Power of compounding interest
- Places to make your money grow
- Ways to save money
- How to effectively make use of your CPF
- And other things that will be financially
Also, since the government is providing funds to send workers for training, I might be able to tap on these funds..as companies can send their workers to learn about financial planning.
To add on, the government also intend to spend $9200 per student for the next 5 years, which I suppose are for enrichment courses.
Imagine charging a fee of $20/ person per session, but doing it on a large scale, say for example 30 students at a go and trying to target ALL schools/community centres/youth groups/enrichment courses 'add ons' etc.
Any comments from anyone? Or anyone who is keen on helping develop the idea?