If you are operating a business with interests overseas, it is essential to hedge against currency fluctuations. Failure to do so can really hit your profit margins, especially for SMEs. The bulk of money traded by investors and speculators can easily cause unexpected movements in exchange rates. Besides the impact of translation risks on your gearing and income statements, your tax status will also be affected – whether realised or unrealised, gains will be taxed while losses will qualify for deductibility.

Today, an investment decision made in Tokyo can spell unemployment for many in England, while a business decision made in London can create thousands of jobs in Indonesia. This shows the great influence globalisation has on the world. It has not only made the world smaller, but also interdependent.

Skill training is an avenue whereby business owners can look into promoting improved work culture as well as productivity levels. In this issue of LR Wire, we will be discussing about the Singapore Workforce Skills Qualifications (WSQ) whereby SMEs in Singapore are able to train up their staff with minimal costs while upgrading their business capabilities.

iSPRINT (Increase SME Productivity with Infocomm Adoption & Transformation) is an initiative by the Infocomm Development Authority encouraging small and medium-sized enterprises (SMEs) to improve and transform their businesses with infocomm technology.