Empowering Growth Through Grants: August Highlights

Welcome to our August newsletter!

​This month, we delve into the power of grants to drive business growth and innovation. From avoiding common pitfalls in grant applications to the successful transformation of operational efficiency through automation and AI, we bring you insights and success stories that highlight the importance of strategic grant consulting. Read on to discover how you can leverage these opportunities to take your business to the next level.

Driving Impact with Strategic Grant Applications: Client Successes

We are committed to helping our clients achieve significant results through strategic grant applications. This month, we’ve successfully secured grants for multiple clients, enabling them to adopt new technologies, improve operational efficiency, and expand into new markets. These successes underscore the value of expert guidance in navigating the complex grant application process.

Enhancing Operational Efficiency with Advanced Automation and AI Solutions

A leading warewashing management solutions provider in Singapore, specializes in tailored services for the Food and Beverage (F&B) sector. Facing increasing demand for efficient and hygienic warewashing, the company partnered with Real Inbound Consulting to secure an Enterprise Development Grant (EDG) and transform its operations through automation and AI.

Challenges

Solutions

Results
  • Labor-intensive manual processes led to inefficiencies and increased reliance on a large workforce, driving up operational costs.
  • High operational costs due to slow, error-prone manual tasks.
  • Inefficiencies in tracking wares resulted in delays and inconsistencies in service delivery.
  • Maintaining consistent hygiene standards was challenging with manual handling, increasing contamination risks.
  • Excessive water usage contributed to higher costs and environmental concerns.
  • Automated Soaking and Sorting System: Installation of machines to replace manual pre-washing and sorting.
  • Advanced Dishwashing and Drying Equipment: Implementation of industrial dishwashing machines with water recycling and hot-drying systems.
  • AI-based Software System: Integration of AI imaging for automated data capture and a QR code system for efficient tracking and delivery management.
  • Operational Efficiency: 85%+ improvement in weekly productivity, saving 800+ staff hours per week.
  • Cost Savings: Estimated annual savings of over SGD 350k, with a projected 5-year productivity gain of approximately 7 times the project cost.
  • Enhanced Hygiene and Water Conservation: Significant improvements in both areas, leading to higher customer satisfaction.
​At last, all clarifications done with the auditor and auditor cleared us already. Thank you very much for your excellent contributions – pat on the back. As mentioned, the Enterprise office okayed us after the visit. So all should be in order. Hope to receive the grant soon! Thanks!" - Chief Operating Officer

Common Pitfalls to Avoid When Applying for Business Grants

At Real Inbound Consulting, we understand how critical business grants can be in propelling your company towards innovation, expansion, and enhanced competitiveness. However, the grant application process is fraught with challenges that can derail your efforts if not navigated carefully. Based on our extensive experience, here are the common pitfalls you should avoid to increase your chances of securing business grants:

  • Inadequate Preparation and Research: It's vital to understand all eligibility criteria before applying, and to maintain these criteria throughout the entire project. For instance, one of our clients faced issues when their local shareholding fell below the required percentage mid-project, leading to complications in their grant claims.
  • Incomplete or Inaccurate Applications: Errors in your application can lead to confusion and underfunding. One client experienced this firsthand when typographical errors in their costing details caused complications with their grant offer.
  • Poor Cost Planning and Budgeting: Including non-qualifying items in your budget can result in financial burdens, as these will not be covered by the grant. We ensure that budgets are realistic, detailed, and aligned with the grant’s funding scope to avoid unnecessary costs.
  • Ignoring Evaluation Criteria: Aligning your project with the grant’s objectives is crucial. For example, a client wasted time and effort on a proposal centered around Hubspot CRM, only to find that it was not eligible under the Enterprise Development Grant (EDG).
  • Lack of Quantifiable Outcomes: Clear, measurable outcomes are essential for grant approval. Without these, it’s difficult for grant officers to gauge the impact of your project.
  • Underestimating Time Commitment: Managing a grant project requires meticulous planning and ongoing communication with the grant agency. Failure to allocate sufficient time can lead to delays and jeopardize the grant’s success.​
  • Ignoring Post-Application Processes: The work doesn’t stop after submitting your application. It’s crucial to respond promptly to follow-up queries from grant officers to avoid application withdrawal.
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For a deeper dive into these pitfalls and how to avoid them.

Using Grants to Drive Sales Internationally: Insights from Industry Experts

Expanding your business beyond your home territory is a significant milestone, but it comes with its own set of challenges and risks. In our recent webinar, we explored how businesses can navigate these complexities and leverage grants to support their international growth​.​

Our distinguished speakers, Gerald Yap, Founder and Director of Real Inbound Consulting, and Fraser Morrison, CEO and Founder of 1000steps, shared their expertise on maximizing these opportunities for business expansion last August 22, 2024 on our Live Webinar event. 

Missed the live session? Don’t worry!
You can watch the webinar replay on our website.

Upcoming Events

Webinar

Watch our past webinars, learn online with experts from the comfort of your location.​

RIC Grant Clinic

Gain insights and guidance on securing grants in a group setting.​

Events & Other Activities

Connect, network, and engage directly with industry professionals.​

Thank you!

Thank you for reading our August newsletter. At Real Inbound Consulting, we are here to support your journey towards business excellence through strategic grant consulting. If you have any questions or need personalized assistance, please do not hesitate to contact us.
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