AS A management consultant, I feel there is no need for companies to engage consultants to assist them in applying for the Productivity and Innovation Credit. The Government has made the application process seamless, compared to when the scheme was first launched.
Nowadays, we can find advertisements touting the services of consultants out to make a quick buck.
Many companies hesitate to engage consultants because they are afraid of being "conned".
I recommend that companies check the credentials of consultants they are planning to hire by ensuring they are experts in the subject matter and have proven track records.
Consultants are supposed to provide sound and professional advice that is practical and productive.
Whenever there is a grant, companies should leverage it. They should not just hire any consultant to benefit them financially, but more importantly, the consultant must have the intention of bringing the business to the next level.
All government grants are co-payment schemes where the companies still need to fork out a certain amount of money for the project implementation.
Some consultants inflate their professional fees to help companies recover the actual payable fees, and I am glad the Inland Revenue Authority of Singapore and Spring Singapore are taking action against consultants and companies doing that.
Companies should hire only consultants with a clear conscience, professional conduct and the intention to help them succeed.