SINGAPORE, SINGAPORE – Last week, the SBA (Small Business Administration) changed the definition of “small business” by adjusting the standard size, which determines whether a company is considered a small business. Depending on the industry, either the annual revenue or the number of employees will save as basis to determine the size of an organization. Due to the change by the SBA, which will take effect on July 13, thousands of companies that are currently considered “large” will fall into the “small” category in the future. Critics fear that the new definition will be disadvantageous to actual “small businesses” since based on the new guidelines, favorable SBA loan offers will be available to considerably more companies which could leave startups struggling to find financing.
Luckily more and more small banks are willing to fill the gaps for small companies and offer loans to young and growing businesses, hence granting them access to capital. And a number of well-established large companies has recognized the importance of small businesses with their innovative power for the overall economy and has developed initiatives to support their smaller peers. One company that is on the forefront of this movement is Selacorp, an all-in-one business solutions provider, which under the leadership of Managing Director, David Selakovic, provides a varied number of services and solutions to small businesses that are struggling with limited funding or capacity. Services aim at providing access to education, offer business support and help with finding financing solutions to ensure that small businesses can create new jobs and follow through with their innovations and business ideas.
“At Selacorp, we understand the role that small businesses have in society and that is why we are always looking for ways to ensure that they will gain the knowledge and understanding to become competent in the industry,” explains David Selakovic. Programs include practical courses for future business owners or for existing business owners who are looking for advise. Selacorp cooperates with education institutions to offer professional and up-to-date modules to provide small businesses with the necessary knowledge and training. On top of that the company makes capital funding and assistance in capital management for small businesses available to ensure the success of business endeavors.
Selacorp was founded by David Dragan Selakovic and thanks to his experience as an information technology software architect and developer it has evolved into a leading company that offers complete business solutions for technology, research and innovation based on specialized strategic IT resources and intellectual asset management. With the help of the competent and motivated service team, Selacorp delivers flexible, resourceful and creative services and innovative products that are tailor-made to fit the needs of individual clients. Selakovic is a renowned business leader and savvy investor who has owned and managed many companies. Born and raised in Slovenia, Selakovic has worked and lived in countries all over the world and currently resides in Singapore with his wife Leah Selakovic. His innovative spirit drives him to constantly create and build, with regards to new business ideas as well as to his philanthropic endeavors.