A Comprehensive Guide to Customizing Commercial Vehicles in Singapore

Most business owners know that a customized commercial vehicle can help to improve efficiency and profitability. Being able to enhance its features can help workers to quickly access more tools and supplies. This can also reduce the time taken for business processes such as making deliveries or simply attending to customer service operations. To find out more about other customisation features, read the article for a comprehensive guide.

 

Customization of Commercial Vehicles

When it comes to customizing a commercial vehicle, one will look out for components such as the open deck, box, tailgate, freezer, full canopy and half canopy. Simply customizing these features will help to enhance work efficiency and reduce time taken for certain services or operations.

For each customised configuration, we will discuss further about its implications.

Commercial vehicle customization can lead to innovative new functions and uses. It is common for a business to understand that there are many opportunities to work better and smarter by making vehicle alterations. Commercial vehicles can be redesigned and further enhanced according to how you want to work and how you can work your best.

Open Deck

The open deck allows for accessible transportation of tall or compact goods and inventions for space and load optimisation. The open deck can also be customised to suitable materials such as wooden or steel decks. These open decks are usually used in various business industries such as logistics and warehousing, as well as freight forwarding.

Box

If you are looking to customise a commercial vehicle with a box, you are probably working in a company that transports home appliances, furniture, or any medium weighted goods. In this case, you can seek to customise the commercial vehicle with a box such that it has a rear door and side sliding doors.

Tailgate

A commercial vehicle with a tailgate is able to load goods from ground level or a loading dock to the level of the vehicle bed, or both. This is usually essential in industries such as food and beverage business, home appliances, furniture, or any weighted goods. The tailgate of commercial vehicles can be customised based on the types of vehicle model and the loading and unloading requirements. The customization is made such that it helps to meet specific industrial needs.

Freezer

The freezer of a commercial vehicle is used to maintain suitable temperature for frozen goods and transporting them for the highest level of satisfaction. This is mostly used in food and beverage industries. Some examples include bakeries, confectionery shops, dairy food, agricultural and livestock manufacturers or distributors. Some freezers can be customised to include a good quality stainless steel floor or heavy-duty reinforced flooring and carpeting with high corrosion resistance and durability. Moreover, there are other wide varieties of customisation options such as single or twin compartment, standby generator and thermograph to provide customers with different purposes or choices.

Full and Half Canopy

The canopy commercial vehicles are best suited for transporting passengers and goods. They are good in protecting the transported goods from unfavourable weather conditions. Drivers can customise them in available options of full, half or inter-changeable canopy structures. These canopy vehicles are typically used in labour related works, logistics and warehousing, freight forwarding, construction, as well as food and beverages industries. Some canopy can be redesigned to different lengths and materials to keep your tools dry, secure and in optimal working conditions.

Price of Customization

Depending on what components you are seeking to enhance, the price might differ significantly. Add-in custom modifications to more complex components in larger vehicles such as the compartmentalised freezer box can be pricier. Minor enhancements to commercial vehicles components such as the canopy will be less costly.

 

Other Solutions

At this point, you might be interested to customize your commercial vehicles. But there are certain obstacles such as the selection of contractors, the vehicle’s inspection and financial cost that you have to bear for the add-ons in order to experience the advanced functions. Moreover, commercial vehicles cannot really be used for personal transportation, unlike private cars.

Thus, we have a reasonable solution for you: rent a commercial vehicle from a professional commercial vehicle rental company with everything ready for you.

Commercial vehicle rental provides the same quality that you’ll receive with vehicle customization, except at an affordable cost. You could even choose a commercial vehicle depending on what specific needs you may have. You can easily select your favourite series and save costs of maintenance fee and eliminate upfront payment for additional commercial vehicle customization features.

You can also choose between a long-term lease, and a short-term rental. If you only use commercial vehicles solely on a few events or currently own a substantial fleet of vehicles, then, it is best for you to just rent it – for convenience and cost efficiency. While meeting unique operational needs, you have kept a rein on cost efficiency.

As one of the top professional providers of affordable automotive services and commercial vehicle rental in Singapore, ETHOZ offers commercial vehicle rental in Singapore to business owners seeking to optimise their operations, where zero downtime, predictable operating costs and controlled cash flow outlay are paramount. We offer customisations for vehicles on long-term lease, and a wide range of pre-customised commercial vehicles for short-term rental.

We pride ourselves in prestigious automobile rental services with all sorts of features and functions to satisfy your needs. It is apparent that our growing strength of customers are constantly benefiting from the quality of our commercial vehicle rental services. Furthermore, the expertise of our fleet management team who provide dedicated efforts and service works has ensured our business to sustain long term relationships with all clients and customers.

Should You Rent A Car in Singapore: The Pros & Cons to Consider

Overview of Car Rental
When you rent a car, the company providing you the car is known as the car rental service provider, whereas you become the hirer. An individual can rent a car for travelling in the outside place. While utilising a car rental service, you can rent the vehicle for a specific period of time.

 

Car Rental in Singapore

Although we can travel to almost everywhere in Singapore using our remarkable public transport, we still love to rent a car for the convenience, business purpose, or just a simple reason – enjoying the air-con in our sunny island. And renting a car in Singapore is pretty easy because there is a huge range of car renting service providers including sophisticated international companies like Budget or Hertz.

The cost of car rental services differs significantly in Singapore – famous companies are definitely more expensive. Fortunately, Singapore has plenty of affordable car rental providers, so you’ve got many options.

 

Pros of Car Rental in Singapore

Many individuals feel that it is beneficial to rent a vehicle especially during an excursion for work or family. It is also convenient to rent a car when your vehicle is under repair/in the workshop for a particular time frame. To sum up, there are quite a few advantages of car rental in Singapore.

 

1. Affordable Cost

The cost of renting a car is a small amount as compared to the expense of purchasing your own vehicle. The overall cost of owning a vehicle in Singapore is incredibly high (including additional cost of road tax and COE). Car rental is a more cost-effective option if you do not intend to drive the vehicles constantly.

Short term car rentals can save you from the worries of maintenance fee and depreciation loss (wear and tear). If you don’t need a car everyday and tend to use it on special occasions only, it is best for you to just rent it to save yourself from unnecessary cost burden of insurance fee, servicing and Ministry of Transport test car inspection (MOTS).

 

2. Accessibility

There are many car rental companies out there with remarkable services. A good car rental company will give you access to a stunning variety of different cars and types. Depending on your preferences, you can observe the available options and pick your favourite car.

Although you may say buying a car also gives you unlimited choice, renting allows you to drive for shorter term needs, and readily access and switch to different vehicle types based on how your needs change—instead of being stuck with the same car you bought. Plus, if you’ve ever aspired to drive a higher-end luxury car that you can’t afford to buy, you can get a chance to experience it at a much more affordable price by renting it—without having to worry about monthly car instalments after!

 

3. Convenience

If you are hoping to spend an excursion or occasions within the city, you have the opportunity to rent a vehicle conveniently for the short term. Doubtless to say, car rental is extremely essential if you don’t have a car and you’re planning for a road trip, family hangouts or business trips in Singapore.

Unlike travelling on public transport, you can stop anytime to admire any local sights with your friends or family members. Travelling with other strangers in a public transport will only allow you to see sights in a limited view and communication. While riding on a rented car, you can also define your own route or take alternative ones conveniently.

Thus, it is safe to say that travelling in a rented car gives you convenience and more time to admire the sights with your beloved ones. There is a certain effect of adrenaline when you are driving on your own.

 

4. Comfort & Fun

Renting a car allows you take your wild adventures at your own pace without being dictated by bus and train times. Sometimes, travelling on public transport can be a hassle if your plan doesn’t go smoothly.

Travelling on a car is faster and more accessible as compared to walking, taking buses or trains. Renting a car also offers you the comfort to move around flexibly; you can dance along with the familiar tune on the radio, talk to your friends or family members in a natural tone that you want or relax and be as comfortable as you want.

 

Cons of Car Rental in Singapore

While there are many advantages for renting a car, it also comes with their cons.

 

1. Strict Rental Terms and Conditions

Some rental car companies might have a policy with stringent conditions. This is implemented so that hirers are more careful in using the vehicles.

At the end of the rental agreement, you must return the vehicle in its original condition. This means that you must take good care of the car.

 

2. No Rebates Entitlement

Hirers are not entitled to benefits of Car Ownership, for example rebates such as PARF rebates. PARF rebates are only for cars not more than 10 years old and taxis not more than 8 years old.

The newer your car or taxi is when you deregister, the more PARF rebates you will get to enjoy. To enjoy the PARF rebate, you must meet the eligibility criteria of owning a car (doesn’t apply to rentals).

 

3. Only Authorised Drivers Allowed

Only named and authorised drivers can drive the rented cars. If you intend to have more than one person driving the car, it is compulsory to add an additional named driver into the rental contract. A small additional fee will be charged for insurance coverage. Unlike a purchased car where any family member with a driving license can drive at any point in time, driving arrangements must be made beforehand for a rented car. These are additional procedures that drivers need to go through before renting the car.

 

Conclusion

Car ownership in Singapore can be rather expensive and complex. The Certificate of Entitlement (COE) is also a formidable barrier to entry for the average consumer. However, your need for convenience and accessibility can be met by car rental services in Singapore.

ETHOZ Group is a professional car rental company in Singapore with 40 years of experience. With professional services and affordable pricing, rest assured that you will have a smooth and safe trip to your destination. We provide professional car rental in Singapore with a fleet of readily available and reliable vehicles at competitive rates to meet all our customers’ needs and customisable wants. Speak to our friendly team at 66547788 or drop us an enquiry at contactus@ethozgroup.com to explore the car rental options available to you.

7 Reasons Why Your Business Should Hire A Limo Service in Singapore

A limousine, or known as limo for short, is a large and long luxury vehicle driven by a chauffeur. It consists of a very long luxury sedan (with more than four doors) driven by a professional driver. Undoubtedly, limos are very expensive luxury vehicles typically used for special occasions. However, there are a handful of benefits to hiring a limo car rental service. They are regarded as ‘royal vehicles’, which is highly honored by companies who hire the service. There has been an uprising trend of limo car rentals for special occasions due to its numerous advantages. In Singapore, more people are considering hiring a limo service. Thus, we have summarised a comprehensive list of benefits of using a limo service in Singapore.


1. Reliability

The price and features of a limo have far exceeded the quality of a normal car. Thus, companies wouldn’t want to exclude the element of quality while providing a limo service. Like a ‘royal vehicle’, limo service means a lot to the ones who provide it. Thus, you can rest assured that the ride will be punctual, convenient, luxurious, top-notch and comfortable. Wherever you want to travel, you won’t have a bumpy ride. Due to such reasons, many people are opting to get a limo service for an airport transportation service as well.


2. Security

With quality based service, you will be safe in the limo vehicle, as well as on the road. Companies providing a limo service have strict measures and regulations while choosing their driver and providing the car. Experienced drivers, all of whom have been screened in detail and extensively trained in safety driving, are selected to secure the safety of the passengers. Besides, these drivers possess professional traits such as politeness, calmness, and courtesy. Respecting the passengers’ time and privacy is also imperative in the industry. In overall, punctuality, safety, and trustworthiness are desirable qualities of limo drivers. All conversations and actions in the back of the car remain private and confidential. Thus, you can rest assured that the one driving is more than a normal professional.


3. Prestige

For your guest, being chauffeured in a limo is a sign of visible prestige that cannot be understated, not only because he is riding in a polished car—which is constantly renewed—but also because the car has every comfort thanks to its features.

A local limo service would include every important feature in the vehicle. A limo car rental company will try its best to leave a lasting impression on passengers by walking the extra mile. For instance, there will be added-on features such as availability of iced drinks or beverages, food and music in the car. Moreover, the internal looks of some limo vehicles are well-decorated and aesthetically pleasing.


4. Privacy

Sometimes, you want your ride to be completely private. The limo is spacious and long enough for you or your friends to have some time for yourselves. Unlike a normal car service, the limo service provides a private and comfortable setting for all. Professional limo services have:

  • Drivers who have received confidentiality training
  • Confidentiality procedures for maintaining privacy between passengers and the driver


5. Comfort

All the above benefits mentioned contributed to a limo service being more comfortable than any other car services. A limo service provides reliability, security, privacy and comfort for their passengers. Imagine having a spacious internal car space with comfortable seats in the vehicle. With almost nothing to complain of, a limo service is perfect for anyone. The flawless service makes you want to experience a limo service again.


6. Price

Above all, we understand that a limo service is generally more expensive than any other car rentals. However, a limo handles more than a single service for the passenger. Moreover, it is spacious enough to drive more than 10 passengers. This means that the price can be equally divided among passengers – your friends or family. Most importantly, the car service is cost efficient, as more than one person is paying for the facilities that a limo offers – the price is considerably affordable.


7. Efficiency

Traffic delays, timely detours, and road barriers are obstacles that can be avoided. By using a professional limo service, you get a dedicated staff that is able to track traffic patterns and monitor local traffic reports to make sure that the most efficient route is taken. With a limo service, all you have to worry about is making sure that you have your belongings with you. Every other thing will be handled.

Days like your prom or wedding night only take place once in a lifetime. Therefore, make these events more memorable by gracing them with a limo. One limousine has enough room to hold the bride and her bridal train. It is also large enough for a ladies night out. You are guaranteed of a comfortable ride before and after the event. Additionally, pictures of you arriving in a limousine will look outstanding.

Weigh all the aforementioned benefits against the cost involved in hiring a limo service, and think about what matters to you most. If the benefits outweigh the costs, you know the next thing to do.


Find out about Limo Hiring Service in Singapore

For those individuals who are seeking to find out more about hiring limo services in Singapore, it is important to do some research using an ample amount of time to prevent any possible hiccups. At ETHOZ Group, we provide a wide spectrum of car rental services – all individually customised to suit customers’ unique needs and requirements. You can find affordable limousine service and chauffeur service in Singapore at ETHOZ Group, giving you complete peace of mind for airport transfers and M.I.C.E events such as corporate travel, conventions and roadshows. While ensuring your comfort with our polished fleet that are rigorously revolving around safety and security, we perform detailed background screenings of our drivers and ensure they pass extensive in-house conducted safety training courses prior to assignment.

If you ever need any car rental services or financing solutions in Singapore that provides everything you need, you can take a look at our limo car hiring services or simply reach out to a member of our team at contactus@ethozgroup.com to explore the options available to you.

5 Driving Tips To Keep You Safe On Singapore’s Road

Car safety is often one of the last things most people consider before purchasing a vehicle. Before buckling up your seatbelt for a ride, it is extremely important to keep in mind the importance of safe driving in the road. No one will admit to being a careless driver, but the truth is driving offenses are inevitable. Most of us, at one point or another, are distracted while driving behind the wheel on the road.

As a small country, Singapore is known for its financial and transport stability. However, due to its small island size, the roads are easily cluttered and crowded with cars (which led to the implementation of road tax or ERP). To drive legally in Singapore, you will need a car license. While most locals own a vehicle, others will rent them (drivers under the age of 23 are not allowed to rent a car).

Seeing how there were at least 15 road accidents in the first few weeks of ‘Phase Two’ in Singapore, it seems like many have misplaced the importance of safe driving. In order to better improve the safety of all drivers and passengers, we’ve put together a comprehensive list of safe driving tips to keep you safe on Singapore’s roads.


1. Drive Attentively

It is significant to drive with full attention to avoid possible accidents. Most Singaporeans lead hectic working lives, so it is important to avoid driving while suffering from severe lack of sleep.

If you think you are tired, stressed, or unwell, take a break from driving or drive out to the nearest exit. The chances of you falling sleep are high and driving in such a state is unwise. Driving with zero concentration will affect your judgment and get you behind the steering wheel. Consequently, it will slow down your reaction time and you might experience a blurry vague vision. Thus, driving while being tired is extremely risky and most go into an ‘autopilot’ (dozing) mode when they are too tired.


2. Do Not Use Your Mobile Phones

While a law was passed in 1999 to prohibit the use of mobile phones while driving, some drivers are easily distracted to look at their devices. In fact, more than 8 in 10 Singapore drivers

Inevitably, drivers who use a mobile phone are more prone to crash their vehicle. Mobile devices are one of the biggest distractions as drivers pay full attention to them – taking their hands, mind and vision off the road.

Thus, if you happen to be a passenger in a car with a distracted driver, you need to intervene with the driver to focus on driving safely.


3. Drive at a Safe Speed

One of the first things that cause you to revoke your driving license is the act of speeding. If you were to take a few seconds off the road, you might be in for an unpleasant incident the next moment.

As the terminology suggests, when you drive at high speeds, things can happen a little bit faster than you expect. The faster the vehicle is moving, the longer it takes for it to do your bidding when you apply the brakes. The sheer physics of a collision at high speeds should be enough deterrence. The transfer of energy is immaculate due to higher momentum, which can cause major injuries.

It is always beneficial to drive slowly and pre-empt yourself for any upcoming obstacles while driving. By driving slowly, you can easily control your car to safety when there are obstacles ahead. It gives you more time to react in unforeseeable situations. This also helps you to maintain a safe distance from the car in front.


4. Don’t Drink and Drive

Driving while being drunk is extremely dangerous and drivers with high blood alcohol content are at greater risk of car accidents, injuries and even death. Alcohol is water-soluble and is immediately absorbed in the bloodstream. This causes more blood to be supplied to the brain than to other organs. As a result, it will significantly impair brain function within minutes. This affects one’s attentiveness and cognitive ability to make quick decisions and reactions on the road.

Undoubtedly, drinking can cause an individual to become rather drowsy and sleepy. It affects your ability to make accurate and sensible judgment (basically you have zero sanity when you’re drunk). This is clearly not something desirable as car accidents are highly possible and you might not even reach your destination. Besides getting someone killed or badly injured, one will be charged with heavy penalties for drink driving and lose his/her driving license.


5. Give your Car Regular Check-ups

If you have a car, it can be common to ignore any type of maintenance unless something goes wrong. This is not a good practice and rather, you should regularly check your car – fundamental processes such as changing your oil, checking your tire pressure and getting scheduled inspections will keep your vehicle healthy and workable.

Cars consist of many wear and tear components, such as tyres, brakes, and other small components. Thus, regular check-ups with the car doctor are important to maintain it in control and healthy on the road.

Most car lovers already know how important regular check-ups are, but it’s still important to continue emphasising this factor for people who don’t consider themselves interested in how their car operates. A simple mechanical failure can cause the most cautious driver to get into an accident. This is why you should always keep your car in perfect working condition, for the safety of yourself and other road users.

These driving tips will definitely help to guide you in your driving journey! Henceforth, you can travel in a car safely with your friends and family!

At ETHOZ, you can rent our cars and travel around Singapore safely. Heading for car rental is also a good way to enjoy convenience and safety without the extra commitment of buying your own car.

4 Business Costs You Could Be Saving On in 2020

Every business requires reliable cash flow to stay afloat — especially when times get tough. But choosing where to spend and where to save is a difficult decision for anyone running a business. The coronavirus situation has undoubtedly put a dent on the finances of many businesses which has made it even more important to adopt cost-cutting strategies to control expenditures and maintain positive cash flow.

Identifying non-essential costs and strategically cutting them can help you keep up your profits and prepare for life post-COVID-19. For businesses that are trying to cut expenses to boost your cash flow, here are some business costs you should be saving on to maintain your market presence.

 

 

Reduce Vehicle Expenses

If you are running a business that requires a fleet of vehicles, you should be well aware by now how exorbitant vehicle costs can be. From fuel to servicing costs, especially for larger vehicles, these vehicle expenses can end up affecting your finances greatly if not managed effectively.

 

 

Commercial Vehicle Leasing

One way to reduce vehicle costs would be to not pay in full for the vehicle, to begin with. In other words, you can greatly cut your vehicle costs by engaging in vehicle leasing. Leasing a vehicle comes with certain advantages such as paying fixed monthly costs, leaving the maintenance and repair works to the leasing company as well as the ability to return the vehicles once the leasing period comes to an end.

At ETHOZ, we offer commercial vehicles of all configurations and customisations to meet your unique needs, allowing you to focus on the parts of your business which matters most. If your finances are tight or you are a business that is just starting out, leasing vehicles is a cost-efficient solution that will allow you to have better control of your cash flow. For the month of September, we are having a promotion for one of the top van rental options – NV200 van rental. For more information, drop us an enquiry or call us at 66547788.

 

 

Eliminate non-essential costs

 

Downsizing your office space

With many companies still adhering to work-from-home policies, it might be a good time for companies to assess their current office space to consider downsizing in the interests of cutting costs. If you run a particularly small business, it might be a more economical option to relocate to a smaller office space which will inevitably help you save on rental fees. In addition, with fewer renters seeking commercial spaces for rent at the moment, businesses can use this opportunity to negotiate favorable terms and conditions to be included in their leasing contracts.

Another option small teams can explore would be coworking spaces, which can be a great option to save on administrative costs especially with most of the team working from home indefinitely in many parts of Singapore.

 

 

Look for Alternative Affordable Options

While it is important for businesses to make investments to earn money, the COVID-19 pandemic has taught us that it is always important to have cost-saving strategies in place to survive any unprecedented impact on the economy. For instance, for companies that regularly make wholesale supply purchases, finding the best deals on the supplies you need can help cut supply costs greatly and help you better manage your finances.

Also, since many businesses are unable to accommodate foot traffic in their physical stores, investing in affordable digital sales strategies and moving their sales online could greatly reduce operational costs and engage customers to shop digitally. Seeking such cheaper alternative options can help businesses stay afloat even when the economy has taken a hit.

 

 

Seek Financing Solutions

Another way businesses can save costs is by seeking business financing options that best fit the requirements of your business so that you can enjoy the financial freedom it offers.

For instance, at ETHOZ, we offer a variety of loans ranging from working capital loans to term loans and even renovation loans which can help your business save costs and keep your daily operations running smoothly. Whether you’re looking for a technology upgrade or securing investment for your business, you can obtain easy access to our funds at competitive rates so that you can focus on growing your business.

 

 

Streamline Your Marketing Efforts

If you have yet to analyse and update your marketing mix according to what works, you may find that doing so will help you cut down on your expenditures greatly. For some businesses, you may spend money on different forms of marketing, out of which some of them may not be as effective in delivering the desired results.

Look for the areas of marketing where you have been investing a significant portion of your finances but are not producing results. Once you have identified these areas, looking for alternative and less expensive ways to get your message across can help you cut costs and utilise your marketing budget as effectively as possible.

 

 

Financing Options for Businesses in Singapore 

Running a business successfully during the pandemic can be a challenging and stressful period for many business owners. The challenge for many businesses is finding ways to reduce their costs without lowering the quality of their products or decreasing output

 

 

How Businesses in Singapore Can Prepare for a Post Covid-19 Economy

With most coronavirus restrictions being lifted, businesses are in full swing to reopen and rebuild their operations. Singapore hopes to get its economy back on track after experiencing a  technical recession last quarter due to insufficient external demand and stringent COVID-19 “Circuit Breaker” measures.

Since late 2019, COVID-19 has infected over 4 million people around the world, wiped out hundreds of thousands of lives and crippled global supply chains. In a matter of weeks, industries such as manufacturing, tourism, aviation and many more were adversely hit by the drop in demand as a result of workplace closures and COVID-19 restrictions.

In order to stay relevant in a post-COVID-world, companies must reconsider their current operations and revamp their business models instead of going back to ‘business as usual’. From financing options to operational adjustments, here’s how businesses in Singapore can prepare for a post-COVID-19 economy.

 

 

1. Leverage on Support Programmes

The government and many organisations have rolled out various financing measures and programmes in Singapore with the aim of helping businesses better respond to the pandemic. For instance, at ETHOZ, as part of our Temporary Bridging Loan Programme (TBLP), we’ve collaborated with Enterprise Singapore to give companies access to working capital for their business needs.

Under the TBLP, qualified corporations can receive a loan of up to $5 million with the interest rate capped at 5% per annum. This would mean that businesses will have sufficient funds to invest in inventories, equipment, training programmes and satisfy day-to-day operational costs. To learn more about this, visit Enterprise Singapore website to find out more about the Temporary Bridging Loan Programme (TBLP).

 

 

2. Telecommuting is The New Normal

Many have predicted that telecommuting will last beyond the pandemic, and there are a few reasons why. Research has shown that employees are more positive and productive when telecommuting and working remotely as compared to working from traditional office spaces. Not only does it offer flexibility to employees, but it also reduces commuting time.

However, working from home can be a double-edged sword, given that there are possibilities of cyber threats as cybercriminals know that when more people are communicating online, it’s easier to deceive people to gain access to their private and confidential information. 

To fight cybercrime, businesses should conduct frequent updates, ensuring that operating systems and browsers are up to date with the latest cyber security software. Also, it is necessary to install firmware updates on hardware such as printers to prevent falling for the latest threats. We also strongly encourage businesses to educate and train employees on  the company security policies and how to spot phishing scams.

 

 

3. Put People First

According to COVID-19 Consumer Research, more than 64% of the workforce around the world is experiencing a great sense of fear and anxiety over their personal job security. Thus, companies should constantly seek feedback from employees and offer them a voice to share their concerns and worries.

Companies can consider leveraging on the government measures implemented to help businesses cope with COVID-19 such as sending their employees to government-funded in-house and SkillsFuture courses. These initiatives equip them with relevant knowledge and expertise that will help to enhance their skill set, and give employees a greater sense of confidence as they work through the current economic climate.

 

 

4. Sustaining Cash Flows

According to Harvard Business School, the average small business has sufficient cash reserves to last for only 27 days. Poor cash flows are one of the biggest killers of companies.

To ensure a steady stream of cash flows, the first step is to understand what your current cash flow position is and determine how long your company can operate under such conditions. Next, examine your cost structures and identify the activities and resources that are vital and the ones that are not mandatory in keeping your business running.

Monitoring your accounts receivable and getting your customers’ commitment to the payment date can give you a peace of mind that you’ll receive the payment on time. Other methods of generating revenue include selling unwanted assets to others and forming strategic collaborations with other firms to gain a larger pool of customers and increase sales for both firms.

 

 

Prepare for a Post COVID-19 Economy

While it is challenging to survive post-COVID 19 economy, strategies and actions need to be taken. We hope that this article has helped you generate ideas to prepare for a post-COVID-19 economy. Should you have any enquiries related to financing your business or the Temporary Bridging Programme, do not hesitate to drop us an email at contactus@ethozgroup.com contactus@ethozgroup.com!

 

 

A Beginner’s Guide to Fleet Management in Singapore

If you own businesses in the logistics, construction or food and beverage industries, commercial vehicles are likely to be a pivotal aspect of your daily operations, especially with home deliveries being on the rise in 2020.

However, managing your own fleet of vehicles is not that easy, as there are so many different responsibilities to take care of. Knowing the primary areas of fleet management can go a long way in helping you to handle operations effectively, ensuring safety and better productivity.

Thinking of leasing or buying a fleet? Then keep reading on to discover the 4 fundamental aspects of commercial fleet management.


1. Key Responsibilities

The key responsibilities of a fleet manager fall under five categories:

  • optimising operational costs
  • vehicle upkeep
  • managing drivers and employees
  • keeping everyone safe
  • maximising efficiency

To make sure that expenses are used wisely, one major aspect that fleet managers have to monitor is fuel usage. They also have to scrutinise the history of repairs and maintenance for every lorry and devise contingency plans for possible accidents and breakdowns. What’s more, fleet managers have come up with rules for safety and health and help to plot better driving routes. Fulfilling these responsibilities keeps the business running smoothly.


2. Considering Your Business Needs

When getting a fleet, it is important to consider the kind and amount of vehicles required by your business. For instance, smaller businesses such as florists only need a few lorries. However, bigger businesses that serve a large client base, let’s say a delivery company, may require larger fleets with vehicles that cater to specific factors such as temperature control, depending on the products dealt with.

After that, you need to decide whether to buy or rent the fleet. Making a purchase to acquire full vehicle ownership comes with a hefty price tag and incurs additional potential risks. Instead, we recommend renting commercial vehicles as it offers you increased flexibility and competitiveness.

At ETHOZ, we lease high-quality commercial vehicles of a wide range of configurations and customisations! For business owners looking to optimise their operations in Singapore, renting a fleet from us comes with numerous benefits. Our fleet management gives dedicated support to your fleets and relieves you of the challenges of monitoring the administrative costs and performance efficiency. Additionally, all commercial vehicles leased from us can depend on 24/7 roadside assistance and replacement vehicles when you need it. You also have the freedom of upgrading your vehicles to get the latest available models when you see fit.


3. Getting Drivers

Hiring and training your drivers is the next essential step. When doing so, there are multiple things to assess about their suitability for the role. You need to ensure that they possess a valid driver’s license for the correct vehicle type, be physically and mentally prepared to drive, possess some experience and have no criminal record.

Following that, sending your drivers for training workshops and classes is a great way to improve their skills and remind them of the factors to take note of whilst on the road. As they spend significantly more time driving than people with other occupations, the re-emphasis on safety and knowledge of the latest industry standards will greatly help not only them but also your business. This is because their performance reflects well on the professionalism of the company.


4. Ensuring Safety

Ensuring high standards of safety and risk management is another vital aspect to take into account. Thousands of people are victims of road accidents from distracted driving every year and you do not want anyone in your company to encounter the same fate! On top of the aforementioned training programmes, teaching employees about first aid and the usage of emergency tools will also go a long way.

To further enhance the safety of your employees, you may want to set up company rules such as wearing seatbelts all the time, avoid tailgating and outline specific steps for them to take if their vehicle breaks down.


Managing Your Commercial Fleet

Managing a commercial fleet is definitely challenging, but if you choose the option to rent, car rental companies have experienced fleet management teams to take some of these responsibilities off your hands. At ETHOZ, our professional relationship managers are here to help fulfil every car rental need! We understand that transportation services are important and are more than willing to guide you through the different considerations when it comes to renting and managing commercial fleets.

Long-term vs Short-term Car Rental: Which One is Best for You?

Public transport in Singapore is efficient and convenient and all, but there are times when you’d rather not deal with it. On the other hand, owning a car in Singapore is extremely costly but it provides flexibility and comfort. So how do you get the best of both worlds? The answer is simple, rent a car!

There are many cheap car rentals in Singapore which are becoming increasingly popular due to their affordability as well as convenience, especially as we enter into a post-COVID-19 society. But for those who are unfamiliar with car rentals in Singapore, having to decide between short-term car rental and long-term car rental can be perplexing.

To help you make a better choice between the two, we’ve compiled a list of benefits for both long-term and short-term car rentals so you can easily weigh your options!

 

What’s Your Purpose of Renting a Car?

Before deciding between a short-term and long-term car rental, ask yourself your purpose behind renting a car. If you need a car for a special occasion or just to carry out an ad-hoc task, then we suggest that you take up a short-term car rental. However, if you foresee yourself using the car on a regular basis but do not want to buy one, then a long-term car rental option will work best for you.

If you’re having trouble deciding between the rental packages, our team of professionals at ETHOZ are more than willing to help you assess your needs and advise you the car rental package that best suits your lifestyle!

 

Pros of Long-Term Car Rental

Save Time on Car Repair and Maintenance

One of the great things about long-term car rental is that you do not have to worry about regular maintenance and servicing of the car. Just leave it to the experts who will be handing your rented car to you. This is especially useful for expats who may be new to Singapore, and need that extra assistance in these areas!

At ETHOZ, we believed in providing you with assistance whenever and wherever you need. Just drop us a call to inform us the time and location to have your car picked up and we will take care of the rest hassle-free. In the event of a breakdown or an accident, a free replacement car can be provided to ensure that you will never be inconvenienced.

 

The Cost-Effective Option

Contrary to popular belief, long-term car rental can actually be more cost-effective than the short-term alternative. If you were to break down the daily expenses incurred for renting a car in long-term as compared to short-term, you’ll realise that the prior is more affordable and worth it. If you need to travel frequently, why not just settle for a long-term car rental package instead of taking up multiple short-term car rental packages?

At ETHOZ, we offer monthly and yearly car rental packages which include an extensive range of cars at affordable prices — from economical hatchbacks to MPVs, SUVS to luxurious executive sedans. If you’re interested in long-term car rental packages, do not hesitate to drop us an email at contactus@ethozgroup.com.

 

Car Rental for Expats

As we mentioned earlier, if you’re an expat who will be working in Singapore for months or even years, purchasing a car here may not be an ideal choice, so why not rent a car instead? Having a car makes commuting to work or school, running errands, and going for excursions more convenient and less troublesome.

Most importantly, you don’t need to tie yourself down if you’re unsure of the duration you’ll be living here. Since we offer monthly and yearly car rental packages, you’ll have the flexibility to select the rental duration that works best for you.

For locals who want the same amount of freedom and flexibility, rental is also an extremely cost-effective option as you get to enjoy low upfront payments, and enjoy the extra maintenance support it comes with as well.

 

Pros of Short-Term Car Rental

Greater Flexibility

With short-term car rental, you’ll be spared the tremendous costs associated with owning a car, while enabling you to still enjoy the benefits that come with driving whenever you need it. There are many occasions where a car can come in handy — Chinese New Year, Hari Raya, Deepavali, Christmas, birthdays, and the list goes on.

Whether you’ve friends visiting you from overseas or you’re travelling with your family during festive occasions, it would have been much more convenient and enjoyable travelling around if you’ve got a private vehicle.

Furthermore, ETHOZ Group offers a wide range of cars that are all comprehensively insured so you don’t have to get too anxious over it.

 

Greater Freedom of Choice

If you’re unsure of which car to get, then we suggest you opting for short-term car rental instead. Given that short-term car rental can be in the form of a weekend, weekday or weekly basis, you won’t have to worry about being tied down by the car especially if you’re not really fond of it.

Short-term car rental comparatively gives you greater freedom in exploring different car options and getting a feel of them to understand which caters to your needs and comfort the best. Once you’ve made a decision, you can switch over to long-term car rental with the car of your choice.

 

Rent a Car with ETHOZ

We hope that the article provides you with a deeper understanding of the differences between long-term and short-term car rentals. ETHOZ offers a wide range of vehicles to cater to every need — from economical hatchbacks to MPVs, SUVs to executive sedans.

Additionally, ETHOZ provides 24/7 roadside assistance to affirm our customers that we’re always ready to help them, whenever and wherever they are. Do not hesitate to reach out to our qualified team of experts by dropping us an email at contactus@ethozgroup.com to learn more about the car rental packages that we offer!

How Leasing & Hire Purchase Can Improve Your Business Operations in 2020

Many companies in Singapore are struggling to find the capital to purchase equipment necessary for their business operations to continue functioning at optimal capacity, especially with the global economy in its early stages of recovery due to the coronavirus.

An increasing number of businesses in Singapore are turning to alternative methods such as equipment leasing or hire purchase. In essence, these methods help businesses acquire equipment that would normally be too expensive to buy with cash. In this article, we will be covering some of the ways an equipment leasing and hire purchase can help you finance your business and ride out this rough economic patch.

 

 

The Difference Between Equipment Leasing and Hire Purchase

Both equipment leasing and hire purchase are great ways to finance your business’ need for new or improved equipment. Opting for either one has its own major benefits but what’s the main difference?

Essentially, leasing allows you to rent an asset for a specific period of time for an agreed fee. At the end of your lease agreement, you will have to return the equipment to your rental company in its original condition or risk paying extra fees.

Alternatively, hire purchase allows you to purchase and use expensive pieces of equipment without incurring a major outflow of cash. You will have to make an initial down payment, followed by monthly payments for a fixed time period. After all the repayments are made at the end of the period, you will have the option to own this asset.

Now that you know the difference between the two options, let’s explore how you can use these methods to improve your business operations.

 

 

Buy New Equipment or Repair Existing Equipment

Even if your business is well-established, you may not wish to spend a large portion of your revenue on equipment as preserving working-capital is vital in paying off short term expenses and debts.

Depending on the specific needs of your business, having money on-hand can significantly improve your company’s level of productivity, whether you have faulty equipment at hand that needs repairing, or a need to upgrade your equipment to expand your business. The purchase of new equipment can be helpful for your business if it improves processes and increases competitiveness in your industry by meeting consumer demands.

Conversely, if a piece of equipment that’s crucial to your daily operations needs repairing, opting for leasing alternatives can also be exceptionally helpful in reducing downtime, and any related financial losses from the equipment breakdown for the time being.

At ETHOZ, we have your best interests at heart. Aiming to preserve your cash flow and improve your business, we provide equipment leasing and hire purchase at affordable rates that are easy to obtain. That way, you can finance your purchases with low or no downpayment, freeing you to focus on growing your business and using your working capital for other pressing needs.

 

 

Invest in Small Pieces of Technology

With the right financing, you will have the ability to invest in equipment that will not only increase the level of efficiency in your business but create better customer experiences, which will aid in forging better relationships with your customers and employees.

Instead of financing major operational upgrades, you may want to consider investing in smaller pieces of technology that will have an impact on customer satisfaction, which will ultimately improve business performance.

For example, if you own a business in the F&B industry, you could invest in tablets to provide customers with a more efficient method of ordering, and at the same time ease the workload of your employees. The tablets can also be used as an effective way to get customers to leave feedback or reviews, which will be a great avenue for you to develop some ideas on how you can improve your business to establish brand loyalty and generate greater revenue in the future.

 

 

Go Green: Utilise Energy-Efficient Equipment and Appliances

Having an environmentally-friendly business can be an effective method to save costs in the long-run, ultimately allowing you to run a cost-effective business.

There are a few easy ways to go green when you look into leasing or hire purchase of your new equipment. You can invest in energy-efficient equipment and appliances such as air-conditioning facilities which will help save money on energy costs.

Another way to save on electrical bills is to install energy-saving features like motion sensors around your workplace which will detect when people are present, managing the use of electrical appliances at your place of business without you having to worry about wastage. If your place of work is an office, you may also consider switching to laptop computers as they are generally more efficient and use 80% less energy than desktop computers.

Moreover, owning a green business also comes with attractive tax incentives. If you’re interested in finding out more about how you can use equipment leasing or hire purchase to invest in energy-saving equipment at your workplace, feel free to consult our professional relationship managers at ETHOZ. With the right plan, we can help you make a lasting impact on your business using equipment financing.

 

 

Finance Your Business in Singapore

If you’re short on funds but in need of new machinery and equipment, ETHOZ provides the solution to all your equipment financing needs. Ease your mind and finances with us as we provide you with attractive equipment leasing and hire purchase packages that will help you take your business further.

Our professional relationship managers that are ready to take your call are also well-qualified and trained to make the process as hassle-free and convenient for you. Contact our team at 66547799 or drop us an email at contactus@ethozgroup.com today!