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Lock+Store in Channel News Asia

In News flash on March 12, 2013 by Lock+Store Tagged: , , , , , , , ,

Lock+Store was featured in yesterday evening’s Channel News Asia, in the wake of the Ministry of Trade and Industry’s announcement to boost SMEs’ productivity.  Here’s an excerpt of their interview with our CEO Ms Helen Ng (Source: channelnewsasia.com):

“Storage company Lock + Store currently has two offices in Singapore and is set to open a third next month.

With the push for entrepreneurship, Lock + Store has seen its take-up rate rising 10 per cent per year over the last three years.

This, as more online entrepreneurs look for space to store their inventories.

CEO of Lock + Store, Helen Ng said: We applied for the PIC (Productivity and Innovation Credit) when we first took over the business in 2010. I just wanted to get the business to be more productive. I wanted to release my staff from sitting behind the counter to be able to go out and seek new customers. And everybody was given a laptop so all the information about the units, the marketing information was there and they could go out and seek new customers. On top of that, we improved our business process by investing in new management software, and the PIC helped us out quite a bit. The new PIC measures will incentivise us to find new ways to see how we can streamline our work processes and streamline our work environment and see if we can do the same job but with less people.

Previously, a beneficiary of the government’s Productivity and Innovation Credit scheme, the company is not content on staying local.

Ng said: “We improved our business process by investing in new management software, and the PIC helped us out quite a bit. We have plans to go overseas and if we could get any kind of assistance or market studies or understand more of the local market purchasing pattern, or even the rules or regulations, that would be very helpful for us.”

In fact, the company has plans to venture into China, Hong Kong, Malaysia and Indonesia over the next two years.

Ng said: “The major challenge for us in this industry and probably for a lot of SMEs is labour. We are a small company. Fresh graduates may not want to join us because they don’t see us as glamourous and locals are not as willing to work in a logistics or warehousing industry. At the same time, foreign labour quota is reduced; S pass levy has increased so we’ll see increased manpower cost. It’s not easy for us to hire foreign workers either because we need to ensure they speak the language. All my employees are still local and I’m looking to expand into the west but I’m having difficulties hiring.””

 

 

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