Business Grant You Must Know

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What Qualify As An SME In Singapore?

1. Being registered and operating in Singapore

2. Having a minimum of 30 per cent local shareholding

3. Having no more than 200 workers in total OR a company’s group annual sales turnover under S$100 million.

Types of grant

1. Productivity Solutions Grant (PSG)

-grant when adopting IT solutions to improve and automate existing processes. (up to 80%)

Technology is not about fancy and expensive high-end solutions. You can kick-start your technology journey by taking simple steps to automate existing processes and improve productivity. The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.

For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.

2. Enterprise Development Grant (EDG)

-projects should explore new areas of growth or look to enhance efficiency. These include reviewing and redesigning workflow and processes beyond sales and accounting.

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars:

1. Core Capabilities

Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting.

1. Innovation and Productivity

Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency, or optimise resource usage to improve their sustainability performance. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient and sustainable.

1. Market Access

Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets.

3. International Co-Innovation Programmes

-Singapore has programmes with the EUREKA network, France, Germany, Israel and Shanghai. These programmes are suitable for companies that are keen to work on joint innovation projects with companies in the respective countries.

4. Startup SG Founder

-Teams of entrepreneurs with business ideas can approach any Enterprise Singapore-appointed Accredited Mentor Partners (AMP) in the “Start” track. The AMPs will then select applicants for funding support. Capital grant of S$50,000 co-commit at S$10,000.