SME Grants In Singapore - Learn The Types & Glance Through Our Proposal
Covid-19 disrupted everything, including the small and medium-sized enterprises in Singapore, to a large extent. The lockdowns, travel restrictions and various other things created unnecessary disruption for many of these SME company owners. And if not for the availability of various SME grants in Singapore, a huge number of these companies would cease to exist. Thanks to the active role played by the Singapore government and multiple organisations, SME’s were able to sustain their business operations even during these unprecedented times.
So are you seeking to apply for one of the SME grants for your own company and in need of some proper and professional guidance? You should hire our business management consulting services as we specialise in grant consulting for small and medium-sized enterprises. Just one call, and our expert consultants will start working on your project. We will leave no stone unturned to help you clinch that SME grant that will help expand your business or, even better, take it to overseas markets.
Types Of SME Grants In Singapore & How We Can Help You Become Eligible For Them
Open up new gates for your company and let it thrive in this global economy. Singapore SME grants are designed to help companies expand their business through various fundings, grants and subsidies. And your company doesn’t particularly have to be 100% local. That’s the best part about applying for these SME grants in Singapore. However, a few grants are only given to companies that are entirely based in Singapore.
Business Grants will surely help you clinch that funding so your organisation can take the new step in its journey. Our consultants work over and beyond to assess your business needs, existing eligibility and draw a roadmap accordingly. So you can do a few tweaks here & there and beat the competition for various SME grants in Singapore.
Enterprise Development Grant:
If your company wants to upgrade the business or venture overseas or try something innovative in its expansion, this is the right SME Grant for your organisation. Our consultants will help you secure this grant as it covers 80% of the qualifying project cost for your company.
Startup SG Equity Programme:
The Singapore government invests indirectly (through 3rd party investors) into startups that show global market potential and has intellectual property to their name.
Land Productivity Grant (LPG):
Companies that have a solid plan to relocate their domestic or foreign plants in Singapore can apply for this specific SME Grant. In this, you shall receive anywhere between 10-70% of the qualifying costs in the form of SME grants.
Productivity Max:
Many companies are looking to revamp and rebuild their organisation’s core. This kind of SME grant in Singapore helps companies support their efforts in recruiting, providing training and managing their newly hired upper-level employees. Such funding will help you train them better, yield excellent efforts, and retain them for the long run!
Jobs Support Scheme:
As mentioned earlier, the pandemic has hit almost every strata of the social and economic sections in the country. And usually, during such periods, job loss and unemployment is common and usually skyrockets quickly if not for these SME grants in Singapore. A Jobs Support Scheme will grant your funding so that you can retain employees at your company.
We believe that by now, you may have grasped the concept of SME grants in Singapore. That being said, there are many other Singapore government initiated SME grants as well. And you can come to Business Grants and learn everything about them in detail!
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It’s Your Call, Secure That SME Grant Today!
Yes, we know that the competition for these government-funded grants is enormous and, at times, overwhelming. But with the proper guidance behind your application, your organisation can surely stand out amongst the competition. We pack years of experience and highly talented consultants to deliver optimal results for your company. Business Grants follow a systematic approach to help you receive one of the SME Grants in Singapore.
Are you interested in knowing a few things about this approach? Then keep reading till the end!
Why Choose Business Grants For Your SME’s Prospects?
- Our team will carry out a full-fledged assessment of your organisation to determine the current eligibility status for these SME grants.
- We will then propose a plan for your company to start making some changes in and around your organisation.
- In case you need assistance, we can help you with some competent service providers too.
- We will periodically review the set plan and make changes on the go!
Our consulting charges are reasonable, and you can enquire about our services on the call. So, dial our number today!
Frequently Asked Questions
On October 25 2018, the Enterprise Development Grant (EDG) was introduced. EDG's initiative helped businesses improve their overall competencies, capacity, adoption of innovative approaches and expansion plans. EDG allows SMEs to get up to 80% financing for eligible and qualifying projects.
To be eligible for the EDG, businesses are required to be:
- Be a registered and operating business in Singapore.
- Has a minimum of 30% local ownership is required.
- Be in a financial position to begin and complete the project.
Enterprise Singapore and EDG application will evaluate applications based on project scope, project outcomes, and service provider expertise. Click here to check your eligibility.
Enterprise Singapore will generally provide indications and comments on an Enterprise Development Grant (EDG) application status within 2 to 2.5 months after submission. In some circumstances, the procedure may take longer if the application lacks clarity and requires further project explanation and clarification.
Eligible Small and Medium Enterprises (SMEs) can receive a grant of up to 80% of qualifying expenditures. There is, technically, no limit or cap on the grant amount. However, in most situation, the amount is directly proportional to the business's annual revenue.
- Select and hire our qualified & certified management consultants.
Our consultants will perform a preliminary assessment of your business. - After completing the preliminary audit of your business, our consultants will collaborate with you to develop the project application and proposal detailing the scope of work.
- Our consultant will provide assistance in filling out the Enterprise Development Grant (EDG) application form and submit it through the Business Grant Portal.
- Upon receiving a reply and EDG confirmation, our consultants will begin working with you on the project.
Subjected to further documentation request, the list of documents to prepare are as follow:
- Latest ACRA Business Profile
- Audited Financial Statement or Management of Accounts
- Proof of Quotation of proposed project items from vendors
- Project proposal
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