SME GRANTS

SME GRANTS

SME Grants

Since the Covid-19 pandemic hit the global economy, the Singapore  Government has been offering several support schemes for local businesses to tide them through these tough times.


Small and Medium-sized Enterprises (SMEs) are an essential part of Singapore's economy - they form 99% of all enterprises, and employ over 72% of our local workforce. Read on for the 3 most common support grants.

Since the Covid-19 pandemic hit the global economy, the Singapore Government has been offering several support schemes for local businesses to tide them through these tough times.

Small and Medium-sized Enterprises (SMEs) are an essential part of Singapore's economy - they form 99% of all enterprises, and employ over 72% of our local workforce. Read on for the 3 most common support grants.

How to apply? 

Many Enterprise Singapore managed support schemes, including the Enterprise Development Grant (EDG), require the Enterprise to appoint and work with an Enterprise Singapore-recognised consultant. Enterprise Singapore-recognised consultants are professionals certified by three certification bodies specifically appointed to help businesses select management consultants in their business upgrading journey.

This certification recognises management consultants who possess the right knowledge, competence, and ethics to support businesses in their projects and growth strategies.
The consultant will assist the Enterprise to scope the upskill and upgrading project, advise in selecting and applying for the relevant support grant and provide consultancy in the project.

How to apply?

Many Enterprise Singapore managed support schemes, including the Enterprise Development Grant (EDG), require the Enterprise to appoint and work with an Enterprise Singapore-recognised consultant. Enterprise Singapore-recognised consultants are professionals certified by three certification bodies specifically appointed to help businesses select management consultants in their business upgrading journey.

This certification recognises management consultants who possess the right knowledge, competence, and ethics to support businesses in their projects and growth strategies.
The consultant will assist the Enterprise to scope the upskill and upgrading project, advise in selecting and applying for the relevant support grant and provide consultancy in the project.

Speak to our Enterprise Singapore-recognized Consultant to find out
which grant, or support scheme best suit your Enterprise now!

Speak to our Enterprise Singapore-recognized Consultant to find out which grant, or support scheme best suit your Enterprise now!

No.1: Enterprise Development Grant (EDG)

This grant is for SMEs looking to upskill their enterprise in either of these 3 pillars:
Core Capabilities, Innovation and Productivity, and Overseas Market Access

GRANT AMOUNT

The maximum support level for this grant has been raised to 80% from 1 April 2020 to 30 September 2021. For enterprises that are most severely impacted by COVID-19, the maximum support level may be raised to 90% on a case-by-case basis until 31 December 2020.

WHAT DOES IT COVER?

The grant funds qualifying project costs namely third-party consultancy fees, software and equipment, and internal manpower cost.

No.1: Enterprise Development Grant (EDG)

This grant is for SMEs looking to upskill their enterprise in either of these 3 pillars:
Core Capabilities, Innovation and Productivity, and Overseas Market Access

GRANT AMOUNT

The maximum support level for this grant has been raised to 80% from 1 April 2020 to 30 September 2021. For enterprises that are most severely impacted by COVID-19, the maximum support level may be raised to 90% on a case-by-case basis until 31 December 2020.

WHAT DOES IT COVER?

The grant funds qualifying project costs namely third-party consultancy fees, software and equipment, and internal manpower cost.

3 CORE PILLARS

CORE CAPABILITIES

INNOVATION
& PRODUCTIVITY

MARKET ACCESS

Branding

Business Strategy

Financial Management

Human Capital 

Service Excellence

Automation

Product Redesign

Product Development

M & A 

Overseas Marketing Presence (OMP)

Pilot Projects & Test Biddings 

Standards

3 CORE PILLARS

CORE CAPABILITIES

Branding

Business Strategy

Financial Management

Human Capital 

Service Excellence

INNOVATION
& PRODUCTIVITY

Automation

Product Redesign

Product Development

MARKET ACCESS

M & A 

Overseas Marketing Presence (OMP)

Pilot Projects & Test Biddings 

Standards

No.2: Market Readiness Assistance Grant (MRA)

This grant is for Locally incorporated businesses looking to enter a new foreign market.
Applicant who has more than $100,000 in overseas sales in each of the last three.

GRANT AMOUNT

Up to 70% of eligible costs, capped at S$100,000 per company per new market* from 1 April 2020 to 31 March 2023. 
Note: The MRA Grant support level of up to 70% has been extended until 31 Mar 2023.

WHAT DOES IT COVER?

MRA covers activities scoped under these 3 categories:
• Overseas market promotion (capped at S$20,000)
• Overseas business development (capped at S$50,000)
• Overseas market set-up (capped at S$30,000)

No.2: Market Readiness Assistance Grant (MRA)

This grant is for Locally incorporated businesses looking to enter a new foreign market.
Applicant who has more than $100,000 in overseas sales in each of the last three.

GRANT AMOUNT

Up to 70% of eligible costs, capped at S$100,000 per company per new market* from 1 April 2020 to 31 March 2023. 
Note: The MRA Grant support level of up to 70% has been extended until 31 Mar 2023.

WHAT DOES IT COVER?

MRA covers activities scoped under these 3 categories:
• Overseas market promotion (capped at S$20,000)
• Overseas business development (capped at S$50,000)
• Overseas market set-up (capped at S$30,000)

No.3: Productivity Solutions Grant (PSG)

This grant is crafted for companies looking to kick-start their adoption of technology with pre-qualified IT solutions and equipment that enhances productivity.

GRANT AMOUNT

Up to 80% on qualifying costs including purchase/lease/hire cost of the pre-approved equipment or pre-approved IT solution packages.

WHAT DOES IT COVER?

Sector-specific Pre-scoped IT solutions from Pre-Qualified vendors and hardware equipment that aims to improve productivity of the SMEs.

No.3: Productivity Solutions Grant (PSG)

This grant is crafted for companies looking to kick-start their adoption of technology with pre-qualified IT solutions and equipment that enhances productivity.

GRANT AMOUNT

Up to 80% on qualifying costs including purchase/lease/hire cost of the pre-approved equipment or pre-approved IT solution packages.

WHAT DOES IT COVER?

Sector-specific Pre-scoped IT solutions from Pre-Qualified vendors and hardware equipment that aims to improve productivity of the SMEs.

Qualifying Criteria:

- Be a registered business and operating in Singapore
- Have a minimum of 30% local shareholdings
- Be in a feasible financial situation to start and complete the project.

Qualifying Criteria:

- Be a registered business and operating in Singapore
- Have a minimum of 30% local shareholdings
- Be in a feasible financial situation to start and complete the project.

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      GET IN TOUCH

      EMAIL US AT

      info@visualstudio-asia.com

      VISUAL STUDIO SINGAPORE (HQ)
      9 Kaki Bukit Road 2,
      03-27/29, Singapore 417842
      Phone : +65 6741 7282
      Fax : +65 6741 0086

      VISUAL STUDIO INDONESIA
      Concrete Coworking Space Suite 16, Jl. Pluit Timur Raya No.17, Pluit, Jakarta Utara, DKI Jakarta 14450
      Phone: +62 21 6621 868

      VISUAL STUDIO MANILA
      40th Floor, PBCom Tower, 6795 Ayala Avenue corner Rufino St, Makati City 1226 Philippines
      Phone: +63 917 714 8339

      VISUAL STUDIO CHINA
      Unit 102, Building No.77, No.185 Quankou Road,  Shanghai 200336
      Phone: +86 135 01851562

      GET IN TOUCH

      EMAIL US AT 

      info@visualstudio-asia.com

      © Copyright 2020. All Rights Reserved.

      VISUAL STUDIO SINGAPORE (HQ)
      9 Kaki Bukit Road 2, 03-27/29,
      Singapore 417842
      Phone : +65 6741 7282
      Fax : +65 6741 0086

      VISUAL STUDIO MANILA
      40th Floor, PBCom Tower, 6795 Ayala Avenue corner Rufino St, Makati City, 1226 Philippines
      Phone: +63 917 714 8339

      VISUAL STUDIO INDONESIA
      Concrete Coworking Space Suite
      16, Jl. Pluit Timur Raya No.17, Pluit,
      Jakarta Utara, DKI Jakarta 14450
      Phone: +62 21 6621 8689

      VISUAL STUDIO CHINA
      Unit 102, Building No.77, No.185
      Quankou Road, Shanghai 200336
      Phone: +86 135 01851562

      VISUAL STUDIO SINGAPORE (HQ)
      9 Kaki Bukit Road 2, 03-27/29,
      Singapore 417842
      Phone : +65 6741 7282
      Fax : +65 6741 0086

      VISUAL STUDIO MANILA
      40th Floor, PBCom Tower, 6795 Ayala Avenue corner Rufino St, Makati City, 1226 Philippines
      Phone: +63 917 714 8339

      VISUAL STUDIO INDONESIA
      Concrete Coworking Space Suite
      16, Jl. Pluit Timur Raya No.17, Pluit,
      Jakarta Utara, DKI Jakarta 14450
      Phone: +62 21 6621 8689

      VISUAL STUDIO CHINA
      Unit 102, Building No.77, No.185
      Quankou Road, Shanghai 200336
      Phone: +86 135 01851562

      © Copyright 2020. All Rights Reserved.

      © Copyright 2020. All Rights Reserved.