Singapore Government Grants for local companies
We list some of the Enterprise Singapore grants available for local enterprises.
| Name of Grant for Singapore local companies | Who is it for | Some further information | Eligibility |
|---|---|---|---|
| Productivity Solutions Grant (PSG) | For companies looking to kick- start their adoption of technology with pre-qualified IT solutions and equipment that enhances productivity. | 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. The maximum funding support level will be raised to 80% from 1 April 2020 to 31 | SMEs can apply for PSG if they meet the following criteria: -Registered and operating in Singapore - Purchase/lease/ subscription of the IT solutions or equipment must be used in Singapore -Have a minimum of 30% local shareholding; with Company's Group annual sales turnover less than S$100 million, OR less than 200 employers (for selected solutions only) |
| December 2020. | |||
| Market Readiness Assistance (MRA) Grant | For companies looking to take their business overseas. Includes support for overseas market set-up, identification of overseas business partners and overseas market promotion. | Eligible SMEs will receive the following support: -Up to 70% of eligible costs, capped at S$100,000 per company per new market* from 1 April 2020 to 31 March 2023 that covers: -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) -Each application is limited to one activity in a single overseas market (e.g. market entry, or participation in a trade fair) | Companies should meet the following criteria: -Business entity is registered/incorporat ed in Singapore -New market entry criteria, i.e. target overseas country whereby the applicant has not exceeded S$100,000 in overseas sales in each of the last three preceding years -At least 30% local shareholding -Group Annual Sales Turnover of not more than S$100 million; OR Company's Group Employment Size of not more than 200 employees |
| Enterprise Development Grant (EDG) | For companies looking for more support | The grant funds qualifying | To qualify for the EDG, you need to: |
| as they undertake deeper transformation in business upgrading, innovation and internationalisa tion. | project costs namely third party consultancy fees, software and equipment, and internal manpower cost. The maximum support level will be raised to 80% from 1 April 2020 to 31 December 2020. | -Be registered and operating in Singapore -Have a minimum of 30% local shareholding -Be in a financially viable position to start and complete the project | |
| Land Productivity Grant (LPG) | For companies looking to defray part of the initial relocation cost due to land use optimisation. | Funding support for approved projects will be between 10% and 70% of the qualifying costs, and is dependent on the amount of land freed up and the remaining lease term. Qualifying costs include: -Relocation costs (i.e. physical movement of existing plant & machinery to new site. Exclude cost of asset acquisition in | Local and foreign enterprises can apply for LPG if they meet the following criteria: -Company has to be physically present and registered in Singapore -Company has to be currently situated on industrial land -For overseas relocation, company must demonstrate strong linkages from the relocated activities to the activities carried out in Singapore -Company must generate a minimum of 0.1 hectare (ha) of land savings |
| equipment, machinery, land, building and taxes and levies paid to foreign or local government) -Third-party consultancy fees for market and location feasibility studies as well as work flow redesign. -Manpower cost of project manager or Singapore- based staff posted to the overseas site to oversee training of local labour and new facility setup. | |||
| SkillsFuture Enterprise Credit (SFEC) supports: 1.https://www.enterprisesg.gov.sg/financ ial-assistance/grants/for-local- companies/enterprise-development- grant 2. https://www.enterprisesg.gov.sg/non- financial-assistance/for-singapore- companies/growth-partnership- programme/enterprise-leadership-for- transformation 3. https://www.enterprisesg.gov.sg/financia l-assistance/grants/for-local- | For companies looking to embark on enterprise transformation and develop capabilities of employees. | Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out- of-pocket expenses on qualifying costs for supportable initiatives, over and | Qualifying Periods -1 April 2019 – 31 March 2020 -1 July 2019 – 30 June 2020 -1 October 2019 – 30 September 2020 -1 January 2020 – 31 December 2020 |
| companies/market-readiness-assistance- grant 4.https://www.enterprisesg.gov.sg/financ ial-assistance/grants/for-local- companies/productivity-solutions-grant 5.https://www.stb.gov.sg/content/stb/en /assistance-and-licensing/grants- overview/business-improvement-fund- bif.html 6. http://www.caas.gov.sg/who-we- are/areas-of-responsibility/developing- the-industry/aviation-development-fund | above the support levels of existing schemes. |
Source: Enterprise Singapore