Government Grants & Schemes for SMEs

SMEs may reference for the available list of Government Grants and Schemes provided for Singapore SMEs. If you are unsure of which grants or scheme that your business is eligible for, you may schedule a visit at our SME Centre for further assistance.

List of most adopted Government Grants & Schemes by SMEs:
Enterprise Development Grant
Administered by: Enterprise Singapore

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
  2. 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.

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

  5. Market Access
  6. 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.

As of 30 December 2020, Overseas Marketing Presence (OMP) will be supported under the Market Readiness Assistance Grant (MRA). Please refer here for more details.

What does the EDG support?

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

As announced at Budget 2021, the enhanced maximum support level of up to 80% will be extended from 30 September 2021 to 31 March 2022.

Who can apply?

To qualify for the EDG, you need to:

  • Be a business entity registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

Applications will be assessed by Enterprise Singapore based on project scope, project outcomes and competency of service provider.

Eligible employers who fulfil the following criteria can also qualify for additional subsidies under the SkillsFuture Enterprise Credits (SFEC) scheme:

  • Have contributed at least S$750 Skills Development Levy over the qualifying period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified for SFEC at any of the earlier periods

Find out how to apply for the EDG.

Business Improvement Fund (BIF)
Administered by: Singapore Tourism Board

The Business Improvement Fund (BIF) aims to encourage technology innovation and adoption, redesign of business model and processes in the tourism sector to improve productivity and competitiveness.

ELIGIBILITY CRITERIA

The BIF is open to all Singapore-registered businesses/companies embarking on projects with a clear tourism focus.

These companies are:

  1. 1. Tourism companies taking on capability development initiatives
  2. 2. Technology companies that create innovative technology products and services for tourism businesses.

​Aligned to Enterprise Singapore's Enterprise Development Grant (EDG), the BIF supports projects that help tourism companies to upgrade the business or innovate, under two pillars:

​​​A. Core Capabilities

Projects under Core Capabilities help companies prepare for growth and transformation by strengthening their business foundations.

  • ​Business Strategy Development
  • Financial Management
  • Human Capital Development
  • Service Excellence
  • Strategic Brand and Marketing Development

B. Innovation & Productivity

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

  • ​Automation
  • Process Redesign
  • Product Development
GRANT SUPPORT

Funding support varies for Small Medium Enterprise (SME)[1] and non-SME.

Successful applicants will receive funding support for qualifying costs, subject to STB's evaluation of the scope and merits of the project.

[1] At least 30% local (Singaporean or Singapore Permanent Resident) shareholding, and group annual sales turnover not more than S$100 million or group employment size not more than 200 employees.

Qualifying Costs

Include third-party project-related costs such as professional services, testing and certification costs associated with the development of the solution and delivery of products, processes, and services meeting the desired standards, training costs that are an intrinsic component of the project, hardware/equipment and software associated with proposed business concept or system/process redesign, and travel costs associated with the project; and internal manpower cost (only applicable for Innovation & Productivity - Product Development).

Non-Qualifying Costs

Include hardware/equipment and software costs not related to the project (e.g. solutions for basic business functions), maintenance costs and marketing costs.

APPLICATION EVALUATION

Proposed projects will be assessed on how they improve productivity and competitiveness of tourism companies.

APPLICATION PROCESS

Please note that projects that have commenced prior to STB’s offer of the grant may not be eligible.

Step 1: Pre-Application

a. Interested applicants are advised to declare if they are SME or non-SME and provide an executive summary of the proposed project to STB_Incentives@stb.gov.sg. (Download executive summary template here.)

b. An STB officer will be in touch to assist you further.

c. The STB officer in-charge of your project will advise if your proposed project is eligible for BIF support and to proceed with the application.

Step 2: Application

a. Prepare the project proposal for submission with your application. (Download project proposal template here.)

b. Prepare the relevant quotations for cost items for submission with your application.

c. Log on to the Business Grants Portal (BGP) with your CorpPass to apply for BIF.

d. With complete information on hand, it should take about 30mins to complete the online application.

e. Please note that all applications are subject to STB’s approval.

DISBURSEMENT OF GRANT

Grants will be disbursed to successful applicants on a reimbursement basis, subject to achievement of the agreed project deliverables and milestones. Applicants are required to submit third-party audited documents on qualifying costs for the disbursement of grants, unless otherwise stated.​

CONTACT INFORMATION

For more information or queries on the grant scheme, you may contact the STB Incentive Policy Department at STB_Incentives@stb.gov.sg.

For any feedback or suggestions, you may email the Quality Service Manager at STB_QSM@stb.gov.sg or leave your message here.

Digital Resilience Bonus
Administered by: Infocomm Media Development Authority; (IMDA)Enterprise Singapore

Digitalisation is a key enabler for businesses to improve their competitiveness and productivity, so that they can emerge stronger. It will also help businesses to be more resilient and adapt to new post-COVID norms.

The Digital Resilience Bonus (DRB) aims to uplift the digital capabilities of a broad base of enterprises in the Food Services and Retail sectors, which are more affected by safe distancing requirements in the reopening of the economy.

The DRB is given on top of enhanced digitalisation assistance provided under the SMEs Go Digital programme. Food Services and Retail enterprises that have PayNow Corporate accounts without suffix, e-invoicing, and use pre-defined categories of digital solutions for Business Processes, Digital Presence and Data Mining and Analytics can receive bonus payouts of up to $10,000. Download the DRB e-brochure here (2.56MB).

For more information, SMEs may visit the Digital Resilience Bonus's website through IMDA at https://www.imda.gov.sg/programme-listing/smes-go-digital/Digital-Resilience-Bonus

Market Readiness Assistance (MRA)
Administered by: Enterprise Singapore

Small and medium enterprises (SMEs) will receive an international boost with the Market Readiness Assistance (MRA) grant to help take your business overseas.

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)

Note: The MRA Grant support level of up to 70% will be extended until 31 Mar 2023.

As announced at Budget 2021, the maximum support level of up to 80% will be extended for 6 months, until 31 March 2022. MRA will also be enhanced to include Trade Credit Insurance (TCI) as a supportable area under the overseas market set-up pillar with effect from 1 April 2021.

Who can apply?

Companies should meet the following criteria:

  • Business entity is registered/incorporated 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

Click here for full list of supportable activities.

Eligible employers who fulfil the following criteria can also qualify for additional subsidies under the SkillsFuture Enterprise Credits (SFEC) scheme:

  • Have contributed at least S$750 Skills Development Levy over the qualifying period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified for SFEC at any of the earlier periods
Pre-application

Please note that retrospective applications will not be accepted. An application will be deemed retrospective only if any of the following events took place before the application date:

  • Signed an engagement letter with the third-party consultant
  • Made the first payment to the third-party consultant
  • Commenced the project with the third-party consultant

Companies must submit your applications no earlier than six months of project start date.

Application

Please apply through the Business Grants Portal.

SkillsFuture Enterprise Credit (SFEC)
Administered by: Enterprise Singapore

The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their 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 above the support levels of existing schemes.

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

In each of the qualifying periods, eligible employers who meet the following conditions will be notified in writing:

  • Have contributed at least S$750 Skills Development Levy over the period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified at any of the earlier periods

SMEs may visit the various grants administrating agencies to understand more: