Singapore’s pro-business administration provides a wide range of Grants and Incentives catering especially to SMEs.
The new annual Budget sees the addition of new grants and the expansion of existing ones to improve the capabilities, manpower and internationalisation efforts of businesses based in Singapore.
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Enterprise Singapore Grants (ESG)
ESG provides numerous Startup SG Grants catering to Founders, Investors and Startups
Workforce Singapore Grants (WSG)
WSG provides various grants to help employers upgrade their workforce to improve productivity and competitiveness.
Enterprise Development Grant (EDG)
EDG focuses on helping larger businesses that are looking to expand within and beyond Singapore’s shores.
For first-time entrepreneurs seeking early-stage funding support, mentorship and business networks.
Startup SG Founder provides mentorship and startup capital grant to first-time entrepreneurs with innovative business ideas. Enterprise Singapore will match $3 for every $1 raised by the entrepreneur.
Startup SG Tech fast-tracks the development of proprietary technology solutions, and catalyses the growth of startups based on proprietary technology and a scalable business model. Through Startup SG Tech, companies may receive early-stage funding for the commercialisation of proprietary technology.
Startup SG Equity aims to stimulate private-sector investments into innovative, Singapore-based technology startups with intellectual property and global market potential. The government will co-invest with independent, qualified 3rd party investors into eligible startups.
P-Max is a programme under the Adapt and Grow initiative that aims to help small and medium-sized enterprises (SMEs) to better recruit, train, manage and retain their newly-hired Professionals, Managers, Executives and Technicians (PMETs).
With up to 90% funding support from WSG, SMEs are only required to pay the 10% nett fee portion of the respective SME and PMET workshop course fees.
SMEs who successfully complete the six-month follow-up aimed at strengthening HR practices and retain their newly-hired PMET employee(s), will also be eligible for a one-off S$5,000 Assistance Grant.
The Career Support Programme (CSP) is a salary support programme to encourage employers to hire eligible Singapore Citizen Professionals, Managers, Executives and Technicians (PMETs). The programme period will be from 1 Apr 2019 to 31 Mar 2021.
Employers will receive up to $42,000 salary support for hiring eligible Singapore Citizens.
Employers can assess jobseekers’ job fit through a short-term work trial before offering employment paying at least $1,500/month for full time position, and $750/month for part-time position or more, to suitable Singapore Citizens.
For employers who hire unemployed Singaporean Citizens who have been actively looking for jobs for 6 months or more, the programme subsidised 30% of monthly salary for up to 6 months, capped at $5,400 per hire and $2,700 per hire for part-time jobs.
- All employers must be legally registered or incorporated in Singapore, with a Unique Entity Number (UEN) registered with ACRA
- Actively hiring for jobs paying $1,500 (for full-time or $750 for part-time position) or more
- Offer employment to suitable jobseekers on permanent terms or on contract terms that are no less than one (1) year after completion of Career Trial
Enterprise Development Grant (EDG) aims to support Singapore businesses in three key areas:
- Market and business development
- Innovation and productivity
- Core functions and capability
The grant funds up to 70% of qualifying project costs namely third party consultancy fees, software and equipment, and internal manpower cost.To qualify for the EDG, you need to:
- 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