Grants for SME and Booster Support Packages
Immediate attention for F&B and Retail sectors.
Did you know…
That Enterprise Singapore (ESG) has numerous grants available to help develop the businesses in Singapore?
In this article, we will be focusing more on the Enterprise Development Grant (EDG) that has been around since 2008. Recently, In accordance with the Supplementary Budget 2020, EDG has been updated and rewritten to help business survive during the COVID-19 pandemic.
Good News!
You can now obtain up to 80% subsidy for 5 core areas of the business from 1 April 2020 to 31 December 2020. For enterprises that are very affected by COVID-19, the maximum support level may be raised to 90%, verified on a case-by-case basis. That’s good news folks, but it’s only if you know how to apply ! Without the right knowledge, expertise and resources, most grant applications get rejected.
What is EDG?
The Enterprise Development Grant (EDG) is a single grant that integrates support for businesses in their growth and transformation in 5 areas.
- business strategy development
- financial management
- human capital development
- service excellence
- strategic brand and marketing development
Who can apply for EDG?
Your business must meet the following criteria for the Enterprise Development Grant (EDG):
- 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
How do I apply for an EDG grant?
It’s a long and tedious process with many paperworks and T&C to plow through. Firstly, you would need to read the guidelines very thoroughly for eligibility and prerequisite documents to submit. Next, write up your own full business proposal with supporting documents to persuade ESG to award the grant to you. This is not after you’ve spent a considerate amount of time hunting down a suitable agency to run the desired project for you… All while you juggle your day-to-day operations. Even when you’re all set, your proposal will still be rejected after waiting for 6 to 8 weeks, if your application does not align with the ESG’s visions.
How do I increase my chance of grant approval?
Ensure a successful product launch with a thorough go-to-marketing plan
If you’re reading this, you have already significantly increased your chances of grant approval. We are not bullet-proofed but we do have 2 things that you do not have at this point. Ready-to-execute business development project packages & a Certified ESG Consultant working with us to endorse our projects with you. Of course, the alternative option is to wait in line at SME centres to speak with a consultant, but that would mean going through the entire process and guesswork by yourself. Talk to us today!
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