List of Grants for SME

There are grants for SME that can help your company to improve the productivity and capability. Furthermore, we can help turn your investments into tax saving, or receive a cash payouts of up to $100,000. With more than 100 grants given by the various government agencies such as Infocomm Development Authority (IDA), Spring Singapore , Inland Revenue Authority of Singapore (IRAS) . It is a very difficult and complicated process . We can help you to determine which ones you qualify for.

• SMEs Go Digital programme (Replace iSprint)

  Co-funded up to 70%

  SMEs Go Digital aims to defray up to 70 per cent of the cost of technology purchases, capped at $300,000 per SME. It will replace the seven-year-old iSprint scheme, which provided similar subsidies and basic tech advice, benefiting some 8,000 SMEs.

  SMEs Go Digital was announced at Budget 2017 to help SMEs build stronger digital capabilities to seize the opportunities for growth in the digital economy. Building on the foundation of Enhanced iSPRINT, SMEs Go Digital takes on a more structured and inclusive approach towards the adoption of digital technologies by SMEs.

  In addition to productivity tools such as digital ordering and payment, and fleet management, new digital capabilities such as cybersecurity, data protection, and data analytics will also be included under the SMEs Go Digital programme.

  SMEs can can reach out to the SME Centres for advice on the pre-approved solutions that meet their business needs. 

  For SMEs with more advanced digital needs such as data analytics and cybersecurity, the Business Advisors at the SME Centres will refer them to the SME Digital Tech Hub.

  

   

  Click here for more about Go Digital Programme
  

• Startup SG Founder (Replace ACE startup Grant)

  Startup SG Founder provides mentorship and startup capital grant to first-time entrepreneurs with innovative business ideas. SPRING will match $3 for every $1 raised by the entrepreneur.
  

  SPRING has appointed Accredited Mentor Partners (AMP) that will identify qualifying applicants based on the uniqueness of business concept, feasibility of business model, strength of management team, and potential market value. Upon successful application, the AMP will assist the startups with advice, learning programs and networking contacts.

  The grant is open to all Singaporeans/Permanent Residents who are first-time entrepreneurs. In addition, the applicant would need to adhere to the following conditions at the time of application:

  1. Applicant(s) must hold or propose to hold at least 30% equity in the underlying company;
  2. The company must have at least 51% of local shareholding and not be incorporated for more than six (6) months at the point of application to SPRING;
  3. The applicants must not have-
     1. registered or incorporated any business entity; and
     2. received any funding for the proposed business idea from another government organisation

  Approved applicants must dedicate a reasonable amount of their time on the business and must be a key decision maker in the company. The applicants must also commit full-time to the company and not be in any other employment from the time they accept the terms and conditions of the Letter of Offer.

   Click here for more info .

   

• Market Readiness Assistance Grant (MRA)

  Co-funded 70% up to $20,000
  

  MRA grant supports Singapore SMEs in international expansion.  It covers activities like

  • Overseas market set-up
  • Identification of business partners
  • Overseas market promotion

  Who can apply for the MRA Grant?
  
  SMEs that fulfill the following criteria:
  
  Global HQ anchored in Singapore
  Company annual turnover of less than S$100 million per annum based on the most recent audited report

  Agency: IE Singapore

  Amount: 70% / cap at S$20,000

  Eligibility:

  • Global HQ in Singapore
  • Annual Sales turnover of less than S$100 million per annum based on the most recent audited report

  Click here for more about MRA
  

• Productivity-Max Programme (P-Max)

  Funding support up to 90%
  

  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)
  • Enable SMEs to establish better communication channels between supervisors and staff and to adopt progressive HR practices (e.g. goals setting, performance management) for newly-hired PMETs within their SMEs
  • Help newly-hired PMETs to better acclimatise to the new SME work environment and to encourage better retention of PMETs in SMEs

  Who is it for?

  • Local SMEs looking to hire PMETs.
  • Job-seeking PMETs who are Singapore Citizens or Singaporean Permanent Residents, looking for a career with SMEs

  How will SMEs benefit?

  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. 

  Click here for more about P-Max

• Productivity Innovation Project (PIP)

  Co-funded 50% - 70% for construction project value chain
  

  What is it?

  The Productivity Innovation Project Scheme primarily aims at encouraging contractors and prefabricators to embark on development projects that build up their capability and improve their site processes for achieving higher site productivity. These projects could be worked on individually or in groups.

  Who is it for?

  All stakeholders on the construction project value chain, who are registered and operating in Singapore, are eligible.

  • Developers
  • Consultants
  • Contractors
  • Prefabricators
  • Others (if proposal helps to reduce site workers)

  What is it for?

  The incentive scheme helps contractors to re-engineer site processes or adopt labour-efficient construction technologies to reduce site workers or improve site productivity. The following costs are supportable on a co-funding and reimbursement basis:

  • Manpower
  • Equipment
  • Materials
  • Professional Services / Subcontracting
  • Acquisition of Intellectual Property Rights.

  How much?

  Participating firms	Standard PIP Scheme	Enhanced PIP Scheme
  		Funding Level	Funding Cap
  Firm	Co-funded up to 50% Capped at $100,000 per application	Co-funded up to 70%*	Capped up $300,000 per application (for selected technologies)
  Prefabricators	Co-funding up to 50% Capped at $500,000 per application	Co-funded up to 70%*	Capped up $500,000 per application Capped up to $1,000,000 per application for highly automated technology
  Group (At least two unrelated companies)	Co-funding up to 50% Capped at $500,000 per application	Co-funded up to 70%*	Capped up to $500,000 per application
  Industry (To be actively led by Public Agency with at least two unrelated companies)	Co-funding up to 70% Capped at $1,000,000 per application	Co-funded up to 70%**	Capped up $10,000,000 per application

  * Firms must be at least achieve 30% productivity improvement and demonstrate development in any 2 of the 3 areas in financial standing, human resource development or certifications/awards.

  ** Firms must achieve at least 40% productivity improvement, and the technology used must demonstrate the potential to greatly transform the industry's current state.

  Click here for more about PIP

• Productivity and Innovation Credit Scheme (PIC)

  Receive up to $100000 of cash payout (PIC) 

  It will expire after YA 2018

  The IRAS PIC Bonus encourages more companies to take advantage of the PIC scheme to invest in productivity. 

  1. Reduction of cash payout rate for qualifying expenditure incurred on or after 1 Aug 2016 from 60% to 40% (the cash payout rate is not determined by the date of submission of the cash payout application); and
  2. Compulsory e-Filing of cash payout applications. Hardcopy applications will not be accepted from 1 Aug 2016.

  Under the PIC Scheme, businesses can enjoy 400% tax deductions/allowances on up to $600,000 and/or 40% cash payout for investments made in any of the Six Qualifying Activities from the Years of Assessment (YAs) 2013 to 2018.

  1. Acquisition and Leasing of PIC IT and Automation Equipment

  2. Training of Employees

  3. Acquisition and Licensing of Intellectual Property Rights (IPR)

  4. Registration of Patents, Trademarks, Designs and Plant Varieties

  5. Research and Development (R&D) Activities

  6. Investment in Design Projects

   

  Click here for more about PIC Bonus

• Capability Development Grant (CDG)

  Get 70% to defray the costs of implementing project (CDG)

  SPRING's enhanced funding support of up to 70% would be effective for three years until 31 March 2018.

  You may get up to 70% funding support of qualifying project costs such as:

  • Consultancy
  • Training
  • Certification
  • Equipment costs

  The application requirements for smaller scale projects, for grant support of S$30,000 or less has also been simplified. You can look forward to more streamlined application forms and documentation requirements

  Criteria

  Your business qualifies as long as:

  • Registered or incorporated in Singapore
  • 30% to 100% of your shareholding is local
  • Group annual sales turnover ≤ S$100m or group employment of ≤200 employees

  Optional: CDG-WorkPro Job Redesign Rider

  Between 1 Jul 2016 to 30 Jun 2019, companies supported under the Capability Development Grant (CDG) may apply for the WorkPro - Job Redesign Rider (“JR Rider”) upon CDG project completion. To be eligible, SMEs need to show that the project has led to a positive impact on older workers (subject to applicable conditions being met). This includes, but is not limited to:

  • making jobs physically easier, safer and smarter through improvements to the workplace environment / work processes
  • placement and retention of older workers
  • improved productivity, enhanced job scope, wage increment etc.

  The JR Rider can be used to increase the level of funding support to a maximum of 80% of the qualifying project cost, or up to $20,000 payable per older worker who have benefited (whichever is lower), subject to the applicable caps to the JR Rider scheme.

  Click here for more about CDG link

  

• Innovation & Capability Voucher (ICV)

  Receive $5000 voucher to upgrade your business (ICV)

  The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to develop their business capabilities.
  
  SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, ICV also supports SMEs in the adoption and implementation of pre-scoped Integrated Solutions to improve business efficiency and productivity.
  
  Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.

  Criteria

  All local SMEs can apply for ICV if they meet the following criteria :

  • Physically located and registered in Singapore
  • Have at least 30% local shareholding, and
  • Have group annual sales of not more than $100 million or group employment size not exceeding 200 employees

  *Above is the excerpt from SPRING SINGAPORE, more information can be found on the link.

  

   

• Inclusive Growth Programme (IGP)

  Up to 50% of productivity improvement costs

  The Inclusive Growth Programme (IGP) is a fund managed by e2i that helps companies kick-start productivity projects, with companies in return sharing the productivity gains with their workers through higher wages. e2i helps businesses identify potential areas for improvements to benefit both businesses and workers, and offers grant support under IGP to help companies get started on the productivity initiatives.

  The fundable components include:

  • Automation & equipment cost

  • Process re-engineering & job redesign

  • Training for local workers

  Capped at $1 million over two years per company, IGP can be used to fund: • Up to 50% of productivity improvement costs • Up to $300,000 per project
  
  

  For more information on the IGP, click here.

  

   

• Special Employment Credit (SEC)

  Receive a payout of 8% to 11% of every employee salary
  

  As announced at Budget 2016, the SEC will be extended for three years (viz. 1 January 2017 to 31 December 2019) to continue providing a wage-offset to employers hiring Singaporean workers aged 55 and above, and earning up to $4,000.

  Re-employing Older Workers not covered by the new re-employment age of 67
  To encourage employers to voluntarily re-employ Singaporeans aged 65 and above, it was announced at Budget 2015 that an additional wage offset of up to 3% would be introduced in 2015.
  
  From 1 July 2017, the re-employment age will be raised from 65 to 67. The new re-employment age of 67 will apply to those who turn 65 on or after 1 July 2017; in other words, those born on or after 1 July 1952. As announced at Budget 2017, the additional wage offset of 3% will be extended from 1 July 2017 to 31 December 2019 to encourage employers to voluntarily re-employ the two groups of employees who are not covered by the new re-employment age.
  
  First, those aged 65 and above but below 67 and not covered by the new re-employment age of 67.
  Second, those beyond the new re-employment age of 67.
  
  Persons with Disabilities
  ​To support employment of Persons with Disabilities (PWDs), the SEC was extended to employers that hire PWDs of all ages in 2012. The SEC for PWDs is set at 16% of the employee's monthly income, up to $240 per month.​

   

  For more information on the SEC, click here.