How to Apply for Enterprise Subsidies Provided by Singapore?
The Singapore Government provides multiple subsidy programs for enterprises, helping businesses develop and transform, including PSG (Productivity Solutions Grant), EDG (Enterprise Development Grant), SFEC (SkillsFuture Enterprise Credit), and more.
1. PSG (Productivity Solutions Grant)
PSG aims to support SMEs in improving productivity through IT solutions and equipment, automating existing processes.
Application Conditions:
1. Business entity registered and operating in Singapore.
2. Company must have at least 30% local equity, held directly or indirectly by Singaporeans and/or Singapore Permanent Residents.
3. Company group annual sales turnover not exceeding SGD 100 million, or group headcount not exceeding 200 employees.
4. IT solutions or equipment must be used in Singapore.
5. No payment or deposit has been made to the vendor at the time of application.
Funding Scope: Purchase, lease, or subscription of IT solutions and equipment, with a maximum funding amount of SGD 30,000 and a funding ratio of 50%.
2. EDG (Enterprise Development Grant)
EDG supports enterprises in upgrading, innovating, growing, and transforming through projects.
Application Conditions:
1. Business entity registered and operating in Singapore.
2. Company must have at least 30% local equity, held directly or indirectly by Singaporeans and/or Singapore Permanent Residents.
3. Company must be financially sound and able to support project implementation.
4. Project must be new, not yet started at the time of application and no revenue has been generated.
Funding Scope: Third-party consulting fees, software and equipment procurement, and internal manpower costs. Local SMEs can receive up to 50% funding support. Sustainability-related projects can receive up to 70% support from April 1, 2023 to March 31, 2026.
3. SFEC (SkillsFuture Enterprise Credit)
SFEC encourages enterprises to invest in employee training and capability development.
Application Conditions:
1. Must have paid at least SGD 750 in Skills Development Levy (SDL).
2. Must employ at least 3 Singapore citizens or permanent residents and make CPF contributions for them.
3. Business must be registered and operating in Singapore.
4. Within the specified qualifying period, the enterprise must meet one of the following conditions.
5. The enterprise has not qualified for SFEC in any previous qualifying period.
Funding Scope: Eligible enterprises will receive a one-time credit of SGD 10,000, which can be used to support employee training and capability development.
4. MRA (Green Development Plan)
Supports enterprises in transitioning to a green economy, including resource optimization, energy conservation, and emission reduction projects. Eligible enterprises can receive up to 70% support for project costs. The maximum funding amount for a single project can reach SGD 5 million.
Application Conditions:
1. Business entity registered and operating in Singapore.
2. Company must have at least 30% local equity, held directly or indirectly by Singaporeans and/or Singapore Permanent Residents.
3. Project must meet the requirements of the Green Development Plan, with clear energy conservation and emission reduction targets and an implementation plan.
4. Project must be new, not yet started at the time of application and no revenue has been generated.
Funding Scope: Resource optimization, energy conservation and emission reduction, green technology application, and other projects.
