Previously, doing business in Singapore was challenging. Primarily, the lack of sufficient funds was diminishing the rising hopes of small scale entrepreneurs until the government came up with various business grants Singapore for supporting the sustenance and growth of SMEs.
In Singapore, more than 100 grants are available under various agencies and with their separate paper work, as well as, criteria. From IT companies to food, tourism and manufacturing companies looking forward to expanding their business or improving the infrastructure the applying for the funds from the Singaporean government might bring them good news of receiving the funds.
Here two most significant business grants in Singapore are mentioned—
Enterprise Development Grant (EDG)
Businesses that are in need of customizable support for betterment and internalization, the Singaporean government will offer them EDG grant by merging CDG and GCP, the two existing grants operated by Spring Singapore and the International Enterprise (IE).
The EDG funds will cover up to 70% of the company’s development covering the growth and development of infrastructure, productivity, manpower strength, cash flow, installation of advanced machinery, service excellence, and various other sectors.
Productivity Solutions Grant (PSG)
The PSG is an initiative carried on by the Grants Management Office (GMO) of the MTI- primarily aimed to assist transformation of businesses.