Grants for Enterprise Development: What Is One?

 Grants for Enterprise Development: What Is One?

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Businesses that succeed now and in future will be those that have solid business foundations and strategies, utilize technology and new ways to do things, and expand beyond the country.

ESG grant Singapore and Enterprise Development Grant (EDG), are grants that support Singapore business growth and change. This grant can be used to help improve your business or come up with new ideas.

Core Capabilities

Projects in the Core Capabilities program are designed to support businesses in building business foundations that will enable them to adapt to change and grow. They don’t have to be sales-related.

Innovation and Productivity

Businesses can use innovation and productivity projects to find new ways to grow, improve efficiency, increase sustainability, or to more efficiently use resources. This could include things such as changing workflows and processes. Businesses can also use automation and new technology for certain tasks that are faster and more eco-friendly.

Market Research

Market Access projects help Singapore businesses expand beyond the country. To help with some costs, the edg grant Singapore can be used to fund your business. The grant will assist businesses in preparing for overseas markets (OMP), from December 30, 2020 to January 1, 2021.

What is the EDG good for?

Besides paying for third-party fees and software, grant money is used to cover internal costs such as manpower and IT equipment. The EDG does not authorize vendors to work with the program.

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Who can apply?

These are the things you should do:

  • Register a business in Singapore.
  • At least 30% of the ownership must be local.
  • You will be able to finance the project.

Enterprise Singapore will consider applications based on the project’s scope, results and the skill of the service provider. ESG programs do not require application fees. The government has not granted permission to businesses or individuals who help people apply for grants to charge fees.

Businesses that meet the following criteria can receive additional funding through the Skills Future Enterprise Credits scheme (SFEC).

  • You have paid at least S$750 to the Skills Development Levy during the time that counts.
  • They hire at least three Permanent Residents (PRs) each month to work for them.
  • Not qualified for SFEC in any past.

How to apply for EDG

EDG applications must include worker outcomes promises starting in April 2020. Workers may be eligible for a raise, new jobs, job re-designs, or training to keep their current jobs. If the NTUC e2i group approves, unionized companies and e2i partner under the Labour Movement may get an additional 10% funding.

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