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Government Grants for Singapore SMEs

As most are aware, the Singapore government is strongly supportive of local Small and Medium Enterprises (SMEs) taking charge to digitise their operations and move towards an Industry 4.0/ Smart Nation initiative.

There are thus two main financial assistance programmes aimed at assisting SMEs to implement smart digital solutions into their main operations.

Option #1: Enterprise Development Grant (EDG)

Announced in February 2018, the EDG grant is the successor to the Capability Development Grant (CDG).

The EDG grant is focused on helping SMEs scale up their business capabilities and ensure business growth. 

Under this grant, the maximum possible funding is up to 70% of qualifying costs.

This grant would be a suitable option for companies with more complex operations and thus require add-on modules or customised features. Due to the more complex nature of such projects, applicants are required to submit an in-depth proposal with the assistance of their solution consultants. 

Option #2: Productivity Solutions Grant (PSG)

Similarly announced in February 2018, the PSG grant is widely considered as a replacement for the popular-but-discontinued Productivity and Innovation Credit (PIC) scheme.

This grant covers pre-scoped/ off-the-shelf solutions and is more suited for companies which are looking for a straightforward and no-frills solution to improve productivity.

Under this grant, the maximum possible funding is up to 70% of the project cost, capped at $30,000.

As the pre-scoped solutions are less complex, the application process for this grant is much more straightforward. An in-depth proposal is thus not required, and applicants are only required to fill in an application form. 


If you are keen in either of the two grants, here’s what you have to do;

    • Check your company’s eligibility. The criteria are :
        • Your company must be registered and operating in Singapore.
        • There must be at least 30% local shareholding.
        • The group annual sales turnover must be less than S$100m or the group has less than 200 employees.
    • Decide on the consultant/vendor that can best meet your business requirements.
    • Submit an online application.

Inecom has extensive experience in helping companies with grant applications for their ERP investment – especially in SAP Business One projects. We use the Shark Finesse ROI Software (recommended by SAP) to build a value-based business case for your project investment. The process of building the ROI business case helps to identify the pain points and issues of the organization and how the project delivers monetary benefit and value.

Example of ROI business case –
   ROI investment screenshot

Find out how we can help with your ROI calculation and Government Grant application!

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Related links:
SAP Business One HANA Free Trial
Inecom Salesforce Automation Package
Industry 4.0 and Compatible ERP Software for Manufacturers

 



 

Find out more about Government Grants