Are you looking forward to company incorporation in Singapore? Or maybe you’re running Singapore-registered Company? If the answer to any of these questions is yes, chances are you’ve heard about government grants such as the Enterprise Development Grant (EDG).
Thanks to government grants such as EDG, companies can stamp authority as global powerhouse while at the same time attaining big-league status to compete on an international level. But what is the Enterprise Development Grant? Keep reading to find out more.
What is the Enterprise Development Fund?
The Enterprise Development Grant (EDG) is a program managed by Enterprise Singapore that empowers Singaporeans in their quest to develop and evolve. This is possible as it helps Singapore’s companies strengthen their business foundations, pursue innovation, and improve productivity. Companies can therefore leverage financial subsidies offered under the EDG program to acquire new technology.
What Does the EDG Support?
Now that you already know what the EDG entails, it is in your best interest that you also figure out what it supports. Well, the EDG supports projects that can help businesses grow and transform in three distinct areas i.e., core capabilities, innovation & productivity and market access. EDG can thus cater to the costs of hiring third party consultancy services, internal staffing, hardware, and software costs.
Who Can Apply?
Just because the EDG is aimed at supporting businesses in Singapore, it does not mean everyone is eligible for the program. That’s why you need to be fully aware of requisites to apply before doing anything else. To give you a tip of the iceberg, Singaporean businesses with a solid financial background are eligible to apply.
Other notable requisites you need to keep in mind include, have a minimum of 30% local shareholding, be registered and operational in Singapore and be capable of initiating and completing the proposed project. Businesses with a new project that isn’t generating income can qualify too. Visit the official website of MediaOne Marketing to read more.
The Bottom Line
The EDG comes as good news to many business owners in Singapore. However, you should not rush into filling the application form without doing your homework. To avoid making costly mistakes, you should consider getting advice from SME centres and qualified management consultants. Through this action, you will be able to reap maximum benefits after applying for the EDG grant in Singapore.
