The Enhanced Cap for the Market Readiness Assistance Grant (MRA) will be extended till 31 March 2026. The MRA helps companies expand into new markets overseas. The MRA covers, up to a limit, the costs of overseas market promotion, business development and new market set-up. The Enhanced Cap of SGD$100,000 was slated to expire on [...]
The Startup SG Founder (SSGF) Programme is a grant for first time entrepreneurs. It helps them to start their business by providing mentorship and financial support. The SSGF will provide two forms of support. 1) A start up grant 2) Mentorship from Accredited Mentor Partners (AMPs) The mentorship includes pitch training, network opportunities with investors [...]
The Singapore government supports companies in many ways. One key way is supporting companies in hiring, training and upskilling their employees. This is key because Singapore does not have any natural resources. Instead, the Singapore government looks to upskill the human capital in Singapore companies. This will aid Singapore companies to have an advantage over [...]
On the 16th of February 2024, Deputy Prime Minister and Finance Minister Lawrence Wong announced the Budget 2024 in parliament. Budget 2024 is about taking Singapore forward with its Forward Singapore Roadmap. The goal is to grow the economy, create better jobs, have more paths for equality and mobility, and provide more assurance for families [...]
The Government has recently launched a new Enterprise Innovation Scheme (EIS) designed to offer enhanced tax benefits to businesses engaged in eligible activities aimed at fostering innovation. Starting from the Year of Assessment (YA) 2024, companies involved in research and development (R&D), innovation, and capability development endeavours can now avail themselves of a generous 400% [...]
The SGD$500 million Jobs and Business Support Package announced during Budget 2022 consists of two schemes, namely the Small Business Recovery Grant and the Jobs Growth Incentive. These schemes provide targeted help for workers and businesses in segments of the economy that are facing slower recoveries. In this article, we will be focusing on the [...]
Every year, the finance minister will lay out plans to help businesses during his budget speech. As Singapore moves out of the pandemic phase of dealing with Covid-19 to treating the virus as endemic, businesses should start to pick up. However, there will still be some segments of the economy that are still reeling from [...]
What is the Enterprise Development Grant (EDG)? The Enterprise Development Grant helps Singapore companies grow and transform. There are 3 pillars under EDG: Core Capabilities Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting. Innovation and Productivity [...]
Due to the impact of the COVID-19 pandemic, the Inland Revenue Authority (IRAS) is supporting businesses through a range of measures. One of them is allowing companies to arrange for a longer instalment plan when paying for their corporate taxes. If the company is facing difficulties in paying taxes, it is the responsibility of the [...]
The Enterprise Development Grant (EDG) was created to help Singapore companies grow and transform. The grant supports projects that will help companies upgrade their business, innovate or venture overseas. To be eligible for the Enterprise Development Grant, a company needs to: Be a registered business entity in Singapore and be operating Have a minimum of [...]