Things to know about EDG grant in Singapore
Singaporean businesses looking forward to achieve higher status in the international markets often apply for the Enterprise Development Grant (EDG). In 2018, the EDG grant was reframed from the Global Company Partnership and Capability Development Grant. The edg grant in Singapore supports three main areas – Market Access, Innovation and Productivity and the Core Capabilities.
As the name of the grant says, the aim of the fund is to improve the present state of the businesses starting from the infrastructure to upgradation of the employee payroll etc. for boosting the productivity and better business outcome.
Who can apply for the EDG in Singapore?
- The business should be registered in Singapore and its operations must also be run from here.
- The company must have 30% local shareholders
- The company should be financially capable of completing the proposed project
- A company running a new project but failing to earn can also apply for the enterprise development grant in Singapore.
How to apply for the fund?
Visit www.businessgrants.gov.sg. It’s the official website of the Business Grants Portal where applicants have to log in using the CorpPass.
Applicants have to provide accurate details of –
- Staff remuneration
- Company revenue
- A sum of total profit for the past three years before paying tax
- Wages, job opportunities, impact on social life of employees etc.