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Government Grant & Subsidy Advisory
Government Grant & Subsidy Advisory

Government Grant & Assistance Scheme

 

There quite a number of government grants and assistance schemes to assist local companies especially SME (small & medium enterprises). These schemes are normally offered by different government agencies (eg. MOM, IDA & etc) to encourage companies looking into specific area of developments.

 

Any company, no matter a Private Limited, partnership or sole proprietorship, that fulfills the following criteria, the company will most likely qualify for most of the schemes. Of course, some schemes even apply to all companies in Singapore (even 100% foreign owned).

 

By the way, the qualification criteria for an SME as follow,

 

  • At least 30% local shareholding; AND
  • Company’s group annual sales turnover not more than S$100 million; OR
  • Company’s Group employment size not more than 200 workers

 

These are some of the grants offered by different government agencies,

 

 

Innovation & Capability Voucher (ICV)

 

The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at S5,000, to encourage SMEs to take their first step towards capability development.

Productivity and Innovation Credit

 

Enjoy 400% tax deductions/allowances and/or 60% cash payout for investment in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme.

 

 

Capability Development Grant (CDG)

 

The Capability Development Grant (CDG) is a financial assistance program aimed  at helping Small and Medium Enterprises (SMEs) defray up to 70% qualifying project costs.

Age Management Grant

 

One-off grant to help employers learn about and implement age management practices such as good re-employment practices, performance management and job redesign.

 

 

SME Talent Program

 

The SME Talent Program helps local SMEs attract local talents from the Polytechnics and Institute Education (ITEs) by sponsoring students study awards and job opportunities upon graduation.

Work-Life-Works

 

Obtain up to $20,000 to defray cost (eg. Laptop, computer server & etc) on implementing work-life strategies.

 

 

iSPRINT Grant

 

Obtain up to 70% subsidy on Accounting Software (eg. MYOB Premeir), Payroll Software(eg. MYOB Payroll) or Point-of-Sales Software (eg. Wincor Nixdorf POS System)

 

 

Flexi-Works

 

Obtain up to $110,000 to defray cost on hiring workers.

 

 

Do feel free to contact any of our friendly consultants if you require more information.

 

Tel:        65157906

Email:   Enquiry@361dc.com