Some information before you apply for EDG grant Singapore

[Emma Singh]

What are the different grants available for small businesses

It is the longing of each company to break into the global front. However, things will in general be hard for most businesses especially when they need more funds to compete with settled companies. The good news is that most governments are as of now offering a helping hand in the form of grants to aid companies in stamping their authority as global powerhouses while at the same time competing on an international front. In any case, how much do you think about the Enterprise Development Grant in Singapore?

 

All things considered, many individuals don't appear to understand the essence of the Enterprise Development Grant. To clear any doubts that you may have in mind, EDG is aimed at supporting express projects that improve your business, inject innovations or even help your company compete at the global market. No big surprise it doesn't come as a surprise when the government of Singapore issues grants to help with mergers and acquisitions. Essentially because you run a business, it doesn't mean you qualify for a grant directly. It is for this reason that you should know the eligibility criteria for government grants.

 

In Singapore, all businesses having a solid financial background are qualified for grants. In addition, the company ought to be registered and operational in Singapore while at the same time having a minimum of 30% local shareholding. In case your business is having a new project that isn't generating income, then you can in any case apply for a grant. Unfortunately, many business owners are still in limbo regarding how to apply for EDG grant Singapore. To offer a helping hand, you need to log in to the Business Grants Portal using your CorpPass after which you can submit the proposal. Recall you can never submit your proposal without having a CorpPass.

 

With regards to how long for approval for EDG grant to be processed, you should wait at least 8 to 10 weeks after submitting the project proposal. The individuals who qualify for a grant receive a Letter of Offer (LOF) stipulating the grant amount awarded. To avoid invalidation, it is mandatory to acknowledge receipt and accept the terms and conditions of the LOF. It is then that you can profit by government schemes to help small businesses therefore completing with other enterprises in Singapore on a level playing field. For more information, visit here.