The SMB Grant Hub's goal is to assist businesses and companies subsidize their costs when using IT software hardware, IT security, online services by:
Increase SME profitability through cost saving optimization
Increase productivity using business process optimization
Increase business value with IT and digital solutions
According to a recently released government report, Small businesses (those with less than 20 employees) make up almost 99% of all enterprises. They also contribute to nearly 50% of Singapore’s GDP, having employed more than two-thirds (about 65%) of the country’s workforce.
Key Factor to Consider Before Applying for a Government Grant in Singapore Your biggest concern when applying for a grant in Singapore should be how you’ll get it approved. This demands that you look into the following key factors:
Due Diligence: Do your research and identify all the grants that your business is eligible for. Don’t just get lost on one particular grant. Scour around for alternative grants and weigh your options.
Support documents: You’ll be asked to submit all these documents on top of your application. It’s upon you to ensure you have all the supporting documents and information on the ready should you be asked to provide them.
Early Submission: Submitting your application right on time (better yet, as early as possible), means you’ll have enough time and opportunity to correct any oversight in case something goes amiss.
Seek Help: Many enterprises are subject to red tape and bureaucracy. They have a long list of legalities and criteria to deal with. It helps to hire a professional to guide you all through the process.
Leverage Buy-in: Private investors and other stakeholders will be more willing to go in business with you if you’re eligible for a government grant. You want to take advantage of grants because they’re a good way to legitimise and validate your business.
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