Singapore Government Grants for Small Business
SPRING Singapore ICV Grant
SPRING Singapore ICV or the Innovation and Capability Voucher (ICV) is a simple to access, convenient and straightforward grant and each is valued at S$5,000 per voucher.
SMEs can use ICV grant in upgrading and strengthening their basic business processes in core areas such as Integrated Solutions, which, in turn, can be providers of Customer Relations Management System (CRM).
Technically, all local SMEs in Singapore can apply for an ICV grant if those SMEs meet the criteria set by SPRING Singapore ICV:
- Those SMEs applying should be registered and currently operating in Singapore;
- The minimum local shareholding of those SMEs is 30%;
- The annual turnover of the SME does not exceed $100 million OR has an employment size not exceeding 200 employees
CDG GRANT – Capability Development Grant
The grant defrays up to 70 percent* of qualifying project costs such as consultancy, training, certification and equipment costs. You can take on large scale upgrading projects in areas like increasing productivity, process improvement, product development and market access.
To encourage more SMEs to build business capabilities, the application process for grant support of S$30,000 or less has been simplified. You can look forward to simpler application forms and reduced documentation requirements for such projects.
- Registered and operating in Singapore
- At least 30% local shareholding
- Group annual sales turnover ≤ S$100m or group employment of ≤200 employees
PSG GRANT – Productivity Solutions Grant
Singapore’s Productivity Solutions Grant (PSG), is a new and powerful scheme designed to empower and boost the productivity of Small and Medium Enterprises (SMEs) by assisting them to upgrade and strengthen different areas of their business operations. The new grant streamlines existing productivity schemes – the Innovation & Capability Voucher (ICV) by SPRING, Landscape Productivity Grant (LPG) by National Parks Board, and the SME Go Digital Programme by Info-communications Media Development Authority.
Productivity Solutions Grant (PSG) is Singapore government’s restructured initiative to help SMEs in their digital transformation journey and provide support for adoption of IT solutions and equipment. The Productivity Solutions Grant (PSG) encourages SMEs to take the next step towards future capability development.
RapidCloud’s SalesMAP is a flexible, modular system designed for easy integration for SMEs which helps provide customer support, records management, knowledge base and other data required to keep track of customer related data.
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