Overvies of government grants for SMEs

1. SME Software Solutions
Overview of Government Grants
Sandra Lee SME SOFTWARE SOLUTIONS, 1 OCTOBER 2016

2. Government Grants
Introduction
The focus for subsidies in Singapore is very much on
- Innovation
and
- Productivity / Efficiency
The government is driving:
- Productivity = ‘doing more with less’
- Innovation = ‘doing things smarter then before’
Companies that are not able to achieve these goals will disappear or merge with
others who can…
To stimulate this the government has several grants that SMEs can use

3. Government Grants
Overview
Grants can support SMEs in financing projects, software and support to increase
productivity.
Grants exist for specific purposes
- Internationalisation (eg MRA)
- Tech startups (eg TECS)
For SMEs the following grants are most relevant:
- PIC - Productivity and Innovation Credit a tax scheme were customers can get
up to 40% back on investments
- ICV – Innovation and Capability Voucher – each SME can use up to 6
vouchers, 4 for consultancy costs, 2 for solutions from the pre-approved list of
applications
- CDG – capability and development grant for improvements in HR, Finance,
Productivity and other areas

4. Government Grants
Overview
For SMEs with more than 5 local staff several programs exist to enhance work-life
balance and quality of work
- WorkPro – specifically the age management grant can be interesting even for
smaller SMEs
- FWA – Flexible Work Arrangements – for SMEs who want to implement flexible
work provisions for staff
Both grants require little investment and can bring huge benefits for SMEs

5. Government Grants
There’s more
The grants mentioned are easily applied for and hence are the most widely used
For more specific purposes and bigger projects other programs exist
Remember though: a grant should support a business idea or plan that makes
sense – even without government funding
Contact us for more information and a good discussion on your options

6. Government Grants
Useful links
More information can be found here:
- PIC - https://www.iras.gov.sg/irashome/Schemes/Businesses/Productivity-and-
Innovation-Credit-Scheme/
- ICV – http://www.spring.gov.sg/Growing-Business/Voucher/Pages/innovation-
capability-voucher.aspx
- CDG – http://www.spring.gov.sg/Growing-Business/Grant/Pages/capability-
development-grant.aspx

7. For more information contact us
3157 3228
enquiry@isme.com.sg