Scaling Up Your Business: How Singapore’s Government Grants Can Help You Achieve Your Goals

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Scaling Up Your Business: How Singapore’s Government Grants Can Help You Achieve Your Goals

Scaling up a successful business is crucial for entrepreneurs in today’s rapidly changing market conditions. It entails expanding your current operations, workforce, and processes to increase profit margins, maintain competitiveness, and achieve long-term sustainability. Nevertheless, scaling can be a daunting experience, especially without the right financing and support.

Over the years, the Singapore Government has recognized the importance of growth and innovation as key drivers for the country’s economic development and prosperity. A plethora of programs and initiatives focused on supporting growing businesses have thus been introduced as part of national efforts to scale up the state’s entrepreneurial activity. In an effort to unlock the full growth potential of growing businesses, here are some opportunities and benefits at your disposal offered by the state.

Enterprise Fund.
The Economic Development Board offers the Enterprise Development Fund, enabling companies to utilize up to
SGD350,000 for projects that promote innovation in product development.

Grants for Product-Related Activities
The Investment Allowance-Specific Assistance gives businesses a percentage of the company’s qualifying value-added tax credits for the capital expenditure incurred
for capital expenditures on items such as, but not related to product.

for and the amount should be at least more than SGD.

and

Angela Lee
Angela Lee
Director of Research

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