Overview of Government Grants Available

In today’s fast-paced digital landscape, businesses must adapt and innovate to stay competitive. The Singapore government has been offering a range of grants and initiatives to support companies in their journey towards digital transformation.

Whether you are a SME looking to kickstart your digital journey or an established enterprise aiming to enhance productivity and efficiency, find out what are some of the government grants available for your digital transformation journey.

Enterprise Development Grant (EDG)

What is the Enterprise Development Grant?

The Enterprise Development Grant (EDG) is a government grant in Singapore aimed at helping local businesses grow and transform. It supports projects that help businesses upgrade capabilities, innovate, or venture into new markets and industries.

The grant provides funding support for qualifying project costs, which may include consultancy fees, software and equipment expenses, and internal manpower costs. The level of funding support varies depending on the nature of the project and the eligibility of the applicant.

Here are some general guidelines set by Enterprise Singapore to help you assess your eligibility:

  • Business entity registered and operating in Singapore
  • Company has a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

The Enterprise Development Grant (EDG) funds up to 50% of qualifying costs for SMEs, and up to 30% of qualifying costs for non-SMEs.

From 1 April 2023 to 31 March 2026, sustainability-related projects may be supported at up to 70%.

Definitely!

Under the EDG, projects aimed at upgrading capabilities and improving productivity are eligible for funding support. Implementing an ERP system can enhance a business’s operational efficiency, streamline processes, and improve productivity, which aligns with the objectives of the grant.

For more information, visit the Enterprise Singapore website.

NTUC CTC Grant

What is the NTUC CTC Grant?

The NTUC Company Training Committee (CTC) Grant is a funding initiative provided by NTUC (National Trades Union Congress) in Singapore, and is managed by NTUC’s e2i (Employment and Employability Institute).

The grant aims to support companies in implementing effective training and development initiatives for their employees through the establishment of a Company Training Committee (CTC). By leveraging the support provided through the grant, companies can enhance employee skills, improve productivity, and drive business success.

Entities legally registered or incorporated in Singapore are eligible for the NTUC CTC Grant. Some examples include:

  • Companies
  • Societies
  • Non-profit organisations i.e. Charities and Social Service Agencies

Note: Government bodies, Statutory boards, Organs of State, and wholly-owned subsidiaries of Government are not eligible.

The NTUC CTC Grant provides funding support of up to 70% of qualifying cost for each project. Funding quantum will be assessed based on:

  • Strength of project from business transformation perspective
  • Cost of project from worker outcomes perspective

Items must be deemed relevant and tied to transformation plans that lead to worker and business outcomes. Examples of supportable items:

  • Equipment/Software (i.e., Dynamics 365 Business Central ERP system)
  • Related OEM/software training
  • Consultancy

To qualify for the CTC Grant, you need to first form a Company Training Committee (CTC). Your CTC will then develop a transformation plan and show how the plan leads to better work and business outcomes.

The CTC Grant is open for applications from 1 August 2022 to 31 July 2026.
All applications are to be submitted through the e2i Grant Portal.

For more information, kindly visit the e2i webpage for the latest updates.

Productivity Solutions Grant (PSG)

What is the Productivity Solutions Grant?

First launched in 2018, the Productivity Solutions Grant (PSG) is a government initiative in Singapore aimed at supporting businesses in their efforts to improve productivity and streamline operations by adopting technology solutions.

The PSG covers a wide range of pre-approved solutions (i.e., Microsoft Dynamics 365 Business Central ERP solutions) across various industries and business functions. These solutions are categorized into sectors such as Retail, Food Services, Wholesale Trade, Construction, and Manufacturing, among others.

From 1 April 2023 onwards, the maximum support level is up to 50% of qualifying project costs for all sectors, with a cap of S$30,000. This means that the grant can cover up to 50%, or S$30,000 (whichever is lower) of the expenses incurred for adopting the pre-approved solution.

Not sure which grant is best suited for your business requirements?

Why Choose Microsoft Dynamics ERP with NaviWorld Singapore

Proven Track Record in ERP Implementation

Our continued emphasis on superior project management

Effective Solution Implementation

Achieved through understanding your business objectives and requirements

High Quality Consulting Services

Our domain expertise and focus on Microsoft Dynamics 365 Business Central ERP

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Accompanied with our partner alliances across the Asia Pacific region

All information presented is sourced from the respective principle/vendor and is accurate on the date of publication.

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