It is the desire of every entrepreneur in Singapore to break into the global front. Unfortunately, many of them end up falling down the pecking order. This is mainly the case among entrepreneurs who are running low on finances. The good news is that the Government of Singapore is chipping in to help aspiring entrepreneurs leave a mark in the industry.
To make this possible, they offer financial injection to businesses in the form of grants. One such grant is the famous Enterprise Development Grant (EDG). In this simple guide, we will share with you some of the things you probably didn’t know about the EDG grant in Singapore.
What is the Enterprise Development Grant?
First things first, the EDG grant is an enterprise Singapore grant aimed at empowering Singaporeans in their quest to develop and evolve. The grant supports specific projects that upgrade your business while at the same time helping innovate technology applications for commercial use. That’s precisely what you need to propel your business to a whole new level and conquer the global market.
You ought to keep in mind that the EDG grant aims to support businesses in three distinct areas. They include core capabilities, innovation and productivity, not forgetting market access. However, your business should be registered and operational in Singapore to benefit from this grant.
There are a number of factors that you need to consider before you finally make up your mind to apply for the EDG grant. First and foremost, check whether your business qualifies for the grant. Furthermore, you need to provide all the factual information and accurate details needed. It is highly recommended that you get advice from SME centers and qualified management consultants with affiliation to enterprise Singapore. That way, you can follow the EDG claims process without the hassle.
Having a clear understanding of the Enterprise Development Grant goes a long way in making sure you enjoy the numerous benefits it brings about. Actually, this simple guide is only meant to give you a tip of the iceberg regarding what is destined to come your way. To avoid being left behind, you can read more about EDG grant here at any time of the day you find appealing. It is then that you can think about commencing the application process and reap maximum benefits.