Singapore offers a comprehensive ecosystem of government support aimed at driving business growth and competitiveness. From grants that fund innovation and productivity enhancements to tax incentives for global expansion, these programs are tailored to meet the diverse needs of enterprises across industries. By providing financial assistance, fostering workforce development, and encouraging technological adoption, Singapore empowers businesses to scale sustainably and succeed in a dynamic global landscape.
We have explored the key business support programs available in Singapore and selected the most valuable ones for companies already operating in the country. Whether you’re looking to reduce costs, secure funding for growth, or expand into global markets, these initiatives offer targeted solutions to help your business thrive.
We have explored the key business support programs available in Singapore and selected the most valuable ones for companies already operating in the country. Whether you’re looking to reduce costs, secure funding for growth, or expand into global markets, these initiatives offer targeted solutions to help your business thrive.
1. Enterprise Development Grant (EDG)
The Enterprise Development Grant (EDG) supports projects that help you upgrade, innovate, grow and transform your business. Submit your individual project proposals with details on your business plans and project outcomes to take your business further. Sustainability-related projects may be supported at up to 70% from 1 April 2023 to 31 March 2026.
EDG funds qualifying project costs namely third-party consultancy fees, software and equipment, and internal manpower cost.
Objective: Support projects that drive business transformation and growth.
Key Focus Areas:
Funding: Up to 70% of qualifying project costs
Eligibility:
The Enterprise Development Grant (EDG) supports projects that help you upgrade, innovate, grow and transform your business. Submit your individual project proposals with details on your business plans and project outcomes to take your business further. Sustainability-related projects may be supported at up to 70% from 1 April 2023 to 31 March 2026.
EDG funds qualifying project costs namely third-party consultancy fees, software and equipment, and internal manpower cost.
Objective: Support projects that drive business transformation and growth.
Key Focus Areas:
- Core capabilities (e.g., business strategy, HR development).
- Innovation and productivity (e.g., automation, process redesign).
- Market access (e.g., international expansion).
Funding: Up to 70% of qualifying project costs
Eligibility:
- Business entity registered and operating in Singapore
- Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Company is financially ready to start and complete the project. Commonly used financial indicators, such as the current ratio, will be used for assessment.
Example:A tech company implementing AI solutions for efficiency might receive support for R&D costs.
2. Market Readiness Assistance (MRA) Grant
The Market Readiness Assistance (MRA) grant helps companies expand into new markets overseas by defraying the costs of overseas market promotion, business development and set-up.
Objective: Help businesses enter and grow in international markets.
Support: Up to 50% of eligible costs for local SMEs
The support is capped at S$100,000 per company per new market and covers activities under three pillars:
Eligibility:
The Market Readiness Assistance (MRA) grant helps companies expand into new markets overseas by defraying the costs of overseas market promotion, business development and set-up.
Objective: Help businesses enter and grow in international markets.
Support: Up to 50% of eligible costs for local SMEs
The support is capped at S$100,000 per company per new market and covers activities under three pillars:
- Overseas market promotion (capped at S$20,000)
- Overseas business development (capped at S$50,000)
- Overseas market set-up (capped at S$30,000)
Eligibility:
- Business entity is registered and operating in Singapore
- At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- New to target overseas market
- The company’s annual sales in the target market must not have exceeded S$100,000 in any of the preceding three years
- Group Annual Sales Turnover not exceeding S$100 million OR a Group employment size not exceeding 200 employees
Example: A retail chain exploring new opportunities in Southeast Asia by setting up physical stores or enhancing e-commerce capabilities.
3. Productivity Solutions Grant (PSG)
The Productivity Solutions Grant (PSG) was launched in April 2018 to help businesses enhance their processes with technology. It provides financial support for business owners to adopt pre-scoped IT solutions, equipment and consultancy services to improve productivity. These solutions are aligned to the industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs).
Sector-specific solutions are eligible for companies within the respective sectors only. These solutions are specially curated by sector lead agencies, aligned to industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs).
Objective: Enable SMEs to adopt technology solutions and equipment to boost productivity.
Support Areas: Digital solutions, IT systems, and industry-specific tools for productivity enhancement.
Funding: From 1 April 2023 onwards, the maximum support level is up to 50% for all sectors.
Eligibility:
The Productivity Solutions Grant (PSG) was launched in April 2018 to help businesses enhance their processes with technology. It provides financial support for business owners to adopt pre-scoped IT solutions, equipment and consultancy services to improve productivity. These solutions are aligned to the industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs).
Sector-specific solutions are eligible for companies within the respective sectors only. These solutions are specially curated by sector lead agencies, aligned to industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs).
Objective: Enable SMEs to adopt technology solutions and equipment to boost productivity.
Support Areas: Digital solutions, IT systems, and industry-specific tools for productivity enhancement.
Funding: From 1 April 2023 onwards, the maximum support level is up to 50% for all sectors.
Eligibility:
- Registered and operating in Singapore
- Purchase/lease/subscription of the IT solutions/equipment/consultancy service must be used in Singapore
- (For selected solutions only) Have a minimum of 30% local shareholding
- (For consultancy service solutions only) Have at least three local employees at the point of application
Example: A logistics company integrating route optimization software to improve delivery efficiency.
4. SkillsFuture Enterprise Credit (SFEC)
The SFEC is a S$10,000 credit for eligible businesses to transform and upskill via supported programmes and courses. It can be used to offset 90% of out-of-pocket costs for supported programmes and courses. The expiry date for SFEC has been extended by one year to 30 June 2025, as announced at Budget 2024. Employers are required to submit the final claims to the respective agencies for the supportable programmes that they have successfully applied for or training courses that they have completed by 30 June 2025.
Objective: Encourage companies to invest in workforce training and job redesign for enhanced competitiveness.
Funding: Up to S$10,000 per company to cover upskilling, training, and productivity solutions.
Eligibility: All employers who are eligible have been notified. No application is necessary. Enterprise Singapore notifies all newly eligible employers via email sent to their registered CorpPass Administrators. Employers who qualify will be able to see the S$10,000 credit when they log in to the Corppass.
The SFEC is a S$10,000 credit for eligible businesses to transform and upskill via supported programmes and courses. It can be used to offset 90% of out-of-pocket costs for supported programmes and courses. The expiry date for SFEC has been extended by one year to 30 June 2025, as announced at Budget 2024. Employers are required to submit the final claims to the respective agencies for the supportable programmes that they have successfully applied for or training courses that they have completed by 30 June 2025.
Objective: Encourage companies to invest in workforce training and job redesign for enhanced competitiveness.
Funding: Up to S$10,000 per company to cover upskilling, training, and productivity solutions.
Eligibility: All employers who are eligible have been notified. No application is necessary. Enterprise Singapore notifies all newly eligible employers via email sent to their registered CorpPass Administrators. Employers who qualify will be able to see the S$10,000 credit when they log in to the Corppass.
Example: A service company training its team in advanced customer relationship management tools.
5. Energy Efficiency Grant (E2G)
The Energy Efficiency Grant helps businesses transition towards being more energy efficient by co-funding investments in energy-efficient equipment. As announced at Budget 2024, the EEG will be expanded to more sectors from 1 April 2024. With the expanded EEG, EEG applications will be streamlined under one shopfront on GoBusiness, so that it is easier for businesses to access support for energy efficiency.
Objective: Support businesses in improving energy efficiency to reduce operational costs and environmental impact.
Funding: Each company is subjected to a grant cap of S$30,000 for EEG equipment supported under EEG (Base), starting on 1 April 2024 and ending on 31 March 2026.
Eligibility:
The Energy Efficiency Grant helps businesses transition towards being more energy efficient by co-funding investments in energy-efficient equipment. As announced at Budget 2024, the EEG will be expanded to more sectors from 1 April 2024. With the expanded EEG, EEG applications will be streamlined under one shopfront on GoBusiness, so that it is easier for businesses to access support for energy efficiency.
Objective: Support businesses in improving energy efficiency to reduce operational costs and environmental impact.
Funding: Each company is subjected to a grant cap of S$30,000 for EEG equipment supported under EEG (Base), starting on 1 April 2024 and ending on 31 March 2026.
Eligibility:
- Business entity registered and operating in Singapore in the Manufacturing, Food Services or Retail sector as defined below;
- Manufacturing companies that are classified under SSIC 10 to 32 (including Food Manufacturing)
- Food Services companies with valid Singapore Food Agency (SFA) licences and classified under SSICs 56 or 68104
- Retail companies that are classified under SSIC 47
- Has a minimum of 30% local shareholding,
- Employ at least one local employee at the firm-level
- Has a Group Annual Sales Turnover no more than S$500 million
Example: A food production company replacing outdated refrigeration systems with energy-efficient models to reduce utility costs.
6. Enterprise Financing Scheme (EFS)
The Enterprise Financing Scheme - SME Working Capital Loan (EFS-WCL) helps SMEs finance their operational cashflow needs. As announced in Budget 2024, the maximum loan quantum for Enterprise Financing Scheme – SME Working Capital Loan will be enhanced to S$500,000 permanently from 1 April 2024 onwards.
Objective: Facilitate access to financing for established companies to grow their operations locally and abroad.
Key Areas:
Eligibility:
The Enterprise Financing Scheme - SME Working Capital Loan (EFS-WCL) helps SMEs finance their operational cashflow needs. As announced in Budget 2024, the maximum loan quantum for Enterprise Financing Scheme – SME Working Capital Loan will be enhanced to S$500,000 permanently from 1 April 2024 onwards.
Objective: Facilitate access to financing for established companies to grow their operations locally and abroad.
Key Areas:
- Working Capital Loan: Supports day-to-day operations.
- Venture Loan: For business expansion and scaling.
- Trade Loan: For financing cross-border trade needs.
Eligibility:
- Business entity registered and operating in Singapore
- ACRA-registered Sole Proprietorships, Partnerships, Limited Liability Partnerships and Companies are eligible to apply
- Approvals of loans are subject to the participating Financial Institution’s assessment.
- Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
- Company has a Group Annual Sales Turnover not exceeding S$500 million
- For “SME Working Capital”, an SME is defined as having a Group revenue of up to S$100 million or a maximum employment size of 200 employees
Example: A construction company using trade loans to finance large-scale procurement for regional projects.
7. Global Trader Programme (GTP)
The Global Trader Programme (GTP) is a strategic initiative by Singapore to establish itself as a premier international trading hub. Administered by Enterprise Singapore, the GTP offers tax incentives to global trading companies that commit to substantial business activities and employment within the country.
Objective: Promote Singapore as a trading hub by offering tax incentives to global trading companies.
Benefits: The GTP provides a concessionary tax rate of 5%, 10% or 15% on qualifying income for five years.
Eligibility: Established companies engaged in international physical trading looking to set up their trading operations in Singapore. Companies should have an international trading and distribution network, and a good track record.
The Global Trader Programme (GTP) is a strategic initiative by Singapore to establish itself as a premier international trading hub. Administered by Enterprise Singapore, the GTP offers tax incentives to global trading companies that commit to substantial business activities and employment within the country.
Objective: Promote Singapore as a trading hub by offering tax incentives to global trading companies.
Benefits: The GTP provides a concessionary tax rate of 5%, 10% or 15% on qualifying income for five years.
Eligibility: Established companies engaged in international physical trading looking to set up their trading operations in Singapore. Companies should have an international trading and distribution network, and a good track record.
Example: A commodities trading firm establishing its regional headquarters in Singapore to manage trade flows across Asia.
8. Pioneer Certificate Incentive (PC) и Development and Expansion Incentive (DEI)
The Pioneer Certificate Incentive (PC) and the Development and Expansion Incentive (DEI) are key initiatives by the Singapore Economic Development Board (EDB) aimed at encouraging companies to develop capabilities and conduct new or expanded economic activities in Singapore.
Companies that carry out global or regional headquarters (HQ) activities of managing, coordinating and controlling business activities for a group of companies may also apply for the PC or DEI for the HQ activities.
Overview of the Incentive
Companies approved under the PC or DEI schemes are eligible for a corporate tax exemption (PC) or a concessionary tax rate of 5% or 10% (DEI) on qualifying income for up to five years. Extensions are possible, subject to further expansion commitments. Income from non-qualifying activities is excluded and must be tracked separately.
Assessment Criteria
Eligible companies must make significant economic contributions through investments that advance Singapore’s economy and industry capabilities. Applications for the Pioneer Certificate Incentive (PC) and Development and Expansion Incentive (DEI) are open to companies that:
Economic Impact: Create jobs (with skills, expertise, and seniority), increase business expenditure benefiting the local economy, and commit to capability-building (e.g., technology, skills, knowhow).
Manufacturing Requirements: Commit to fixed asset investments in plant, buildings, or equipment.
PC-Specific Requirements: Engage in pioneering activities introducing advanced technologies, skills, or processes not yet undertaken in Singapore, with substantial economic contributions.
Approval of PC or DEI is contingent on implementing the proposed plans to grow and sustain substantive economic activities in Singapore.
The Pioneer Certificate Incentive (PC) and the Development and Expansion Incentive (DEI) are key initiatives by the Singapore Economic Development Board (EDB) aimed at encouraging companies to develop capabilities and conduct new or expanded economic activities in Singapore.
Companies that carry out global or regional headquarters (HQ) activities of managing, coordinating and controlling business activities for a group of companies may also apply for the PC or DEI for the HQ activities.
Overview of the Incentive
Companies approved under the PC or DEI schemes are eligible for a corporate tax exemption (PC) or a concessionary tax rate of 5% or 10% (DEI) on qualifying income for up to five years. Extensions are possible, subject to further expansion commitments. Income from non-qualifying activities is excluded and must be tracked separately.
Assessment Criteria
Eligible companies must make significant economic contributions through investments that advance Singapore’s economy and industry capabilities. Applications for the Pioneer Certificate Incentive (PC) and Development and Expansion Incentive (DEI) are open to companies that:
Economic Impact: Create jobs (with skills, expertise, and seniority), increase business expenditure benefiting the local economy, and commit to capability-building (e.g., technology, skills, knowhow).
Manufacturing Requirements: Commit to fixed asset investments in plant, buildings, or equipment.
PC-Specific Requirements: Engage in pioneering activities introducing advanced technologies, skills, or processes not yet undertaken in Singapore, with substantial economic contributions.
Approval of PC or DEI is contingent on implementing the proposed plans to grow and sustain substantive economic activities in Singapore.
Example: A biotechnology company establishing its first manufacturing facility in Singapore to produce advanced gene therapy products for global distribution. The company leverages the Pioneer Certificate Incentive (PC) for full tax exemption on income generated from this pioneering activity over 15 years.
9. Tech@SG
Tech@SG Programme is a joint initiative by the Singapore Economic Development Board (EDB) and Enterprise Singapore designed to help fast-growing technology companies establish and expand their operations in Singapore. The program facilitates the hiring of key talent by streamlining the Employment Pass (EP) process.
Key Features:
Eligibility Criteria:
Tech@SG Programme is a joint initiative by the Singapore Economic Development Board (EDB) and Enterprise Singapore designed to help fast-growing technology companies establish and expand their operations in Singapore. The program facilitates the hiring of key talent by streamlining the Employment Pass (EP) process.
Key Features:
- Simplified Employment Pass (EP) Process: Companies supported by Tech@SG enjoy smoother and faster processing of EP applications for eligible foreign talent. (Enterprise Singapore Details)
- Up to 10 EPs Supported: The program guarantees the approval of up to 10 new EPs over two years, allowing companies to build their core team in Singapore quickly.
Eligibility Criteria:
- Incorporated a business entity in Singapore with the Accounting and Corporate Regulatory Authority (ACRA)
- Have a digital or technology offering as your core business product or service
- This includes instances where the company has a business model built on proprietary hardware and/or software technologies, such as big data and analytics, artificial intelligence and cybersecurity.
- Examples of such companies include software-as-a-service, e-commerce, digital media, digital gaming, medtech, biotech, cleantech and fintech companies.
- Business activities under these categories will not qualify for support: coffee shops, hawker centres, food courts. bars, night clubs, karaoke lounges; foot reflexology, massage parlours; acupuncture, Traditional Chinese Medicine, herbal dispensing businesses; employment agencies; geomancy businesses.
- Secured more than US$10 million (cumulative) in investment funding in the past 36 months
- Received funding (no minimum amount) from a programme-recognised investment firm in the past 36 months
Example: A rapidly expanding AI-driven fintech startup funded by a recognized venture capital firm uses the Tech@SG Programme to hire top-tier data scientists and product engineers globally. This talent builds its flagship platform in Singapore to serve the Asia-Pacific region.
How we can help:
- Grant Application Assistance: Identifying suitable programs and guiding you through the application process to improve your chances of approval.
- Business Strategy Consultation: Aligning your growth plans with the available support schemes to ensure you meet eligibility criteria.
- Compliance and Documentation Support: Ensuring all necessary documents and financial metrics meet program requirements.
- Ongoing Advisory: Keeping you updated on new incentives and assisting with renewals or expansions of existing support.