- Is it true that EDG grant support has been raised to 90%?
Yes. On 26th March 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat announced a Supplementary Budget 2020 to fight COVID-19 and the impending recession. It was announced that EDG grant support will be raised to 90% until December 2020. But 90% is on a case-by-case basis and usually meant for companies adversely affected eg. tourism industry. For other companies, the grant support level is raised from previous 70% to 80%.
- Has CDG ended?
Yes, CDG (Capability Development Grant) is officially closed. CDG is the precursor to EDG.
- Has EDG started?
Yes, EDG (Enterprise Development Grant) is officially open.
- What is EDG?
EDG is the abbreviation for Enterprise Development Grant; it is also known as EDG Grant.
- What is it about?
The purpose of the grant is to help develop a company’s capability within 3 identified key pillars under Core Capabilities, Innovation & Productivity and Market Access.
- What are the supportable areas?
The areas that EDG grant supports are the following:
- Core Capabilities
- Strategic Brand& Marketing Development
- Business Strategy Development
- Human Capital Development
- Innovation and Productivity
- Process Redesign
- Market Access
- Pilot Project & Test Bedding
- Mergers & Acquisitions
If your business can benefit from enhancing capabilities in these areas and your company is eligible then speak with a certified consultant to help you apply quickly.
- How much grant can I get?
Eligible Small and Medium Enterprises (SMEs) can get up to 90% grant on qualifying costs.
- What is the maximum amount I can apply?
Technically, there is no cap. However, the amount is directly correlated to your annual turnover. This is based on our experience.
- What are the criteria?
You must be an SME that meets these criteria:
• Registered and operating in Singapore
• Local shareholding of at least 30%
• Be a viable business with track record
- What if I come from a big organisation?
Make sure your organisation or group holdings meet these criteria:
• Group sales turnover less than or equal to S$100 million
• Group employment size less than or equal to 200.
- Can startups apply?
In general, startups are not eligible for EDG. They are supported under another programme known as Startup SG. For more information, click here for Startup SG’s website.
- What if I am a one-man show?
If you are a sole proprietor or with less than 3 employees, the chances are reduced when applying for a grant. Consideration is given to companies with plans to expand and hire more staff.
- What documents should I get ready?
Prepare the following documents (if applicable):
– Latest audited group financial statements not more than 18 months old Project Proposal (Click here for templates)
– Quotation for equipment, hardware or software
– Supporting documents for salary support
Employment or appointment letters Staff’s NRIC or Passport number (for Overseas Marketing Presence projects)
– Consulting firm’s proposal
– Consultant’s certification
– Rental agreement or quotation (for Overseas Marketing Presence projects)
- Who can guide me through the process?
Talk to an advisor at one of the SME Centres or get a certified consultant. Click here to talk a certified consultant.
- What is the usual process in applying for a EDG Grant?
• Discuss project with certified consultant or advisor at SME Centre.
• Consulting firm and vendors will provide a project proposal outlining the scope of work.
• Applicant prepares company proposals to build business case. (Our consultants can assist in this area.)
• Designated EDG application can use the proposal to apply online at Business Grants Portal.
• Companies may be interviewed by ESG prior to project approval.
• Await award notification through the portal with exact grant amount.
• Accept letter of offer and notify project partners.
- What are the common mistakes to avoid?
• Including activities not supported under EDG.
• Consultants who are not certified to handle projects.
• Incomplete breakdown of costs.
• Exclusion of productivity outcomes or tangible benefits.
• Too narrow project scope
- Who approves the EDG grant?
Enterprise Singapore (ESG) will assess the application, determine the feasibility and impact of the project and provide the final approval.
- How long will it take?
It can take anywhere between 4 to 8 weeks for a reply. Clarity of proposal and application can speed up the approval process.
- How do I know if I get the EDG grant?
You will receive a letter of offer which you must accept within a time frame within the business grant portal. Or you will receive a letter of rejection.
- What if I failed to get the EDG grant?
You can appeal by emailing to Enterprise Singapore.
- What about PIC?
PIC (Productivity and Innovation Credit) is no longer offered as of 2018 and there is no replacement for that programme.
- What other grants can SMEs apply for?
You can also apply for Productivity Solutions Grant which provides easy access to pre-scoped IT solutions. You can check with www.smeportal.sg for the current list of grants currently available for SMEs.
- How can I increase chances of approval?
Your company can work with experienced consultants to ensure that your application has all correct relevant information. Activities that are vague or appear to non-relevant to the project may cause delays on project approval and may require more information from vendors before the project can be approved.
- Can I apply for more than 1 project at the same time?
Yes, you may apply for multiple projects at the same time. Sufficient internal resources must be available to handle each project.
- What is the latest news on Business Excellence Initiative?
Business Excellence (BE) initiative is a detailed framework to help you understand your business from a strategic viewpoint. One of the key attraction of the BE initiative is the certification, which allows you to use the Singapore Quality Class logo. However, ESG has decided to sunset the certification from 30 September 2020. You can still apply for EDG grant for Business Strategy Development but there will be no more certification.
- Where do I apply for EDG?
Apply directly at Business Grants Portal (https://www.businessgrants.gov.sg)
- How is the application process like?
Click here to take a look at the entire walk through process in applying for an EDG grant.
- What are some of the KPIs for a project?
Singapore is in a recession and jobs are of paramount importance. Hence, ESG is requiring firms to set targets on improving workers’ outcomes. Some of the more tangible workers’ outcomes are the creation of new jobs or the increase of wages. This applies to a Singaporean core, that is, Singaporean citizens and Singapore Permanent Residents.