Understanding EDG Grant
The EDG (Enterprise Development Grant) is a scheme launched by the Singaporean government to support the growth and expansion of small and medium-sized enterprises (SMEs) in the country. This grant has been designed to help businesses that are looking to upgrade their capabilities, expand their operations, and venture into new markets. In this article, we will provide a comprehensive guide to the EDG Grant Singapore and its benefits for businesses in the country.
The EDG Grant Singapore covers three main areas of business development, namely core capabilities, innovation and productivity, and market access. Under each of these areas, businesses can receive funding support for various projects, including but not limited to Dynamic Web Development. In this article, we will focus on the core capabilities area, which is the most relevant to businesses seeking funding for dynamic web development projects.
Core Capabilities Area
The core capabilities area of the EDG Grant Singapore is aimed at helping businesses build a strong foundation of core capabilities that will enable them to compete and grow in their respective industries. The grant supports projects that involve upgrading business processes, improving productivity, and enhancing human resource capabilities.
Dynamic Web Development and EDG Grant Singapore
Dynamic Web Development is a critical area of business development in the digital age, where online presence and e-commerce capabilities are essential for success. Businesses that are looking to develop or enhance their dynamic web development capabilities can apply for funding under the EDG Grant Singapore.
To be eligible for funding under the core capabilities area, businesses must fulfill the following criteria:
- Registered and operating in Singapore
- At least 30% local shareholding
- Have a group annual sales turnover of less than S$100 million, or group employment size of fewer than 200 employees
Projects that are eligible for funding under the core capabilities area include the following:
- Developing a customised enterprise resource planning (ERP) system to enhance business operations
- Implementing digital solutions to automate business processes and increase productivity
- Enhancing employee training and development programmes to build human resource capabilities
The EDG Grant Singapore covers up to 80% of qualifying project costs, including third-party consultancy fees, software and equipment costs, and internal manpower costs. The grant is capped at S$30,000 per project for projects that fall under the core capabilities area.
Conclusion
The EDG Grant Singapore is an excellent initiative by the Singaporean government to support the growth and expansion of SMEs in the country. The grant provides much-needed funding support for businesses that are looking to upgrade their capabilities and venture into new markets. Businesses that are seeking funding for dynamic web development projects can apply for funding under the core capabilities area of the EDG Grant Singapore. With the grant covering up to 80% of project costs, businesses can take advantage of this opportunity to enhance their capabilities and stay competitive in the digital age.