Setting up a company in Singapore has many advantages – one of which is having government support through various types of grants for higher chances of business success. From productivity, digital transformation & business growth grants to Covid-19 specific grants, there’s a wide range of grants for Small and Medium Enterprises (SMEs) to leverage on.
The SFEC grant helps enterprises to empower their employees with upskilling initiatives to increase their capabilities.
Startup SG Founder – startup capital grant of S$50K
There are 2 tracks under this grant:
Train track – 3-month programmes with venture builders and accredited mentor partners
Start track – those with business ideas in mind can reach out to the accredited mentor partners under Enterprise Singapore directly
Startup SG Tech
This grant is to help accelerate the development of proprietary technology solutions while supporting the growth of startups based on these technologies.
SME Working Capital Loan – Up to S$1 million available for borrowing
The SME Working Capital Loan allows startups the opportunity to have monetary funds to power their business idea at every stage of growth.
Starting A Business in Singapore
The Singapore government has been a great support system for SMEs, especially in times of uncertainty and market downturn. These initiatives and grants certainly ease the financial burden and help to speed up the growth of these businesses, with the idea of creating an ecosystem of competitive businesses to channel economic growth in the long run.
The fastest way to start your business in Singapore is toget help from the service provider. If you want to quick and sure way, then work with the service provider to help you comply with the ACRA requirements is definitely a right move.
Is the process of starting a business in Singapore complicated?Tiwi2020-10-28T12:11:34+08:00