Enterprise Development Grant (EDG)
The EDG supports SMEs to build up capabilities to grow their businesses locally and globally.
The EDG defrays project costs that help businesses to upgrade, innovate or venture overseas under 3 pillars:
- Core Capabilities – help businesses to grow and transform.
- Innovation and Productivity – support companies to explore new growth areas, enhance efficiency, or optimise resource usage to improve sustainability.
- Market Access – support businesses to expand into overseas markets.
EDG supports qualifying project costs such as 3rd party consultancy fees, software and equipment and internal manpower cost.
There are no pre-approved vendors for the EDG.
- Registered and operating in Singapore.
- At least 30% local shareholding.
- Financially viable to start and complete the project.
Market Readiness Assistance Grant (MRA)
The MRA Grant encourages SMEs to take the first step towards overseas expansion.
- 70% of the eligible cost for activities listed above, capped at S$100,000 per company per new market.
- Valid from 1 Apr 2020 to 31 Mar 2023.
- 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).
- Business entity is Singapore registered/ incorporated.
- New (target) market entry criteria where overseas sales of applicant had not exceeded $100k in each or last 3 preceding years.
- Minimum 30% local shareholding.
- Annual turnover < S$100m per annum or Company has not more than 200 employees.
Double Tax Deduction for Internationalisation (DTD)
The DTD Grant supports SMEs in market expansion and investment development activities.
200% tax deduction on the 1st $150k of eligible expenses on 9 qualifying activities per year.
Qualifying activities include: –
(1) Market Preparation
Engaging 3rd-party professional consultant for: –
- Design of packaging for overseas markets.
- Products/services certification for overseas markets.
- Market surveys/ feasibility studies.
(2) Market Exploration
- Overseas business development trips/ missions.
- Overseas trade fairs.
- Local trade fairs approved by Enterprise Singapore or Singapore Tourism Board (STB).
- Virtual trade fairs approved by Enterprise Singapore.
(3) Market Promotion
- Overseas advertising and promotion campaigns.
- Production of corporate brochures for overseas distribution.
- Advertising in approved local trade publications.
- Development of overseas business.
(4) Market Presence
- Overseas trade offices.
- Master licensing and franchising.
- Employee overseas posting.
- Overseas investment study trips/ missions.
- Investment feasibility/ due diligence studies.
- Singapore-registered company or have a permanent establishment in Singapore.
- Not enjoying other government tax incentives or concessions.
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