The Enterprise Development Grant (EDG), created by Enterprise Singapore, aims to help Singapore firms grow and transform. If your company is looking to upgrade its business, innovate, or even venture overseas, the EDG can provide you with a substantial amount of funding support.
There are three main types of projects that are supported by Enterprise Singapore:
- Core Capabilities: Aimed at helping companies grow and transform by building stronger business foundations
- Innovation & Productivity: Aimed at supporting companies to explore new growth opportunities or improve efficiency
- Market Access: Aimed at assisting companies which are looking to expand into overseas markets
Naturally, there are certain criteria that your business needs to fulfil in order to be eligible for the EDG. These include:
- Being registered and operating in Singapore
- Having minimally 30% local shareholding (if you’re unsure about this, the information is on your company’s ACRA bizfile)
- Being in a financially stable position to start and finish an EDG project
Yes, we get that the third criteria is a bit vague. Enterprise Singapore will need to assess if your company has a reasonable amount of turnover – either based on your latest audited financial statements, or if your company is exempted from audits, based on your certified management accounts.
Nonetheless, if you fulfil the qualifying criteria, you’ll stand to benefit from substantial funding support.
As announced by Deputy Prime Minister and Minister for Finance Heng Swee Keat during the Supplementary Budget:
Maximum support level will be raised from 70% to 80% from 1 April 2020 to 31 December 2020.
For firms that are most severely impacted by COVID-19, the maximum support level can be further raised to 90% on a case-by-case basis.Supplementary Budget 2020
If you’re keen to apply for an EDG project and tap on the funding support, look for a management consultant with an Enterprise Singapore-recognised certification. Enterprise Singapore states their rationale as follows:
Enterprise Singapore-recognised consultants are certified by certification bodies specifically appointed to help businesses select management consultants in their business upgrading journey.
This certification recognises management consultants who possess the right knowledge, competence and ethics to support businesses in their projects and growth strategies.Enterprise Singapore
Appiloque’s Registered Management Consultants are from the Institute of Management Consultants (Singapore), which is one of the certification bodies recognized by Enterprise Singapore.
With a strong foundation and over 6.5 years of experience in the digital marketing space, we’re now looking to help clients bring their businesses even further.
Do any of these scenarios feel familiar to you?
- You’ve engaged digital marketing agencies that are unable to operate on a strategic level and you’re tired of instructing them on every little thing
- You’ve in-house staff that can only operate as “doers” and you need a more strategic plan
- Your management has been reluctant to accept digital transformation and you need that extra “push”
- You want to build in-house capabilities, start properly marketing your company digitally, and build a brand you can be proud of
- You want to capitalize on additional government funding support during the COVID-19 pandemic to innovate, upgrade, and market your business
If any of these resonated with you, do consider taking up an EDG project. Here are just some of the aspects that we’ll be able to support you on:
- Stakeholder Workshops & Focus Groups
- Omnichannel Digital Brand Audits
- Competitor Analysis
- Market Research & Insights
- Digital Transformation
- Digital Branding: Assets, Playbooks & Style Guides
- Digital Marketing Strategy & Implementation Plans: For Social Media, Search Engine Optimization, Digital Advertising & Email Marketing
- Digital Marketing Training
Feel free to reach out by dropping us a message via the form at the bottom of this page!
We’ll be happy to advise further and guide you throughout the entire process – from grant application to claim submission 🙂