2018 Budget Supports Your Company's Growth with Fabulous Government Grants!

Assistance Provided for Companies towards upgrading capabilities, innovate and expand overseas

Enterprise Development Grant (EDG) [New]  Effective from 4Q 2018. 

  • For companies to upgrade capabilities, innovate and internationalise
  • Singapore companies will be supported in market and business development, innovation and productivity and core function and capability
  • Funding up to 70% for qualifying activities for SMEs and up to 50% for non-SMEs

Productivity Solutions Grant (PSG) [New] Effective from 1 April 2018

  • For companies to access a wider range of productivity solutions for business upgrading
  • Funding up to 70% for qualifying activities

Double Tax Deduction for Internationalisation (DTDi) [Enhanced]  Effective from Year of Assessment 2019.

  • Expenditure cap raised from S$100,000 to S$150,000
  • Singapore companies can apply to IE Singapore or Singapore Tourism Board (STB) on qualifying expenses in excess of S$150,000
  • or on expenses incurred on other DTDi qualifying activities

Market Readiness Assistance (MRA) Grant [Extension]

  • Help Singapore SMEs access overseas opportunities and internationalize
  • Supports overseas market set-up, identification of overseas market partners and overseas market promotion
  • Funding up to 70% for qualifying activities extended till 31 March 2020

PACT [Enhanced] Effective from 1 April 2018.

  • PACT to support collaborations among enterprises of all sizes, inclusive of local and overseas partners
  • Aims to pursue business development needs such as knowledge transfer, capability building, co-innovation and accessing overseas opportunities
  • Funding up to 70% for qualifying activities

Venture Debt Programme (VDP) [Extension]

  • Financing support for high-growth Singapore enterprises in areas covering working capital, asset or project financing, and mergers and acquisitions
  • Extended pilot run to 31 March 2021

Enhanced support for Trade Associations and Chambers (TACs) to drive industry upgrading

Local Enterprise and Association Development (LEAD) Programme [Enhanced] Effective from 1 April 2018

  • Increased comprehensive support for TAC’s initiatives to help enterprises build capabilities and internationalise
  • Elevated scope for TAC-led pilot BIDs to cover place management activities

Targeted support for sector development

Infrastructure Office [New]  Effective from April 2018 onwards.

  • For global infrastructure opportunities, bringing together local and international firms from different parts of the value chain to facilitate the development, financing and execution of Asian infrastructure projects
  • Enabling Singapore companies across the infrastructure value chain to form partnerships and capture new opportunities in the region

Trade Infrastructure Development Fund (TIDF) [New]  Effective from 2Q 2018

  • Fortifies Singapore’s trade ecosystem and capabilities
  • Singapore companies will be supported to develop innovative trade technologies and solutions, widen financial services offerings, and build a strong commodity derivatives marketplace

Enhanced support to help companies develop manpower for overseas expansion

ASEAN Leadership Programme [New]  More details will be available in May 2018.

  • Equipping Singaporean C-suite executives with in-depth understanding of business cultures, emerging opportunities and business strategies in ASEAN
  • Comprising both local and in-market training components to build deeper knowledge
  • Developed in partnership with the Human Capital Leadership Institute
  • Funded by SkillsFuture Leadership Development Initiative (LDI)

Focused Support for startups to expand innovation networks

Startup SG Network [New]  More details will be available in 2H 2018.

  • One-stop all in one information database on Singapore’s startup ecosystem and players to facilitate business matching
  • All local startup schemes have been consolidated under Startup SG 2017

Value Accounting Support Your Business Grants

Value Accounting:  your one-stop consultant for startups, new businesses, technology and training.

Leave A Comment

Your email address will not be published. Required fields are marked *