Singapore's Budget 2024 brings several important updates for businesses looking to access government support programmes.
Extended Support for EDG
The Enterprise Development Grant (EDG) will continue to support businesses with up to 50% funding for qualifying projects. This is particularly beneficial for companies looking to upgrade their capabilities, innovate, or expand overseas.
Enhanced Digitalization Support
The government has allocated additional funding for the Productivity Solutions Grant (PSG), making it easier for SMEs to adopt pre-scoped IT solutions. This aligns with Singapore's push towards becoming a Smart Nation.
New Green Initiatives
A new category of grants has been introduced to support businesses in their sustainability journey. Companies can now apply for funding to implement green practices and technologies.
What This Means for Your Business
If you're planning to apply for government grants in 2024, now is a good time to review your eligibility, plan your projects to align with available funding, and prepare documentation early to streamline the application process.
Stay tuned to our blog for detailed guides on how to apply for these programmes.
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