The Capability Development Grant (CDG) is a financial assistance programme that helps SMEs develop capabilities across 10 development areas, ranging from raising service standards, adopting technology to staff training and overseas expansion. The grant supports a wide-ranging of capability upgrading initiatives to help them grow the businesses locally and globally.
The grant defrays up to 70% of qualifying project costs such as consultancy, training, certification and equipment costs. You can take on large scale upgrading projects in areas like increasing productivity, process improvement, product development and market access.
To encourage more SMEs to build business capabilities, the application process for grant support of $30,000 or less has been simplified. You can look forward to simpler application forms and reduced documentation requirements for such projects.
iSPRINT (Increase SME Productivity with Infocomm Adoption & Transformation) scheme addresses the different areas of infocomm adoption for the SMEs, making it easy and convenient for these enterprises to seek assistance to help them along their infocomm adoption journey for 1st time adopters.
For more information and downloading of Proposal Template, please visit http://www.ida.gov.sg/Business-Sectors/Small-and-Medium-Enterprises/iSPRINT-Funding-For-Customised-Solutions.aspx
Alternatively, business can enjoy 400% tax deductions/ allowances and/or 40% cash payout for investment in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme. The tax benefits under PIC are available from Years of Assessment (YAs) 2011 to 2015, on investment in any of the six qualifying activities
For more information and downloading of claim documents, please visit http://www.iras.gov.sg/irashome/picredit.aspx
To check if your website development and design can claim government grants, please contact us for a free consultation.
To contact IRAS:
For Companies 1800-356 8622
For Self-employed/Partnership (+65) 6351 3534
The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to take their first step towards capability development. SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. This voucher is ideal for SME or sole-proprietor who are no eligible for PIC. ICV grant requires prior application approval before proceeding with the project.
To find out more and apply online, please visit http://www.spring.gov.sg/Enterprise/ICV/Pages/innovation-capability-voucher.aspx