Managing the business operations in Singapore as an SME can be both demanding and rewarding. With tight margins that are set, rising operational costs, and a constant need to adapt, small and medium-sized enterprises must be nimble and strategic to stay competitive. Fortunately, the Singapore government continues to offer a robust suite of grants aimed at supporting local businesses in their journey of growth, digitalisation, and global expansion.
Whether you are in the lookout to invest in technology, switching towards new markets, or expanding workforce, there is always a grant right suitable for every need. Let’s dive into this blog and explore the top five government grants for SMEs in Singapore.
1. Productivity Solutions Grant (PSG)
The Productivity Solutions Grant (PSG) is one of the most accessible grants that is majorly used among a large number of SMEs. It provides the right funding support for businesses who are looking to adopt pre-approved digital solutions and equipment. This assists with streamlining day-to-day operations and improving efficiency.
What It Covers
The PSG supports a wide range of solutions across key business functions such as:
- Human Resource Management
- Payroll and Accounting
- Customer Relationship Management (CRM)
- Cybersecurity and E-commerce
These solutions are vetted and listed by IMDA or relevant agencies to ensure quality and effectiveness.
Eligibility and Application Process
To Qualify:
- Your business must be registered and operating in Singapore.
- It must have at least 30% local shareholding.
- Group annual sales should not exceed S$100 million OR your company must employ no more than 200 staff.
- Applications are submitted through the Business Grants Portal (BGP), where you can browse the list of pre-approved vendors.
💡Recommended Tool: Info-Tech’s HR & Payroll Software is PSG-approved and supports SMEs with automating important HR operations like leave tracking, attendance, and payroll processing.
2. Enterprise Development Grant (EDG)
If your business is looking to scale up, innovate, or explore overseas markets, the Enterprise Development Grant (EDG) provides deeper support. This grant helps businesses strengthen core capabilities, enhance productivity through innovation, and venture abroad.
What It Covers
The EDG supports projects under three pillars:
- Core Capabilities: Strengthen foundational business functions.
- Innovation & Productivity: Adapt to new technologies by automating processes.
- Market Access: Expand into international markets with branding and marketing efforts.
Grants typically cover up to 50% of project costs, with higher support levels available for sustainability or globalisation projects.
Who Should Apply?
This grant is a right suitable choice for SMEs that have grown beyond the startup phase and are looking to future-proof their operations.
3. SkillsFuture Enterprise Credit (SFEC)
In the era of digital transformation, businesses that focus towards upskilling have the better potential to grow. The SkillsFuture Enterprise Credit (SFEC) is a strategic grant designed to encourage employers to invest in workforce development and enterprise transformation.
What It Offers
Eligible employers receive a one-time S$10,000 credit to defray up to 90% of qualifying costs associated with training and capability-building initiatives.
To Qualify:
Employers must have contributed at least S$750 in Skills Development Levy over a qualifying period.
They must not have any late SDL payments and should have utilised at least one qualifying programme.
4. Market Readiness Assistance (MRA)
Dreaming of taking your brand global? The Market Readiness Assistance grant (MRA) supports SMEs that are planning to expand their presence in international market levels.
What It Covers
MRA provides up to 70% funding support, capped at S$100,000 per company per new market, across three main activities:
- Overseas market setup
- Business development
- Overseas marketing and promotion
This grant reduces the financial risk of entering a new market, making it a great starting point for global expansion.
🌍 Whether you’re exploring Southeast Asia, the Middle East, or further afield, MRA can be support you with the right assistance. It will work to bridge between your local success and international potential.
5. Other Niche Grants to Know in 2025
In 2025, Singapore is doubling down on two strategic pillars: sustainability and digital transformation. A set of niche grants have emerged to help SMEs ride these national waves.
Green Grants
These grants are introduced in companies to adopt eco-friendly practices. It focuses on implementations such as energy-efficient equipment, waste reduction systems, and sustainable supply chains.
Automation & AI Grants
SMEs looking to integrate AI, robotics, or automated systems can explore funding options under new productivity-focused schemes. These grants aim to reduce reliance on manpower and improve operational scalability.
📌 Tip: Check for updated grant announcements on Enterprise Singapore, IMDA, and SkillsFuture Singapore.
Tips to Maximise Your Government Grants Application
Grants are competitive—being prepared makes a difference. Here’s how to stand out:
✅ Prepare All Required Documents
- Common documents include:
- ACRA BizFile profile
- Latest financial statements
- Detailed project proposal
- Quotations from pre-approved vendors
✅ Engage Pre-Approved Vendors
Working with recognised vendors, like Info-Tech Singapore, ensures compliance with grant terms and expedites the approval process.
✅ Ensure Project Relevance
Align your project goals with national priorities (e.g., digitalisation, sustainability, workforce development) for higher chances of approval.
Final Thoughts: Make Government Grants Work for You
Government grants in Singapore offer more than just financial support. They support for strategic steps and also for sustainable growth opportunities. Whether you’re automating HR functions, building a greener business model, or training your workforce for a digital future, there’s a scheme designed to help.
The prompt step is to act early, plan thoroughly, and look for the right partners. Grants like PSG, EDG, SFEC, and MRA are more than just funding options. They’re your stepping stones to achieve long-term success.
Explore Info-Tech’s Productivity Solutions Grant Today & Connect With Us To Find The Best Grant That Fits Your Business Goals!
