EDG Grant
EDG Grant - Overview
The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, Market Access. In Bizsquare, we provide 2 kinds of EDG Grant – Financial Management, Strategic Brand and Marketing Development.
In a competitive market like Singapore, companies that thrive are undoubtedly the ones that have strong business foundations and strategies, adopt technology and innovative processes, and grow their overseas presence.
The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.
At Bizsquare, we are registered with PMC as a licensed consultant for government grants and we specialize in providing 2 projects supported by the EDG under the Core Capability Pillar to help your business strengthen its foundations, thereby preparing it for further growth and transformation.
- Strategic Brand & Marketing Development
- Financial Management
EDG Grant – Overview
In a competitive market like Singapore, companies that thrive are undoubtedly the ones that have strong business foundations and strategies, adopt technology and innovative processes, and grow their overseas presence.
The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars: Core Capabilities, Innovation and Productivity, and Market Access.
How We Can Help
At Bizsquare, we are registered with PMC as a licensed consultant for government grants and we specialize in providing 2 projects supported by the EDG under the Core Capability Pillar to help your business strengthen its foundations, thereby preparing it for further growth and transformation.
- Strategic Brand & Marketing Development
- Financial Management
Third Party Consultancy Fees
Software & Equipment
Internal Manpower Cost
80%
Grant support levels of 80% extended till 31 March 2023 for Food Services and Retail Sectors
70%
Grant support levels for all other sectors fall back to 70% from 1 April 2022 onwards.
Note: There are no pre-approved vendors for the EDG.
Who Can Apply?
A Business Entity registered and operating in Singapore
Have a minimum of 30% local shareholding
Be in a financially viable position to start and complete the project
What Else You Should Know
Applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.
There are no compulsory application fees required for schemes offered by ESG. Any application fees quoted by individuals/ firms offering grant application services are not endorsed by the Government.
Employers eligible for the SkillsFuture Enterprise Credits (SFEC) can also qualify for additional subsidies under the scheme.
Find out how to apply for the EDG.
What Else You Should Know
Applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.
There are no compulsory application fees required for schemes offered by ESG. Any application fees quoted by individuals/ firms offering grant application services are not endorsed by the Government.
Employers eligible for the SkillsFuture Enterprise Credits (SFEC) can also qualify for additional subsidies under the scheme.
Find out how to apply for the EDG.
Our EDG Services
1
Strategic Brand & Marketing Development
The purpose of this project is to help your business better reach target customers and markets through differentiating your brand, products and services.
Objectives of this project :
- Help your company better capture target audiences
- Differentiate your brand, and your products and services
Services provided by us :
- Development of effective brand strategy that appeals to targeted consumers and offers differentiated proposition from the competition
- Assessment of a brand’s financial value and identification of brand levers
- Development of a strategic plan to optimize marketing resources and improve customer communications
Methodology :
Diagnosis and gap analysis of your company
Assessment of internal and external factors, such as strengths, weaknesses and competition
Primary or secondary research
Recommendations and plans for implementation
Training and workshop
Diagnosis and gap analysis of your company
Assessment of internal and external factors, such as strengths, weaknesses and competition
Primary or secondary research
Recommendations and plans for implementation
Training and workshop
What You Stand to Benefit :
Get Funding Subsidies
Get funding of up to 70% of the business project cost including software and equipment, increased workforce in the business, and third-party consultancy fees (up to 80% for Food Services and Retail sectors)
Develop Strong Brand Strategy
Developing a Strong Digital Marketing strategy for your business as a vast lead generation investment to keep it competitive in an international online market.
Experienced Certified Consultant
Engage experienced Digital Consultants agencies and MNC experts with affordable and lower consultant fees compared with broader consultancies
Able to scale overseas
Be an empowered SME business in Singapore with the ability to establish yourself overseas
Are you ready to Stand Out?
2
Financial Management
The purpose of this project is to help maximize your company’s financial results in order to help corporate strategy and development and/or provide your management team with the right skills to handle the company’s assets and resources.
Objectives of this project :
- Improve efficiency and productivity
- Monitor transparency
- Financial management regulatory enforcement
Services provided by us :
- High-Level Risk Assessment
- Gap Analysis :
- Identify financial risks and make recommendations
- Improve financial management
- Draft major financial management policies and procedures
Methodology :
High Level Risk Assessment
- Identify high-risk financial management (sales, purchase, inventory management)
- Proper communication
- Identify internal control issues to improve financial management
- Identify financial risks and control activities to improve financial management
- Drafting major financial management policies and procedures
- Training and workshop
High Level Risk Assessment
- Identify high-risk financial management (sales, purchase, inventory management)
- Proper communication
- Identify internal control issues to improve financial management
- Identify financial risks and control activities to improve financial management
- Drafting major financial management policies and procedures
- Training and workshop
What You Stand to Benefit :
Get Funding Subsidies
Successful EDG grant application reduces consulting fees by up to 70% (Up to 80% for Food Services and Retail sectors)
Financial Audit and Build Processes
A better system of financial management could strengthen the governance, accountability transparency efficiency, and sustainability of your business
Experienced Certified Consultant
Engaging experienced SGX Listed Companies and MNC experts with affordable and lower consultant fees compared with broad consultancies
Financial Management to build your valuation
Better financial management in the corporation will give you financial freedom as a business owner or manager, making you much more attractive to investors and/or increasing your chances of going public in the future
Maximize my company's financial results
FREQUENTLY ASKED QUESTIONS (FAQ)
EDG is the short form for Enterprise Development Grant. This grant was announced in the Annual Budget 2018. In short, EDG is a grant for established local SMEs (Small Medium Enterprises) to help them grow and transform their businesses.
Yes, Enterprise Development Grant (EDG) is officially launched on 25 October 2018. It replaces Capability Development Grant (CDG).
You can get funding up to 70%. This means Enterprise Singapore may sometimes choose to fund only 50% of the project. It really depends on a number of factors.
EDG is under the new governmental agency called Enterprise Singapore, ESG in abbreviated form. ESG is a merged entity of SPRING and IE Singapore. They give the final green light to all grants.
That really depends on the scope of the project. The grant is correlated to the size of the company in terms of turnover and manpower. We do not have the exact algorithm nor science on this. Neither ESG will give you a definite answer on this.
The projects can fall under these scope:
1. Core Capabilities
a) Strategic Brand and Marketing Development
b) Business Strategy Development
c) Human Capital Development
d) Service Excellence
e) Financial Management
2. Innovation and Productivity
a) Process Redesign
b) Product Development
c) Automation
3. Market Access
a) Overseas Marketing Presence (OMP)
b) Market Access
c) Pilot Project and Test Bedding
d) Mergers and Acquisitions (M&A)
- Strategic Brand and Marketing Development
Companies keen to apply for the Enterprise Development Grant (EDG) should meet these criteria:
- Be registered and operating in Singapore
- Have a minimum of 30% local shareholding
- Be in a financially viable position to start and complete the project
In general, startups are not eligible for EDG. If you are a startup, you can look at the ecosystem meant for startups: Startup SG network.
Our experience tells us that it should not be zero or just one. And the project sum must justify the size of the company. A good number should be 5 employees and they should not include directors, partners or owners.
Depending on the scope of your project, the timeline could range from 4 to 12 months. This includes time to establish proposed objectives and conduct research. Our typical branding project takes about 4 to 6 months.
From 1 January 2017, if you engage consultants, they need to be certified management consultants. SMEs should ensure that consultants involved in EDG must possess Enterprise Singapore-recognised certification; failing which Enterprise Singapore reserves the right not to support the consultancy fees incurred.
Bizsquare is a certified Consultants and are able to help you obtain the grant.
The application process is not particularly onerous. You can easily apply EDG at Singapore Business Grants Portal.
If you have officially appointed us as your consultant, we are more than happy to guide you along.
To apply for the Enterprise Development Grant (EDG), you will need your company’s CorpPass. If your company does not have a CorpPass account, refer to the CorpPass Guide for instructions on how to set one up.
You need these information to apply for the EDG:
- ACRA information
- Audited financial statements
- Relevant proof of quotation or proposal
- Management consultancy scopes
- Relevant consultants’ certification
Project proposal templates are available to guide companies in their preparation for submission.
If you already appoint us as your consultant, we will write the project proposal for you.
There is no fixed timeline. It may take 1 to 2 months. Do understand Enterprise Singapore is running a lean team to handle EDG.
In theory, there are no restrictions on how many EDG Grants you can apply for. Currently, ESG allows you to apply and work on more than one EDG project at any given time. However, you can only apply for an EDG grant in a specified area once. This means that if you are awarded an EDG grant for Branding and Marketing once, you are no longer eligible for another EDG grant under the same category that is Branding and Marketing. However, you can still apply for EDG grants under other areas.