If you’re at the stage of considering applying for Enterprise Singapore’s (ESG) Enterprise Development Grant (EDG or EDG Grant), you need to first ensure that your enterprise meets the application requirements.
First and foremost, you should be the owner of a Small and Medium Enterprise (SME).
If your business is an SME
As the owner of an SME looking to apply, you should fulfil the preliminary requirements for the EDG Grant:
The third requirement addresses your company’s financial health, which is important as ESG clearly states that EDG projects are supported on a reimbursement basis. This means that claims can only be submitted and subsequently received after the project has completed its deliverables. In other words, you should expect to pay the necessary fees to whatever third-party services are hired for the EDG project.
If your business is not an SME
If your business is not considered to be an SME but you still desire some form of financial assistance from ESG, do head over to their Grants page to find a scheme better fitted to your business needs.
Currently, ESG offers 4 broad classifications of financial aid which are:
5 Conditions You Need to Know Before EDG Grant Application
Assuming that your company meets the above mentioned preliminary requirements for the EDG Grant, there are still other stipulations that you need to know before moving forward with your EDG Grant application.
1. From now till 31 March 2022, the EDG Grant maximum support level is raised up to 80%, compared to the usual 70% for SMEs.
Again, it is important to ensure that your company is in a position of financial sustainability to bear the costs that are not covered by the EDG.
2. The EDG Grant funds a single EDG project. This project must be new*, and fall under a category as shown in the graphic.
Do take a moment to audit your own company and identify the areas for improvement.
*A project is deemed to have commenced (and therefore not a new project and ineligible for the EDG Grant) if any of the following took place before the date of EDG Grant application:
The applicant had started work.
The applicant had made payment to a third-party, who is part of the application.
The applicant had signed a contractual agreement with a third-party, who is part of the application.
3. An EDG project should be completed within 12 to 18 months upon successful EDG Grant application.
4. It is mandatory for companies applying for the EDG with consultancy-related costs to consult Enterprise Singapore-recognised consultancies.
You should research and shortlist Singapore Enterprise-recognised consultancies, and assess which agency is best aligned to address your company’s needs.
STUDIO DAM is an Enterprise Singapore-recognised consultancy. Regardless of whether our engagement falls under the EDG Grant, we are committed to curating a brand strategy specifically aligned to your business goals and needs.
5. Committing to worker outcomes is part of EDG Grant’s qualifying requirements. This is a requirement put into effect on 1 April 2020.
Worker outcomes include an increase in wage increment, job creation, job re-design, or training for existing staff.
If you require further assistance,
there are a total of 12 SME Centres to choose and seek clarification from.
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All it takes is a single conversation to get the ball rolling. Arrange an hours’ worth free consultation to discuss EDG Grants with us today!