Mobile Drawer
  • Social Media Icon
  • Social Media Icon
  • Social Media Icon

Budget 2018’s enhancements to support your company’s growth

Streamlined assistance for companies to upgrade capabilities, innovate and go overseas

Enterprise Development Grant (EDG) [New]

  • One grant for companies to upgrade capabilities, innovate and internationalise
  • Streamlines IE Singapore’s Global Company Partnership (GCP) Grant and SPRING’s Capability Development Grant (CDG) into one
  • Supports Singapore companies in market and business development, innovation and productivity and core function and capability
  • Funds up to 70% for qualifying activities for SMEs and up to 50% for non-SMEs

Effective from 4Q 2018. In the interim, companies can continue to apply for the GCP Grant and CDG through the Business Grants Portal.

Productivity Solutions Grant (PSG) [New]

  • One grant for companies to access a wider range of productivity solutions for business upgrading
  • Streamlines existing productivity schemes - the Innovation & Capability Voucher (ICV) by SPRING, Landscape Productivity Grant (LPG) by National Parks Board, and the SME Go Digital Programme by Info-communications Media Development Authority
  • Funds up to 70% for qualifying activities

Effective from 1 April 2018. Companies can visit the SME Portal to find out more about PSG, and apply for the grant through the Business Grants Portal from 1 April 2018.

PACT [Enhanced]

  • Broadened to support collaborations among enterprises of all sizes, inclusive of local and overseas partners, to pursue business development needs such as knowledge transfer, capability building, co-innovation and accessing overseas opportunities
  • One integrated programme combining the existing Partnerships for Capability Transformation Programmes by SPRING and Economic Development Board, the Collaborative Industry Projects under SPRING, and projects supported under the GCP Grant by IE Singapore
  • Funds up to 70% for qualifying activities

Effective from 1 April 2018.

Double Tax Deduction for Internationalisation (DTDi) [Enhanced]

  • Expenditure cap for the Automatic DTDi will be raised from S$100,000 to S$150,000
  • Singapore companies can continue to apply to IE Singapore or Singapore Tourism Board (STB) on qualifying expenses in excess of S$150,000, or on expenses incurred on other DTDi qualifying activities

Effective from Year of Assessment 2019.

Market Readiness Assistance (MRA) Grant [Extension]

  • Helps Singapore SMEs access overseas opportunities
  • Supports overseas market set-up, identification of overseas market partners and overseas market promotion
  • Funds up to 70% for qualifying activities extended till 31 March 2020

Read more about the MRA Grant here.

Venture Debt Programme (VDP) [Extension]

  • Financing support for high-growth Singapore enterprises in areas including working capital, asset or project financing, and mergers and acquisitions
  • Extended pilot run to 31 March 2021

Read more about VDP here.

Stronger support for Trade Associations and Chambers (TACs) to drive industry upgrading

Local Enterprise and Association Development (LEAD) Programme [Enhanced]

  • More comprehensive support for TACs’ initiatives to help enterprises build capabilities and internationalise
  • Streamlines existing programmes such as LEAD+ and TAC-led Collaborative Industry Projects (TAC-CIP) by SPRING, the Association Development Fund (ADF) by Singapore Tourism Board and the TAC-led pilot Business Improvement District (BID) programme by Urban Redevelopment Authority into a single programme
  • Expanded scope for TAC-led pilot BIDs to cover place management activities such as physical improvements to precincts, public space management, enhanced transportation access, and enhanced cleaning and maintenance

Effective from 1 April 2018.

Targeted support for sector development

Infrastructure Office [New]

  • A one-stop office for global infrastructure opportunities, bringing together local and international firms from different parts of the value chain to facilitate the development, financing and execution of Asian infrastructure projects
  • Enables Singapore companies across the infrastructure value chain to form partnerships and capture new opportunities in the region
  • Combines resources and connections from government agencies including Enterprise Singapore, Economic Development Board and the Monetary Authority of Singapore to help companies more effectively

Effective from April 2018 onwards. Find out more about Singapore’s position as Asia’s infrastructure hub here.

Trade Infrastructure Development Fund (TIDF) [New]

  • Strengthens Singapore’s trade ecosystem and capabilities
  • Supports Singapore companies to develop innovative trade technologies and solutions, widen financial service offerings, and build a strong commodity derivatives marketplace

Effective from 2Q 2018.

Greater support to help companies develop manpower for overseas expansion

ASEAN Leadership Programme [New]

  • To equip Singaporean C-suite executives with in-depth understanding of business cultures, emerging opportunities and business strategies in ASEAN
  • Comprises both local and in-market training components to build deeper knowledge
  • Developed in partnership with Human Capital Leadership Institute
  • Funded under SkillsFuture Leadership Development Initiative (LDI)

More details will be available in May 2018. Programme to commence in 2H 2018. Find out more about our talent programmes here.

Targeted support for startups to expand innovation networks

Startup SG Network [New]

  • One-stop database for information on Singapore’s startup ecosystem and players to facilitate business matching
  • All local startup schemes have been consolidated under Startup SG in 2017

More details will be available in 2H 2018. For more information, please visit Startup SG.

Read more about the Singapore Budget 2018 and MTI Committee of Supply (COS) 2018.

Last Updated on : 02 Mar 2018