Business Grants for SME Owners in Singapore – Four Media

Business Grants for SME Owners in Singapore

Given the competition in the business world, it has become vital to optimise each function. Marketing is one of the most important functions of an organisation whether it is a small or large business. Marketing plays a key role in setting a business apart from their rivals.

Challenges Faced By SME Owners

Small business owners often have to face different challenges as compared to large organisations. The number of employees is limited and they owners have to look after many tasks themselves. However, small businesses have their own kind of competition so owners can’t ignore vital functions like marketing. However, many such owners don’t have a proper knowledge about every function so they hire relevant agencies.

Grants for SME

It is not common knowledge that there are more than 29 grants and schemes available to SME owners in Singapore. These grants cover many aspects of a business. However, at Four Media, we offer three types of grants to help SME owners in Singapore.

PIC

Productivity Innovation Credit (PIC)

All businesses including partnerships, sole proprietorships and companies are eligible for getting the benefits of PIC. PIC grant helps companies enjoy benefits related to the following:

  • Acquisition and Leasing of PIC IT and Automation Equipment
  • Training of Employees
  • Acquisition and Licencing of Intellectual Property Rights
  • Registration of Patents, Trademarks, Designs and Plant Varieties
  • Research and Development
  • Investment in Design Projects

All of these benefits are targeted towards one goal that is to enhance the company’s tax savings. The grant covers a tax deduction or a cash payout scheme. A cash payout scheme comes with 40% funding support which is capped at a cash payout of SGD$60,000.

For more information, visit IRAS.

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Market Readiness Assistance (MRA)

This grant is available through the International Enterprise Singapore to help small business owners to expand
their business beyond local horizons. MRA covers the following:

  • Overseas market set-up
  • Identification of business partners
  • Overseas market promotion

The grant helps businesses establish themselves on a global basis even giving them chances to participate in overseas trade fairs. Moreover, MRA is the only grant that covers digital marketing costs like SEO, e-commerce set-up and SEM. MRA covers up to 70% of the cost capped at SGD$20,000 of the supported activities.

For more information, visit IE Singapore.

CDG

Capability Development Grant (CDG)

Every business has to develop in order to compete within the industry. Development requires cost which can be a burden on SME owners so we grant the CDG through SPRING Singapore. The grant supports 70% of the qualifying cost. If your project costs below SGD$30,000, then you can apply for the CDG Lite application which is a minimised procedure with less documentation.

The coverage of the grant includes:

  • Brand & Marketing Strategy Development
  • Business Excellence
  • Business Strategy Innovation
  • Enhancing Quality Standards
  • Financial Management
  • Human Capital Development
  • Intellectual Property & Franchising
  • Productivity Improvement
  • Service Excellence

For more information, visit SPRING.

About Four Media 

Four Media has been providing specialised services related to inbound marketing and integration of offline and online marketing campaigns. Since its establishment in 2005, Four Media has catered to many clients and the results for them have been satisfactory.